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What a jam-packed show!!! Are you ready for a little Real Estate 101? Thom and Dave are talking about real estate terminology today! They are also chatting about the advantages or home ownership and why you need a real estate professional on your side as you buy or sell your home. Ron Wieczorek from Flagstar Bank joins the guys and has an interesting question. Tune in to find out what it is!

Segment 1

 

Dave Burnett:    This is the Idaho Real Estate Buzz. He's Thom Dallman, the CEO of Core Group at Exp and one of the associate brokers, as well. We talked to Ron in the last segment and he 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 ... that's our livelihood.

Dave Burnett:    It is just part of your livelihood. And I guess that's kinda where I come into this, and that is to ask the dumb questions.

Thom Dallman:  There's no dumb questions. 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. If somebody is shined and want to go Thom ... what does that mean? And some people don't want to ask.

Thom Dallman:  Oh, you got to ask that question.

Dave Burnett:    But there's some terms ... I want to talk a little bit about terminology.

Thom Dallman:  Sure.

Dave Burnett:    We've done this ... a long time ago, but we haven't done it recently.

Thom Dallman:  Sure.

Dave Burnett:    And if somebody is new to the Idaho Real Estate Buzz, again, that's part of what this is, is to help educate you on real estate and on that transaction.

                                Let's go into Real Estate 101 and some of the terms that you may run into with your agent.

Thom Dallman:  Sure. Agent was one of those terms, seller's agent, 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.

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 seller's negotiate, get the best price. Buyer's side ... they're helping, get the best price for their buyer's and negotiating concessions and stuff for their clients, as well. To me, it's 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 and without them having to pay a lot. And 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 and. know that 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, I get ... we get so many phone calls from people who are like, "I just want to talk to the listing agent. I think I can get a better deal if I just go directly to the listing agent."

                                And we had to tell them like, "You can do that, obviously, you can talk to listing agent, but you're doing yourself a disservice because that listing agent has contract with that seller. Their commissions are already negotiated so you're not going to get, you're not necessarily going to get a good deal just because you're going through the listing agent. Listing agent is 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:    So let me back up just a little bit here. Let's say we have a house for sale and it's listed by Core Group Realty. I happened to drive by it, maybe hear us talking about it on the show here.

                                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 will be directed to ... not we the listing agent.

Thom Dallman:  Yeah. We usually will try to get them with a buyer's agent so that they ... because-

Dave Burnett:    I want somebody representing me.

Thom Dallman:  Yeah, our agents will represent that person calling in and give them the information. All of our agents have all 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 interests between the listing agent trying to sell and get the buyer in there. It does happen and stuff, but that's where we kind of get into that whole dual agency. Dual agency is where the brokerage is representing both sides. And so sometimes it is one agent, trying to represent both sides and they have to be completely neutral. They can't, you know, persuade one side or the other to go ... to do what they need to do to get the property. So when you get into dual agency with one agent on both sides ... there's just, there's so much legal-

Dave Burnett:    It creates challenges.

Thom Dallman:  It creates challenges. If it came down to kind of a legal battle, I tell my agents all the time, if it comes down to the legal battle, can you sufficiently prove that you were a neutral party to both sides, and didn't represent one more than the other?

                                That's why I highly discourage it. It happens all the time. Agents out there and 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:    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:  Yeah, just ask for a buyer's agent. 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. And just, yeah.

Dave Burnett:    I guess, 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 they're set up. Yeah, exactly, exactly.

Dave Burnett:    Okay, so buyer's agent, seller's agents, dual agents-

Thom Dallman:  Dual agency, we talked about that. That's when the brokerage is representing both sides.

Dave Burnett:    You mentioned the word brokerage, and there's always a broker. You're an associate broker.

Thom Dallman:  I'm an associate broker, yeah.

Dave Burnett:    What does that mean, broker?

Thom Dallman:  Broker is a special designation that you go through extensive training to learn ... a lot of stuff. It's four weeks of intense, eight to five training, going over, contracts, legalese, learning the appraisal process, a lot of lending information, as well. 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 I'll get my broker's licenses because I love the education and being able to help my agents. So, to me, it was very important to do that. 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 and stuff.

                                There's the broker, and then there's what's known as the designated broker. Every brokerage has to have a designated broker. Has to have one person who's the grand Pumba. Yeah. 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 were incorrectly, 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 and stuff. There's a lot of agents out there doing what they want to do.

Dave Burnett:    We'll just call it cutting corners and you don't want to cut corners.

Thom Dallman:  Yeah. Yeah. Unfortunately, it's just part of the industry. Every industry has those renegades, those people who push the limits and stuff like that. I don't want to say anything bad about any other agents and stuff. That's not what the goal ... intent is here, but it is to educate people, to let them know that you get all kinds agents out there. That's why it's so important to educate yourself and make sure you're interviewing agents and stuff.

                                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:    If I'm buying or selling a home, and I think that Johnny, my agent, is ... hopefully, there's no Johnny here ... but let's say, John is my agent, and I think John is cutting the corner somehow ... goin 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 and just voice your concern, so that the designated broker can look into it and get the information that 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, not ... you're feeling you're not quite getting it.

Dave Burnett:    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:  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 and to help people out with that.

                                So they're not getting in trouble.

Dave Burnett:    I mean, these are kind of topics, what we're talking about here, kind of touchy, my goodness, it's the underbelly of the business, but if you're making the largest transaction of your lifetime, and let's face it, right now, if you're making it for ... most of these transactions are over $200,000 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 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 the people coming in to interview with their agents.

Thom Dallman:  No, not at all. Swing by anytime. We usually have an agent on duty, so there's always someone standing by ready to chat and stuff. 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, you know, in part because personalities vary.

Thom Dallman:  Yeah, exactly.

Dave Burnett:    You get somebody who's personality is like, "Yeah, that's not for me."

Thom Dallman:  Yeah. I go through a pretty extensive interviewing process and stuff. I'm focused on making sure we have the best people dedicated to the industry at our office. More than likely, you will like the person that you meet.

Dave Burnett:    Hard to believe it, we were going to talk about all of these terms. 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 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 Flagstar Bank 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.

 

 

 

Segment 2

 

Dave Burnett:                    This is the Idaho Real Estate Buzz. He is Thom Dallman, the co-owner, also an associate broker at Core Group Realty. CoreGroupRealty. com is a website. Core Group Realty @eXp of course a company. And each and every week we get a chance to talk to Ron at Flagstar Bank, which, Flagstar Bank is a equal opportunity lender?

Ron Wieczoerk:                Yes it is.

Dave Burnett:                    We have to say that.

Thom Dallman:                  They will help anybody who needs help. 

Ron Wieczoerk:                I will.

Dave Burnett:                    That's right. I need help.

Ron Wieczoerk:                And it hurts me if I can't. 

Dave Burnett:                    Exactly. Well Ron, we're going to take the shotgun approach today, potpourri, a little bit of everything. But you were talking during the break about something that is absolutely fascinating.

Thom Dallman:                  It's kind of an interesting little statistic that you shared.

Ron Wieczoerk:                Yeah. I like to read a lot of articles, and dive into those articles and just kind of see what the temperature of... Now we already know Americans like to spend, but just kind of see what people's attitudes are out there when it comes to buying a home, and when it comes to their debt load, and I guess I see it on a... I have front row seat to it every day. So I'm kind of immune to some, and, some I'm shocked by, some I'll never be shocked by, and then some I'm impressed by. But they came out with a poll recently, LendingTree did, and it was, if you had the choice to live absolutely debt free or if you had the chance to live in your dream home and have it mortgaged what would you do?

Dave Burnett:                    Debt free or live in my dream home? 

Ron Wieczoerk:                Or live in your dream home, and you have your debt, right, and probably a lot of it because your dream home is probably not inexpensive.

Dave Burnett:                    Exactly. And that should be a no brainer.

Ron Wieczoerk:                What's your brain saying?

Dave Burnett:                    Debt free.

Ron Wieczoerk:                Debt free. What are you thinking Thom? Thom wants that dream home. 

Thom Dallman:                  I'm going to say more people want their dream home than are worried about being debt free maybe.

Ron Wieczoerk:                Yeah, so, over 50% of Americans would pick their dream home over living debt free.

Dave Burnett:                    Over 50%?

Thom Dallman:                  Over 50%?

Ron Wieczoerk:                Yeah, like 53%-

Thom Dallman:                  That doesn't surprise me but-

Ron Wieczoerk:                ...would pick their dream home.

Dave Burnett:                    Way to go America.

Thom Dallman:                  Maybe a little bit.

                                                Right?

Ron Wieczoerk:                So what I got out of that is Dave Ramsay has a lot of work to do.

Thom Dallman:                  I bet.

Dave Burnett:                    I know.

Ron Wieczoerk:                Because he has not reached these people yet.

Thom Dallman:                  Exactly.

Ron Wieczoerk:                If you don't know, he preaches being debt free. So, that was one stat, and then I read they did little more polling which you touched on our newer generations being tied to technology, and hooked on technology. And only one in five would give up their smartphone in order to live in their dream home. So half say "Give me the debt, I want my dream home, don't take away my smartphone".

Thom Dallman:                  But don't take away my smartphone. 

Ron Wieczoerk:                Over 80%-

Dave Burnett:                    Wow.

Thom Dallman:                  Wow.

Ron Wieczoerk:                ... said "Don't take away my smartphone."

Thom Dallman:                  And this was all millennials? This was... oh wait.

Ron Wieczoerk:                No, no it's not millennials. Geez Thom.

Thom Dallman:                  Wait. No. I thought because we were referencing millennials and generations during the break.

Ron Wieczoerk:                Yes. No, so, this was just in general-

Dave Burnett:                    In generic. 

Thom Dallman:                  Oh. In general, Americans are addicted to their smartphones.

Dave Burnett:                    Don't take my smartphone.

Thom Dallman:                  I personally don't think I could live without my smartphone.

Dave Burnett:                    I have to say this, if I forget it, I feel naked. It's like, patting my pockets continually. 

Thom Dallman:                  Exactly. It's almost the same thing with the watch. When you wear a watch for so long and then all of a sudden, you're like, you don't have and you keep looking at your wrist. It's almost the same thing.

Dave Burnett:                    Watch? I got a smartphone. What are you talking about?

Thom Dallman:                  Yeah well-

Ron Wieczoerk:                Well, it's funny-

Thom Dallman:                  ...my watch connects to my phone so. 

Ron Wieczoerk:                When I do wear a watch, it's funny because someone will say what time it is and I-

Thom Dallman:                  I look at... I reach for my phone, yep, I always reach for my phone. 

Ron Wieczoerk:                ... reach for my back pocket and I look at my phone and I said it's 8:30 and they're like-

Dave Burnett:                    That's just amazing though, one in five.

Ron Wieczoerk:                One in five say don't take away my... Only one in five would give up their smartphone in order for their dream... We're talking about your dream home. You could get a not-so smartphone. It's not taken away.

Thom Dallman:                  It's not taken away a year of basic phones and flip phones.

Ron Wieczoerk:                And then less than 50% would give up chocolate, social media, eating out, or going on vacation to buy their dream home. So there are some sacrifices people aren't willing to make.

Dave Burnett:                    When I get back on the Dave Ramsey theory of sacrificing going out to eat or whatever, get that dream home. So-

Ron Wieczoerk:                And you probably... I mean for your dream home, and when they poll people on what their dream home is, it's typically more often than not, it's in over a million dollars, so that's kind of what they're targeting. You mentioned, are they interviewing millennials? They are, to be fair, I said no immediately, but they are interviewing potential home buyers and the majority of potential home buyers are millennials. So, this is probably stacked with a lot of millennials answering these questions. So it is geared towards that.

Thom Dallman:                  So they stack the deck.

Ron Wieczoerk:                I don't know if they stack the deck.

Thom Dallman:                  No. I'm just kidding.

Ron Wieczoerk:                It's the audience right?

Thom Dallman:                  I think it's probably the same that could be said for a lot of generations; a lot of people out there. Especially Americans just, we get addicted to our technology and our eating out.

Ron Wieczoerk:                Yeah we can.

                                                And it's funny because the other day, and I won't use names, but I remember, I had a client and we had something urgent. We had a... get some documents done. And I left no less than three messages, sent a few texts and no response that day. The very next morning, get a call, and I was like "What happened yesterday? Were you tied up at work?". "Oh I left my phone at my girlfriend's." I'm like "What?". I can't go get the mail without my phone much less... You were without it for 12 hours, and you didn't die. How is that even possible? So it's not everyone. 

Dave Burnett:                    To be honest, my wife is one of those. She could, I mean to her the phone is when she needs to make a call she uses the phone. But otherwise, she couldn't care less.

Thom Dallman:                  That's crazy. I have some clients that I'm working right now that I can't get them on the phone. All I can do is get them on Facebook Messenger. They will not respond to texts or phone calls. Very often it takes them forever to respond but if I message them on Facebook Messenger they always respond, right away. I'm like "This is interesting".

Dave Burnett:                    That is an interesting avenue of choice.

Ron Wieczoerk:                And that's something we all have to be conscious of, especially in sales. I guess you don't really have that day to day but in sales we have to figure out what line of communication-

Thom Dallman:                  They want.

Ron Wieczoerk:                ... is most convenient, and what they prefer, whoever it is, prefers to... Whether it's me with text or phone calls, it might be e-mail for some people, it might be Facebook Messenger for someone else and I'm starting to reach the depths of my social media. Because I don't... I have nothing else behind it. I don't know what else exists.

Dave Burnett:                    Instagram.

Thom Dallman:                  Instagram. Snapchat.

Dave Burnett:                    Here's a little push for both of your companies. For Core Group Realty, the expand for Flagstar. You both really have all avenues open to you. Whether it's text, whether it's email, whether it's snail mail, whether it's Facebook. Both companies have all avenues available.

Ron Wieczoerk:                Now I'm going to switch gears a little bit because I don't want us just to think we love to spend money and we're just being reckless. That's probably pie in the sky, right? That's your dream home and it's fun to answers those questions saying "If I had the opportunity to live in my dream home" because most people don't get that opportunity to live in what they consider their dream home. And some people might be in... what other people consider a dream home, and they have another dream home on top of that, that's maybe just more flashy, more expensive. So it's all relative.

                                                Potential home buyers are doing what they need to do to buy a home. It's becoming more and more popular because after 2008 there was a huge sentiment that buying a home is no longer a good investment. And that resonated with a lot of people for a while and now it's starting to come back to where, okay, this is what my dad was talking about before that buying a home is a good investment or my grandparents or whatever. Because they were just so snake bitten by that. So, but now it's getting... We talked about side hustle which is a second job and there's more and more people that are saving for down payments by getting a second job. The popular methods to earn extra cash on the side... What do you think the number one way to make cash on the side is?

Dave Burnett:                    Legally you mean?

Ron Wieczoerk:                Legally. Yes. Yes. Let's keep this clean gang.

Thom Dallman:                  I'm going to say Uber. I used to talk to so many people who are Uber drivers, have full-time jobs, they do Uber on the part-time just to get extra cash to do things.

Ron Wieczoerk:                Of the top four, that's number three-

Thom Dallman:                  Oh okay. Yay. I got one.

Ron Wieczoerk:                ... is drive for a ride share. 

Thom Dallman:                  Your turn Dave.

Dave Burnett:                    Oh fine. Take the easy one.

Ron Wieczoerk:                They knew it was easy.

Dave Burnett:                    Well I would just say, probably just a part-time retail job.

Ron Wieczoerk:                Okay.

Thom Dallman:                  Part-time retail.

Dave Burnett:                    Does that count?

Ron Wieczoerk:                Starting a small side business is not that, so that's number two. Selling items online, a lot of people are selling items online to get extra money.

Dave Burnett:                    I can see that.

Ron Wieczoerk:                And that's 37% and-

Thom Dallman:                  Selling what kind of items though? Like personal items? I just found Facebook Marketplace recently and cleared out my garage. I sold a whole bunch of stuff. Made about $2000 out of stuff out of my garage.

Ron Wieczoerk:                You're part of this 37% and I think that's what that is.

Thom Dallman:                  Yes. There you go, I got it. I know I'm there.

Ron Wieczoerk:                I don't think it's anything mischievous. I think it's really just things that maybe in their past they have no use for or maybe they upgrade something and it's sitting in their garage, sitting in storage. I still have a storage unit, I'm embarrassed to say how long I've had this storage unit. I've paid more over the past three years for this storage unit than what's in the storage units.

Thom Dallman:                  Than what it's worth.

Ron Wieczoerk:                So it's kind of embarrassing that that's a thing. I should join this 37% club because I really need to get rid of a lot of things.

Thom Dallman:                  It's super easy.

Dave Burnett:                    Speaking of young people. I have a daughter that has kind of started an online business selling, she sells, what do you call it? Like T-shirts and coffee cups and things like that which, she has a little machine that puts them right on there and is doing a side business with it.

Ron Wieczoerk:                She's part of two of them. She's part of the 37% of selling things online and then 21% of small side business. So, that's extremely popular. The number four on the list was dog sitting or dog walking. Some people were finding extra cash by doing those kind of things.

Dave Burnett:                    Wow.

Thom Dallman:                  Interesting.

Ron Wieczoerk:                That's a big market.

Dave Burnett:                    Dog walking?

Ron Wieczoerk:                Dog walking or dog sitting. Think about it. I mean-

Thom Dallman:                  Oh yeah, we hire a dog sitter all the time when we go out of town and house sit for us because we have plants we need watered and we don't like our dogs to go to boarding houses and stuff like that. So-

Ron Wieczoerk:                Sometimes when you do the math on the boarding versus having somebody, maybe it's a college student that lives with their parents, and they like your home better and being away. So, it's not like you're paying what you would pay a boarder and you know the care they're getting and you're not exposing that dog to an environment that may or may not be harmful. And I'm not saying it is, but you never know. So, that's become a big business.

Dave Burnett:                    But all are forms of side hustle.

Ron Wieczoerk:                Yes. All side hustle.

Thom Dallman:                  Side hustle.

Ron Wieczoerk:                Plus, with dual income families and say, both spouses are out all day and you have a dog that has to be crated and they have to be let out it makes sense to get someone in there. 

Thom Dallman:                  Poor dog.

Ron Wieczoerk:                I think I was put on pause.

Dave Burnett:                    No, that was me, I put myself on pause for a second. I was just checking our time in our segment.

                                                So these are things that people are beginning to do right for getting debt free.

Ron Wieczoerk:                So it's really, I just wanted to kind of do the dream scenario and then bring us back to life and saying it's not people being irresponsible, it's just kind of, a pie in the sky, and we are seeing that potential home owners are now hustling to do what they have to do. So, a lot of the stigma is new generations are lazy. I don't believe that, it's just they do things differently than my dad did, and his dad did. They're going to a factory for 40 hours a week. They're doing things differently and making money different ways and that's okay.

Dave Burnett:                    And in someways, smarter.

Ron Wieczoerk:                Yeah, right? Do what you like.

Dave Burnett:                    My daughter, she does this second thing so she can do it at home in the evening. And she's not taken away from the house. So.

Ron Wieczoerk:                Just because it's different doesn't make it bad.

Dave Burnett:                    Get off my grass.

Ron Wieczoerk:                Exactly.

Dave Burnett:                    You old man.

Ron Wieczoerk:                I've heard you say that more than once.

Dave Burnett:                    Hey Ron, if somebody wants to talk to you, there, at Flagstar to take out a loan, to find out if they qualify for a loan, how do they get a hold of you?

Ron Wieczoerk:                My cellphone's always on me. It's direct is area code 208-869-9154.

Dave Burnett:                    Flagstar Bank, of course, one of the sponsors of the Idaho Real Estate Buzz along with the folks at Core Group Realty @eXp. Call them today, 208-933-7777. Find out why they say "You get more, with Core".

 

 

 

Segment 3

 

Dave Burnett:    This is the Idaho Real Estate Buzz. He is Thom Dallman, the co-owner, also one of the executive... What's your official title?

Thom Dallman:  Associate Broker.

Dave Burnett:    Associate Broker.

Thom Dallman:  I guess I kind of... What's the term when you get pushed down in a job, down a level?

Dave Burnett:    You demoted.

Thom Dallman:  I demoted myself from Designated Broker to Associate Broker.

Dave Burnett:    And the reason being is, you have more time now.

Thom Dallman:  Yeah. I have more time to focus on my agents and helping them to be better for our clients and really making sure that our clients are getting the best experience that they can when they come to Core Group.

Dave Burnett:    Yeah. Which, I know when you made that change, and became Core Group Realty at EXP, I know you thought a lot about, we've talked off the air, but you thought about a lot about it.

Thom Dallman:  Oh yeah! It took me months to make that decision.

Dave Burnett:    Talking about the fact that, I wouldn't say, it was stepping back, it wasn't a demotion so much as, it was stepping back and allowing somebody else to carry the paperwork, that overhead, so that you could invest more time in helping your customers and your employees.

Thom Dallman:  Exactly.

Dave Burnett:    Not a move taken lightly by you Mr. Dallman.

Thom Dallman:  No, no, it was not and, but it's something that I have been very happy that I did. I'm coming up on our one year.

Dave Burnett:    Has it been that long?

Thom Dallman:  It's been that long.

Dave Burnett:    Wow!

Thom Dallman:  September, it'll be one year since we did it. I haven't regretted it a single bit. It's been such a great experience for us. EXP Realty has been such a great brokerage for us to be with. I love all their concepts in their future planning and stuff like that. I don't know if I actually have told you this, but recently we were at their summit shareholders' meeting and they announced that they're actually expanding into Europe as well as Australia.

Dave Burnett:    Wow!

Thom Dallman:  Soon. So yeah, we're super excited. We just reached... they're opening up in two more providences in Canada this year as well. So we'll have five providences. They just announced that we just surpassed the 500 agent mark in Canada. That's after only being up there for a year. So we're going global and it's really an exciting time to be a part of this brokerage.

Dave Burnett:    It really is a case of things are changing everywhere.

Thom Dallman:  Yes, everywhere.

Dave Burnett:    The way business is done, the way companies work, it's all changing.

Thom Dallman:  We talked about, a lot about even 10 years ago, real estate was done so differently than it is nowadays with technology and just everything that we have a accessible. When we talked with Ron and them, around earlier about smart phones, nobody can leave their smartphones behind. Everything is done online. Everybody's looking online.

                                So to be a part of a company that's forward thinking and actually grasps that concept and that has always been a part of Corp Group's philosophy. We've always been that tech-savvy brokerage that is using the newest and latest systems and innovations to help our clients and help our agents and so forth. To be able to put it into-

Dave Burnett:    And that changes weekly.

Thom Dallman:  Yes. Oh yeah.

Dave Burnett:    The new things that come out.

Thom Dallman:  Oh yeah, and that's the importance of... that's why I tell my agents all the time, "You need to go to these conferences." And that's why I attend a lot of them, is to see what's changing, what's new, to keep tabs on the industry and make sure that we're staying on top of what's out there and stuff like that.

                                And that's what, ultimately brings us back to our home search site for people to go and be able to look at homes and be able to do it in a very easy way online and have that system for them to be able to look at the most active new listings and stuff like that that are happening out there.

Dave Burnett:    It makes a huge difference when it comes to buying and selling homes.

Thom Dallman:  It is huge.

Dave Burnett:    Somebody gave advice to me at one time. You want to be ahead of the curve. You want to be ahead of the wave, you don't want to be buried by the wave.

Thom Dallman:  Exactly.

Dave Burnett:    And that's really what becoming Core Group Realty, at EXP is, getting ahead of that curve and ahead of the wave.

Thom Dallman:  Exactly.

Dave Burnett:    Not where we meant to start going on this, just that we wound up there! Give you a little background about Core Group Realty at EXP, but we did want to talk about buying versus renting.

Thom Dallman:  Yeah, we talk about this on occasion about the pros and cons of buying versus renting. I really wanted to kind of focus on a lot of the pros because rents are just going up just as what... just as much as house prices are. But in those entry level homes, in those beginner homes, the homes are, and especially with the low interest rates right now, are so much more affordable and you're investing in yourself when you buy a home. You can actually find some homes out there that are renting for higher than what you can get a mortgage payment on and stuff like that. And so, there's definitely some pros into buying versus renting. So if you're out there renting and you're on that verge, I would not hold off. I would really look into it and see what you can do and what you can get for the same price of what you're paying your paying for rent.

Dave Burnett:    And I'll put a plug in here, give Thom and his folks who call at Core Group Realty at EXP. You can have a free consultation and I think I know your people, enough of your people, in the office at Core, and I know you, that if somebody sits down to consult and buying really isn't right, you're not going to try to suck them into it.

Thom Dallman:  No, we're going to figure out what's right with you. And that's why we have, we love our preferred lenders as well. Our lenders that we partner with have that same philosophy. They're not going to sit here and force you into a mortgage that you can't afford. I've actually heard one of them tell a client before, "Yes you can afford it, but do you really want to be strapped into this house and not be able to go out to dinners? Because I can see from what you've given me is-

Dave Burnett:    A Lifestyle.

Thom Dallman:  Your financial lifestyle that you'd like to go out and eat and stuff like that. By taking this higher price point home that you are qualified for, you're going to have to skip out on some of that stuff." I've heard the lenders talk our clients down from those high price points into a more reasonable something so they don't have to give up lifestyle.

Dave Burnett:    But the pros when it comes to buying, lists some of the pros to me, if somebody is on that verge, and thinking, "Should I buy?" What are some of the pros?

Thom Dallman:  Yeah, well obviously there's you're investing in yourself. You're not investing in... Any way you look at it, whenever you rent or whether you're buying, you're paying a mortgage, whether it's your mortgage or your landlord's mortgage.

                                So, you're actually investing in yourself, you're paying your own mortgage, you've got your tax incentives, we talked about that. There's certain tax incentives, being able to write off your interest rates.

Dave Burnett:    Property taxes.

Thom Dallman:  If you do upgrades, if you do upgrades to your house and certain things are tax write offs that you can do, especially if they're energy efficient upgrades and things like that. The fact that you can even do those upgrades to your house, you don't have to ask your landlord's permission is a pro. You can go paint your house black if you want and with pink trim.

Dave Burnett:    Long as your Homeowner's let you do but inside, if you want to paint it flaming red, you can do that on the inside.

Thom Dallman:  Yeah, exactly. So you have that flexibility, that home ownership pride of being able to do whatever you want in your house, to a certain extent.

                                Nothing illegal out there, but it really kind of helps you to be yourself and to be in control of your home. Never having to ask your landlord. Never having the fear of your landlord kicking you out.

Dave Burnett:    Yeah.

Thom Dallman:  There's that concept. I hadn't really thought about that in the past. But if you think about it, especially with some of these people that we've helped sell recently, who have tenants in their house. And they're like, "How do we tell our tenants that we want them to move out so that we can sell the house?" There's certain things that they have to follow, guidelines that they have to follow, give certain notice and stuff like that. But now here the tenants are, you know, with a 60 day notice or a 90 day notice that they have to vacate the premise because the house is being sold and stuff like that.

Dave Burnett:    Well, I had one of my kids, they were renting and they got a note saying that as of, whatever the date was, your rent's going to go from $900 a month to $1300 a month. So you can either pay it.

Thom Dallman:  That's crazy!

Dave Burnett:    Or you move!

Thom Dallman:  Or get out, yup. Well see and that's another thing. When you buy a house, your mortgage rate's fixed, it's a fixed mortgage that you know that for as long as you have that loan, you're gonna pay the same amount unless you get a balloon loan, which doesn't happen very often nowadays. But yeah, you always will have that same amount. You'd never have to worry about inflation. You're safeguarded from inflation and from rents going up.

Dave Burnett:    And truthfully with that, if you're paying, if you're paying $1000 a month for a house payment, and if things go the way you should go, you should be getting raises suddenly. If that thousand dollars a month is a lot, four years from now, that thousand dollars going to look pretty good.

Thom Dallman:  Yeah, exactly.

Dave Burnett:    So, just over a little bit of time, a little sacrifice there. Suddenly you have a... and then you have the equity built into.

Thom Dallman:  Exactly. Exactly. One of the most interesting concepts that I hadn't really thought about before either, and I read an article recently, was this idea that homeowners actually buy or spend less in furniture and stuff for the home when they own a home versus when they rent. And actually as I read it, I'm like, "Oh, that actually makes sense." If you think about the fact that most renters on average have to move, either every year or every two years for certain things like that, maybe they get, the rent gets increased to where they can afford it and they have to move or landlord kicks them out or whatnot.

                                So every time a renter moves, they have to go buy new furniture, new things to fit into the new house that they're getting or the apartment that they're getting.

Dave Burnett:    The couch doesn't fit suddenly.

Thom Dallman:  Yeah. All of a sudden they find a rental and they would really like it. They get in the find out that their couch doesn't quite fit and so they have to now go buy a new couch. Or maybe it's even, "Oh it's a smaller house, smaller living room. Whatever it is, whatever the situation is, homeowners, you know, because they live in their homes for 10 plus years right now, they buy less furniture because they have what they have. They have the same furniture that they live in. And when I thought about it, I'm like, "Well crud, yeah. I've had the same furniture."

                                We had our furniture for about six years now. It's probably time due to get some new furniture.

Dave Burnett:    I see Willie's on the phone.

Thom Dallman:  Right! But yeah, you can... you know that you don't have to spend as much money on furniture and accessories and things like that because you tend to just keep the same thing over and over. And we haven't replaced our curtains , our blinds or anything like that in the nine years that we've owned our home. But where, you know, when you move into a rental, you might have to buy curtains and stuff to go over the windows and things like that.

Dave Burnett:    I guess the, the bottom line here is, we kinda took that first half of the segment and talk about Core Group at EXP. The bottom line is if you're thinking about, if you're on the bubble thinking about, "Should I rent or should I buy?" give the folks at Core Group Realty at EXP, a phone call. Free consultation, no obligation.

                                And they're not going to try to trick you into, "Hey, we can trick this one into buying a home," right? You want to make sure that you're getting for them what they need and what they want.

Thom Dallman:  Exactly. Yeah. We 100% endorse consultations, sitting down and interviewing agents, making sure that you find that right agent and not someone that is going to force you into doing something that you either can't afford or that's going to put you into a strapped lifestyle and stuff like that. And we would never force anybody into that. We have no contracts. We have the guarantee that if you're not enjoying our business, we'll let you cancel your contract with no fees. Because we want everybody to have the best experience that they can in purchasing real estate. It's already stressful. You don't need an agent that's going to make it even more stressful. Right?

Dave Burnett:    Yeah. As we've always said, it is probably the biggest investment you will make in your life. So it is stressful and it is a commitment.

Thom Dallman:  Exactly.

Dave Burnett:    You know, there is a commitment that's involved there. Core Group Realty at EXP. You can call them at 208-933-7777, or find them online at coregrouprealty.Com, one of the sponsors of the Idaho Real Estate Buzz, along with the folks at Flagstar Bank. Do this. Find out why they say you get more with Core.

 

 

 

Segment 4

 

Dave Burnett:                    This is the Idaho Real Estate Buzz. He is Thom Dallman:, the co owner, associate broker at Core Group Realty at EXP. CoreGroupRealty. com. Call them today, (208) 933-7777. That is the phone number for you to call. Earlier in the show we were talking about building and buying new, and we touched on coordinating closings.

Thom Dallman::                The dreaded simultaneous close. You don't have to dread it, it's not that bad.

Dave Burnett:                    Okay. I told you this during the commercial break, if I were doing a for sale by owner and trying to coordinate getting into the new place and out of the old place, it would scare me to death.

Thom Dallman::                Oh yeah. It can be really ... Even when you have a trusted advisor, and a real estate advisor and all the people that are lined up, it can be such a stressful situation. Because first of all, just going to what does a simultaneous close mean? It means that you're selling a house to buy a house, and you have to have the funds from the one to pay for the other. So you're trying to simultaneously close those at the same time so that you can fund the new house. So that means at a specific time when that house funds and records, you have to hand the keys to the buyers of your house and you have to be out of it, because they want to make sure that the house is cleaned and done and everything's out, and then also you're getting the keys to your new house so you have to at that point be able to get over there and move your stuff in.

Dave Burnett:                    There is this big black hole in my mind to where I'm standing on the curb with all of my belongings, wondering where to go.

Thom Dallman::                Waiting for those keys.

Dave Burnett:                    But there is a method, there is a technique.

Thom Dallman::                Yeah. Yeah. And if you have your trusted real estate advisor, they'll walk you through that process and make sure everything kind of goes somewhat efficiently and to help you with the things that you have to think about. Because there's so much activity that's going on at that point, because you're shutting off utilities and stuff at one place-

Dave Burnett:                    I didn't even think about that.

Thom Dallman::                Yeah. You're turning on your utilities and getting everything going at the new place as well. So you're trying to coordinate that during the week. You're trying to pack up all your stuff. A lot of people, like my current clients that I'm working with that are doing this, they're moving their appliances ... Well, not their appliances. Sorry, their refrigerator and their washer and dryer. So that stuff kind of has to be packed up. They have to have their food rationed out or figure out if they're going to go out to eat or what they're going to do for the couple of days that they have all that kind of ready to be packed up and stuff like that. And so there's all these little things that you have to kind of think about while you're going through this process. And like you said, are you just to having everything out on the curb while you're waiting for the keys so that you can get it moved in?

Dave Burnett:                    Or do you rent a storage unit for a month and take your time to move in and move this stuff in you want?

Thom Dallman::                Some people have done that. That's one of the options. I've seen people rent those pods where they'll pack the non-essential stuff into the pod so that they can actually pull that pod out, pull stuff out slowly but surely as they're moving in, and then just have the bare minimum basic stuff to live on all ready to go in a moving truck on the day of, or at least ready to be loaded into that day. I've had clients who have had everything the night before, everything loaded up, ready to go in a moving track, locked it securely so that nobody could break into it in the middle of the night and slept on sleeping bags in an empty house. I've had people who the week prior, they've had everything out of their house. We were able to negotiate with the sellers for them to move the stuff into the garage a week early into the house that they were buying [crosstalk 00:03:46]-

Dave Burnett:                    I was going to ask you, does that happen or could that be done to where you negotiate that?

Thom Dallman::                I would say probably maybe 2 out of every time or 10 times that this has happened, that's been an option. A lot of sellers are very reluctant to let people move their stuff in because the risk of anything happening to that falls on the homeowner.

Dave Burnett:                    And they're trying to get their stuff out.

Thom Dallman::                Yeah, exactly. A lot of times they're getting stuff out. So it works on vacant houses sometimes. So there's all that little negotiating and stuff like that. I've actually been able to negotiate with buyers to move in a couple of days later so that the sellers have a couple of days, they'll pay maybe a small amount of rent basically to rent the house from the buyers for two days as they're moving their stuff out. But then that falls also a risk for the buyers because what if the sellers nick something, you don't have any negotiation at that point. So you want to ask for a deposit, you want to ask for some security to make sure that if something like that happens, you have that money in hand to cover those things.

                                                So there's so many different things that you can think about and we can play with to try and make it happen. But it's not something that you have to be afraid of. It happens all the time. There's things that we can do, especially if you have a really good real estate agent that's experienced at this stuff who can help you walk through that process and make sure it's efficient. Everything's efficient and that you have the time and stuff.

Dave Burnett:                    Well, I hear about people doing it, and so it can be done.

Thom Dallman::                It happens all the time.

Dave Burnett:                    And I guess that's where you need to sit down, consult if you're thinking about it, if it's something that's a possibility. The folks at Core Group Realty at EXP can help people walk through and say, here's what you can expect.

Thom Dallman::                Exactly.

Dave Burnett:                    Doesn't mean necessarily it will go that way, but here's what you can expect and here are some of the side things that might happen.

Thom Dallman::                Yeah. And there's other things that we need to discuss, like pricing your house aggressively so that it does sell in time and that you can get it under contract, close at the same time. This transaction that I'm doing, we listed the house about two months prior to when our closing was due for our new construction. And so when we got a contract in we had to negotiate a longer escrow period, a longer time for that contract because they wanted to close in mid July, and the new home wouldn't be ready until August. So we renegotiated back and forth to make sure that the contract that came in on their current house was closing on the same time as the new one.

Dave Burnett:                    And that's where having that trusted agent really helps to have an expert. I mean, that's what you really need when you're doing ... Because again, and as we always say, this is probably the biggest financial transaction you will make in your life.

Thom Dallman::                Exactly.

Dave Burnett:                    So having a trusted advisor through it all is so very important. Thom, how does somebody get hold of you at Core Group Realty at EXP?

Thom Dallman::                Oh, let's see. You can give us a call, (208) 933-7777. You can email us info@coregrouprealty.com. Or you can just go to our site, CoreGroupRealty.com, where we have all the updated information, all these radio segments are on there in the blog section, there's a contact us page where you can just fill out a little form and it'll send it to us and we can get answers to you. If you're just looking for evaluation on your home, there's evaluation tab there too, so you can get a quick idea of what your home's value is. So multiple ways.

Dave Burnett:                    Now is the time to do it. You've been thinking about it, and if you want to get it done before school starts for the kids again, now's the time to get it done. CoreGroupRealty. com is a website, and of course they are the sponsors of the Idaho Real Estate Buzz along with the folks at Flagstar Bank. Call them today, (208) 933-7777. Find out why they say, you Get More with Core.

 

 

Ron Wieczorek

Flagstar Bank

208 869-9154

OpesAdvisors.com

Core Group at eXp Realty

208 639-7700

CoreGroupRealty.com

 

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