WEBVTT - Ep 362: Fix My Flip ft. Real Estate Guru Page Turner 0:00:06.559 --> 0:00:12.840 Hey, hey, hey, we're back. We're black, We're brown. 0:00:14.280 --> 0:00:19.760 Ambition, ambition, ambition, ambitious, ambition. Hey hey, hey ba fam 0:00:20.720 --> 0:00:24.400 Mandy officially had her baby. She is now a mother 0:00:24.480 --> 0:00:27.320 of Uno dos two beautiful boys. 0:00:27.880 --> 0:00:28.800 Rio is her first. 0:00:28.800 --> 0:00:31.639 I think Real's four now, and Remy the new baby. 0:00:31.720 --> 0:00:32.680 We loveing the literation. 0:00:32.840 --> 0:00:33.160 Queen. 0:00:33.560 --> 0:00:38.720 Rio and Remy and Mommy and baby and daddy and Rio. 0:00:38.560 --> 0:00:40.480 Are all doing really well. Sorry. 0:00:40.600 --> 0:00:43.880 You can catch up with Mandy at Mandy Money on Instagram. 0:00:43.920 --> 0:00:45.680 You know, send her some well wishes. She has the 0:00:45.720 --> 0:00:49.000 cutest picture of the baby. The baby is perfection. But 0:00:49.040 --> 0:00:52.559 Mandy's doing good. She's taking her break and so you know, 0:00:52.560 --> 0:00:54.760 we wish her well and all this love. But I 0:00:54.800 --> 0:00:56.960 am here in the stew acting up because you know, 0:00:56.960 --> 0:00:58.440 when Mandy's not here, I get to act up. 0:00:59.160 --> 0:01:02.080 But I'm not alone. I have a special. 0:01:01.720 --> 0:01:05.480 Guest in here with me today to keep me partially 0:01:05.480 --> 0:01:06.040 in line. 0:01:07.200 --> 0:01:09.119 And her name is Page. 0:01:09.840 --> 0:01:13.840 Page is a real estate broker and a house flipping expert. 0:01:14.520 --> 0:01:18.000 Page Turner, to be clear lands her expertise to Southern 0:01:18.040 --> 0:01:22.759 California's overwhelmed flippers in HGTV's Fix My Flip. 0:01:22.840 --> 0:01:24.520 So you know she'd be on the TVs and Things. 0:01:25.000 --> 0:01:29.000 Page made her HGTV debut on Flipper Flop Nashville and 0:01:29.080 --> 0:01:32.759 appears as a guest judge on the hit series Rock 0:01:32.880 --> 0:01:36.600 the Block. In addition to being to being a licensed 0:01:36.640 --> 0:01:40.840 real estate broker in three Uno Dos Trace three States, 0:01:41.200 --> 0:01:45.399 Page is a certified personal trainer and co owner of 0:01:45.520 --> 0:01:49.440 the Jopa Life, a fitness and clothing brand. She also 0:01:49.560 --> 0:01:54.640 completed in season four of Rock the Block alongside contractor 0:01:55.040 --> 0:02:02.840 Mitch Glue. So we welcome Page to the stude a 0:02:03.040 --> 0:02:03.920 reader from all that. 0:02:04.080 --> 0:02:04.920 Thank you so much. 0:02:05.680 --> 0:02:06.720 We love an impressive for you. 0:02:06.760 --> 0:02:11.200 We love our extra hyphenated impressive queen. So question, you know, 0:02:11.480 --> 0:02:15.560 so fitness and real estate, those are two totally different things. 0:02:15.600 --> 0:02:18.280 So what came first or was what was your your first? 0:02:18.320 --> 0:02:18.680 Foray? 0:02:19.400 --> 0:02:21.240 Well, first was real estate. 0:02:21.320 --> 0:02:24.120 I've been a licensed real estate broker just about twenty years, 0:02:24.120 --> 0:02:24.680 so that's. 0:02:24.520 --> 0:02:26.440 Been my girl, my right hand woman. 0:02:26.919 --> 0:02:28.720 And then I realized I have to stay fit to 0:02:28.760 --> 0:02:29.640 stay in this business. 0:02:29.680 --> 0:02:33.760 So afterwards, so twenty years, I mean she started when 0:02:33.760 --> 0:02:35.360 you were five, because if you guys could take a 0:02:35.360 --> 0:02:37.280 look on YouTube page to its twenty five. 0:02:37.760 --> 0:02:40.960 So okay, twenty years. 0:02:40.440 --> 0:02:41.000 Twenty years. 0:02:41.200 --> 0:02:44.839 I just hit the half century marks, Tiffany, So I'm 0:02:44.880 --> 0:02:45.720 still coming to. 0:02:47.600 --> 0:02:50.640 I'm still I'm in disbelief that I'm fifty. 0:02:51.000 --> 0:02:54.720 So how I say it's because I'm like fifty where right? 0:02:57.080 --> 0:02:57.200 No? 0:02:57.200 --> 0:03:00.040 No, no, I'm twenty great, but you don't look a 0:03:00.120 --> 0:03:02.960 day over like twenty five thirty for real, I'm like. 0:03:03.600 --> 0:03:07.040 And you knew nowhere near forty three you had the 0:03:07.080 --> 0:03:07.880 skin is skinning? 0:03:07.919 --> 0:03:13.080 Okay, So let's talk about real estate, right, So twenty 0:03:13.160 --> 0:03:16.399 years ago, how did you enter into the real estate game? 0:03:16.480 --> 0:03:17.680 Like, how did that even start for you? 0:03:18.560 --> 0:03:22.120 Well, I am, well, my kids are super adults, but 0:03:22.320 --> 0:03:24.720 I was a single mom three kids under the age 0:03:24.720 --> 0:03:26.600 of three, two of them were twenty and three girls 0:03:26.600 --> 0:03:29.160 at that so you already know, miss you know Budgetsta. 0:03:29.280 --> 0:03:32.000 My money was out the window for a long time, 0:03:32.600 --> 0:03:37.480 and I just had to find a way. I acted 0:03:37.520 --> 0:03:39.800 out of college, have gone I decided not to, and 0:03:39.840 --> 0:03:42.000 then I had a great job with Magic Johnson. But 0:03:42.000 --> 0:03:44.000 then I had three children in Los Angeles and I 0:03:44.080 --> 0:03:47.000 was like, I'm afraid I'm going to be struggling for 0:03:47.000 --> 0:03:48.920 the rest of my life, and I just had to 0:03:48.960 --> 0:03:53.160 find another way outside of the hourly you know, or 0:03:53.200 --> 0:03:56.040 even you know, salary position, you know, to raise my 0:03:56.120 --> 0:03:59.280 girls with everything I wanted to provide for them, and 0:03:59.600 --> 0:04:03.080 really state became an option. I was didn't know anybody 0:04:03.080 --> 0:04:05.600 who owned a house besides Magic Johnson in Los Angeles 0:04:05.680 --> 0:04:07.960 because they're so expensive, and this is thirty. 0:04:07.840 --> 0:04:10.440 Years ago, there was still expensive. And so I found 0:04:10.440 --> 0:04:12.520 in real estate. Somebody just said you'd be a great realter, 0:04:12.640 --> 0:04:12.880 and I. 0:04:12.880 --> 0:04:14.600 Was like, I don't know what that means, but you know, 0:04:14.640 --> 0:04:16.520 because I've been renting my whole life, so let me 0:04:16.520 --> 0:04:17.159 go check it out. 0:04:17.680 --> 0:04:18.159 And I did. 0:04:19.000 --> 0:04:22.760 Okay, so you started off as a realter. Yes, do 0:04:22.800 --> 0:04:25.279 you remember your very first sale and like what you made? 0:04:25.320 --> 0:04:26.360 Like what you know it was? 0:04:26.080 --> 0:04:26.120 It? 0:04:26.360 --> 0:04:26.480 Was it? 0:04:26.560 --> 0:04:28.839 The rental property that you hit to out? Was the house? 0:04:29.000 --> 0:04:29.159 You know? 0:04:29.200 --> 0:04:29.920 What did that look like? 0:04:30.360 --> 0:04:30.760 It was? 0:04:30.880 --> 0:04:33.120 His name was Henry, I forgot his last name. But 0:04:33.240 --> 0:04:36.960 it was a trailer in a trailer park community. I 0:04:37.000 --> 0:04:39.400 didn't even realize the land didn't come with the trailer. 0:04:41.560 --> 0:04:44.159 That's the biggest house I've ever seen in my life. 0:04:44.680 --> 0:04:46.720 I'm whitting the box and I don't own the land, 0:04:46.760 --> 0:04:47.560 but I have to buy. 0:04:47.360 --> 0:04:48.680 The box anyway. 0:04:48.960 --> 0:04:52.440 Another in the whole other segment, right, But that was 0:04:52.480 --> 0:04:54.719 my first sale, and I think it was around twenty 0:04:54.760 --> 0:04:56.920 thousand dollars. 0:04:56.120 --> 0:04:59.480 And so that three percent about you know, six hundred. 0:04:59.240 --> 0:05:03.680 Bucks didn't make you say, like, way I could do this? 0:05:03.880 --> 0:05:05.919 Like how long into like you starting to become a 0:05:05.960 --> 0:05:07.239 realtor did you make that sale? 0:05:08.440 --> 0:05:10.320 It was probably in the first six months. And then 0:05:10.360 --> 0:05:13.480 after that I had my feet wet and I only 0:05:13.560 --> 0:05:16.200 knew I just moved to Nashville. I only knew three people, 0:05:16.240 --> 0:05:18.640 maybe five people at that time, and I went to 0:05:18.680 --> 0:05:22.200 a great church. And so after that hump my first 0:05:22.279 --> 0:05:24.880 year and a half in real estate, I mean I 0:05:24.920 --> 0:05:27.920 bought a house the next year, everything just like has 0:05:27.960 --> 0:05:30.280 been going since. It doesn't mean there weren't any valleys 0:05:30.400 --> 0:05:32.240 in all my peaks, because real estate is in peaks 0:05:32.279 --> 0:05:36.520 and valleys, as you know. But that was my first launch, 0:05:36.520 --> 0:05:39.200 and that's when I realized that when you run your 0:05:39.200 --> 0:05:41.080 real estate business is a business, then you. 0:05:41.120 --> 0:05:42.520 Learn off facets of real estate. 0:05:42.560 --> 0:05:44.640 So I can sell a ten thousand dollars piece of 0:05:44.720 --> 0:05:47.880 land to a twenty thousand dollars trailer to a five 0:05:47.920 --> 0:05:48.760 million dollar house. 0:05:48.839 --> 0:05:50.599 I learned the business of real estate. 0:05:51.040 --> 0:05:53.080 Okay, I love that, cause I was going to say, 0:05:53.080 --> 0:05:55.600 I know a lot of my friends who are like realtors, 0:05:55.640 --> 0:05:58.760 but you know, like it's only on the side, and 0:05:58.800 --> 0:06:02.000 so it's you know, and it's difficult to be a 0:06:02.040 --> 0:06:06.240 full time and two different totally different professional professional you know, professional. 0:06:06.279 --> 0:06:09.720 So no, I I could see that that like if 0:06:09.760 --> 0:06:13.240 you make realty your business, like selling or real estate 0:06:13.240 --> 0:06:15.520 your business, how you can expert that the process of 0:06:15.560 --> 0:06:18.120 the learning curve. So do you remember your biggest sale 0:06:18.200 --> 0:06:20.320 where you were like, oh, my goodness, this is a 0:06:20.320 --> 0:06:21.520 big expensive thing. 0:06:21.800 --> 0:06:22.920 Well, I mean the most expense. 0:06:23.080 --> 0:06:23.240 You know. 0:06:23.279 --> 0:06:26.120 I live in Los Angeles now, so you know. 0:06:26.080 --> 0:06:30.280 But in Nashville at the time, my biggest sale because 0:06:30.279 --> 0:06:32.400 I've been back home in LA for four years, my 0:06:32.440 --> 0:06:35.080 biggest sell in National at the time as my career 0:06:35.160 --> 0:06:38.560 was growing, was about two and a half million, you know, 0:06:38.640 --> 0:06:41.479 and that's well not really anymore, but at that time 0:06:41.600 --> 0:06:44.160 it was really big in Nashurally, everything's expensive now, you know, 0:06:44.320 --> 0:06:47.520 so but that was huge for me coming up and 0:06:47.600 --> 0:06:51.800 you know, out here I hit the should I tell you, 0:06:51.880 --> 0:06:55.320 I it's like talxibility big. It's not even that big yet, 0:06:55.520 --> 0:06:57.960 you know, but I've done a five million dollar transaction. Okay, 0:06:58.000 --> 0:07:01.000 so you know, I'm there's that's the tip of the 0:07:01.040 --> 0:07:03.800 iceberg in LA though. Yeah, I'm back home and I'm 0:07:03.839 --> 0:07:05.320 licensed and my show is going. 0:07:05.400 --> 0:07:08.000 I'm like, okay, now it's to really get my feet wet. 0:07:08.240 --> 0:07:08.320 No. 0:07:08.520 --> 0:07:09.120 I love that. 0:07:09.200 --> 0:07:11.640 So, so if somebody what are some of that, because 0:07:11.720 --> 0:07:13.480 right now we are in a very weird mark. I 0:07:13.600 --> 0:07:15.760 love your take. Like the market that we're in now, 0:07:16.400 --> 0:07:18.520 I feel like, you know, people are wanting to buy 0:07:18.520 --> 0:07:21.080 a home. They're like, should I wait? Should I buy now? 0:07:21.440 --> 0:07:23.440 Is the Should I wait for the interest rate to drop? 0:07:23.600 --> 0:07:24.920 Should I just be financed. 0:07:24.560 --> 0:07:25.240 With you know what I mean? 0:07:25.280 --> 0:07:28.640 Like, so, what's your take on this current housing market? 0:07:28.680 --> 0:07:30.480 Is it a buyer's market? Is it seller's market? 0:07:30.560 --> 0:07:33.200 Is it neither? So what's your take on this current market? 0:07:33.600 --> 0:07:33.840 Oh? 0:07:33.880 --> 0:07:36.520 This take, it's neither. It's right in between. You know 0:07:36.560 --> 0:07:38.280 what it is, it's selling real estate. 0:07:38.320 --> 0:07:39.200 So I tell people. 0:07:39.120 --> 0:07:41.120 Answer one of your questions first, Okay, should I buy 0:07:41.120 --> 0:07:41.880 a house now or not? 0:07:42.360 --> 0:07:43.320 This is my take on that. 0:07:43.600 --> 0:07:45.800 If you're in a position to buy a home, and 0:07:45.840 --> 0:07:48.000 if it makes more sense to own than to rent 0:07:48.000 --> 0:07:49.920 at this time in your life, then buy the house. 0:07:50.360 --> 0:07:51.840 Just don't buy the house singing In. 0:07:51.800 --> 0:07:53.600 Six months you're going to make a four hundred thousand 0:07:53.680 --> 0:07:57.440 dollars you know, profit off of it, because that's not 0:07:57.520 --> 0:07:58.240 there anymore. 0:07:58.600 --> 0:08:01.080 Buy the home to live in it, to love it, 0:08:01.640 --> 0:08:02.080 to do. 0:08:02.040 --> 0:08:04.040 Whatever you need to do, if anything, as far as 0:08:04.080 --> 0:08:06.360 you know, any renovations are. But buy the home for 0:08:06.440 --> 0:08:08.840 the long term. That's five to ten years. That's what 0:08:08.920 --> 0:08:10.920 it used to be. Not this. You just pull up 0:08:10.960 --> 0:08:12.960 in a house and then in six months it's worth 0:08:13.120 --> 0:08:15.920 you know, three hundred thousand dollars more. That was I mean, 0:08:16.120 --> 0:08:19.080 it was realistic but also unrealistic way to build wealth 0:08:19.080 --> 0:08:21.960 in real estate because it had never happened before. 0:08:21.960 --> 0:08:25.440 But that was due to historically low interest rates. 0:08:25.520 --> 0:08:27.880 But then that also caused the values to go up 0:08:27.960 --> 0:08:31.239 to a historic high. So the two and three percents 0:08:31.280 --> 0:08:34.600 are probably long gone. Six percent, six and a half percent, 0:08:34.679 --> 0:08:36.720 even seven. It's not the end of the world. When 0:08:36.760 --> 0:08:38.920 I bought my house, we were eight and a half percent. 0:08:38.960 --> 0:08:41.200 Interest rates back in the early two thousands. You go 0:08:41.240 --> 0:08:44.400 back ten years before that, they were in the double digits, 0:08:44.720 --> 0:08:45.600 and it was normal. 0:08:45.760 --> 0:08:48.720 If you're ready to buy, you buy, okay. 0:08:48.840 --> 0:08:50.800 So so neither a seller's market or a buyers market. 0:08:50.840 --> 0:08:53.520 It's just basically kind of like a free for all, 0:08:53.559 --> 0:08:55.480 and so yeah, we're ready to buy, are. 0:08:55.640 --> 0:08:59.320 You know, because there's some bubbles still Florida. I would 0:08:59.320 --> 0:09:01.679 think people were running from Florida, but that bubble is 0:09:01.720 --> 0:09:06.040 still growing Ohio. I mean these are growing bubbles still 0:09:06.040 --> 0:09:09.280 in a seller's market. So it just really depends on 0:09:09.320 --> 0:09:11.280 where you are. But for the most part, I think 0:09:11.360 --> 0:09:15.080 we're at this even balance where properties were staying longer 0:09:15.200 --> 0:09:17.720 on the market, longer than twenty four hours, you know, 0:09:17.760 --> 0:09:20.400 it's like, oh, thirty sixty ninety days on market. 0:09:20.160 --> 0:09:21.160 That used to be normal. 0:09:21.520 --> 0:09:24.120 And then at the same token, buyers aren't rushing out 0:09:24.120 --> 0:09:26.920 to buy, but sellers aren't rush rushing to sell. 0:09:27.160 --> 0:09:29.240 So we're doing this right. 0:09:29.080 --> 0:09:31.560 Now because I live in New Jersey and so I 0:09:31.600 --> 0:09:33.000 have seen likes go for. 0:09:34.640 --> 0:09:36.240 I mean for long time homes we have gone for 0:09:36.240 --> 0:09:38.600 fifties two or like one hundred thousand overasking and now 0:09:38.760 --> 0:09:42.040 just it's still a little crazy in Jersey. So it 0:09:42.120 --> 0:09:43.800 is one of the markets where there's still quite this 0:09:43.880 --> 0:09:46.520 bubble where things are not staying on the market. Like 0:09:46.559 --> 0:09:48.240 it's not like what it was during the pandemic when 0:09:48.280 --> 0:09:50.880 it was super crazy. I mean they were even hitting 0:09:50.880 --> 0:09:53.120 the market. Things were just being bought off market. 0:09:53.360 --> 0:09:55.280 Yeah, I mean a lot of new realtors who you know, 0:09:55.320 --> 0:09:57.400 bad their license maybe under five years. They don't even 0:09:57.400 --> 0:10:00.200 know what DOM days on market means. That means your 0:10:00.200 --> 0:10:01.840 house is on the market for an average of thirty 0:10:01.880 --> 0:10:04.719 sixty ninety days, not before it hits or twenty four 0:10:04.720 --> 0:10:05.960 hours after it hits the market. 0:10:06.040 --> 0:10:07.200 They don't know, you know. 0:10:07.240 --> 0:10:09.040 And I feel kind of bad for some realtors who 0:10:09.080 --> 0:10:12.720 are newer in this business because, with all due respect, 0:10:13.160 --> 0:10:15.760 realtors do a lot of work. But houses were selling 0:10:15.800 --> 0:10:18.679 themselves for a long time, and now we have to 0:10:19.040 --> 0:10:21.520 get back to marketing, get back to promoting, you know, 0:10:21.520 --> 0:10:25.760 promoting and property doing open houses, and it's the real business. 0:10:25.520 --> 0:10:26.080 Of real estate. 0:10:26.559 --> 0:10:27.040 I love that. 0:10:27.320 --> 0:10:29.079 So I want I would love for you to give 0:10:29.080 --> 0:10:32.400 some advice to like two sides. Right, So people are 0:10:32.400 --> 0:10:35.480 selling their property, whether now or whenever. What are the 0:10:35.520 --> 0:10:38.480 biggest mistakes that you see sellers make and the reason 0:10:38.480 --> 0:10:39.880 why their houses don't sell? 0:10:40.240 --> 0:10:41.400 Like, you know, what are those mistakes? 0:10:41.400 --> 0:10:42.800 And I'd love to know what are some of the 0:10:42.800 --> 0:10:45.680 biggest mistakes that buyers are making when they're looking to purchase, 0:10:45.840 --> 0:10:46.840 and what they can do to fix it. 0:10:46.840 --> 0:10:47.800 So let's start with sellers. 0:10:47.800 --> 0:10:50.440 First, someone comes to you and says, hey, Paige, I 0:10:50.440 --> 0:10:52.360 want to sell my house. I think it's worth a 0:10:52.440 --> 0:10:54.520 bajillion dollars or whatever it is, Like, what are your 0:10:54.520 --> 0:10:55.079 things feel like? 0:10:55.200 --> 0:10:55.440 Loan? 0:10:55.800 --> 0:10:57.560 We're gonna have the course correct before we put this 0:10:57.640 --> 0:10:59.480 on the market. Like what a mistakes are sellers making? 0:11:00.200 --> 0:11:01.439 You put that perfectly. 0:11:01.600 --> 0:11:04.120 The biggest with a first mistake, which is the biggest, 0:11:04.200 --> 0:11:08.000 is an unrealistic profit margin of where the market is 0:11:08.040 --> 0:11:10.199 and thinking their home is worth more than it is 0:11:10.600 --> 0:11:13.440 and going to Zilo or you know another I'll just 0:11:13.440 --> 0:11:15.079 say I won't i won't pen boring Zillow. I'll just 0:11:15.080 --> 0:11:19.079 say at dot com who doesn't have accurate updates immediately 0:11:19.480 --> 0:11:23.640 as your license really state professional will from doing a 0:11:23.760 --> 0:11:26.240 hands on comp. You know you've heard the saying you 0:11:26.280 --> 0:11:29.200 know you lie, numbers don't lie. So you have to 0:11:29.240 --> 0:11:31.240 course correct. You have to sit down and do a 0:11:31.280 --> 0:11:34.760 real listing presentation and show the numbers of the left. 0:11:34.800 --> 0:11:36.920 I don't even go six months back anymore for a comp. 0:11:36.960 --> 0:11:39.119 I'm doing the last thirty to sixty days. 0:11:39.120 --> 0:11:40.920 Because the market has changed that much. 0:11:41.240 --> 0:11:42.840 You know, if you give me a comp from six 0:11:42.880 --> 0:11:44.880 months ago, I was like, that's a completely different market. 0:11:45.120 --> 0:11:47.600 January was a different market, March was a different market. 0:11:47.640 --> 0:11:49.520 We're in second quarter now, so what was going on 0:11:49.559 --> 0:11:52.120 at the end of first quarter. That's what I'm showing client, 0:11:52.200 --> 0:11:56.360 So first an unrealistic expectation where the market is and 0:11:56.440 --> 0:11:59.480 being able to console them that your house is not 0:11:59.640 --> 0:12:02.080 worth what it was then and this is why. 0:12:02.400 --> 0:12:04.400 So can we get clear? Can you say pay? What's 0:12:04.400 --> 0:12:06.080 a COMP just so people know it before you go on? 0:12:06.240 --> 0:12:08.840 So a COMP or you might have heard CMA comparative 0:12:08.880 --> 0:12:11.080 market analysis, So a COMP is one a real estate 0:12:11.120 --> 0:12:15.200 professional will pull the most recently sold properties within the 0:12:15.240 --> 0:12:18.240 immediate community, like within a mile and a mile and 0:12:18.240 --> 0:12:21.600 a half, search of properties that have closed. Now, I 0:12:21.720 --> 0:12:24.600 also comp active and pending properties because that gives us 0:12:24.640 --> 0:12:27.839 an idea of where sellers slash agents are listing a 0:12:27.880 --> 0:12:30.520 property and like what the marketing is. 0:12:30.360 --> 0:12:32.959 In that neighborhood when they're active. 0:12:33.040 --> 0:12:35.079 But just because you list a property for sale does 0:12:35.120 --> 0:12:36.920 not mean it closes at that price. 0:12:37.240 --> 0:12:39.920 So what's most important that the appraiser is going to run. 0:12:39.760 --> 0:12:41.959 And look at as well is to see what is 0:12:42.080 --> 0:12:46.320 closed within those last sixty days, let's say, not comparing 0:12:46.320 --> 0:12:50.360 apples to oranges. A property that's a comp that's most 0:12:50.559 --> 0:12:53.760 like your subject property, the listing that you're going after. 0:12:54.280 --> 0:12:57.200 Okay, so like like bedrooms to bedrooms, bathrooms to bathroom, 0:12:57.200 --> 0:12:58.760 square footage. 0:12:58.840 --> 0:13:02.360 Stories to stories. You can't comp apples to oranges. 0:13:02.400 --> 0:13:05.040 And you can't comp a two story house that has 0:13:05.040 --> 0:13:07.480 five thousand square feet to a one story house that 0:13:07.480 --> 0:13:08.240 has fifteen. 0:13:08.040 --> 0:13:08.640 M square feet. 0:13:08.720 --> 0:13:09.880 Now I can do it because I don't want to 0:13:09.920 --> 0:13:12.440 make adjustments, but it's just not it's not a fair 0:13:12.440 --> 0:13:14.400 analysis to provide to a seller. So you want to 0:13:14.440 --> 0:13:17.560 be as close to possible as you can to show 0:13:17.559 --> 0:13:20.679 that seller what's going on in their neighborhood with homes just. 0:13:20.679 --> 0:13:21.520 About like theirs. 0:13:22.200 --> 0:13:24.600 So one you said, sellers make the mistake of thinking 0:13:24.640 --> 0:13:26.920 their property is worth too much. What's another mistake that 0:13:27.000 --> 0:13:28.000 sellers might be making. 0:13:28.520 --> 0:13:32.160 Another mistake is relying on the dot coms instead of 0:13:32.160 --> 0:13:33.600 their real estate professional and. 0:13:33.480 --> 0:13:36.720 Not looking at a printed. 0:13:37.160 --> 0:13:40.120 Comparable market analysis of what's going on in their media 0:13:40.200 --> 0:13:42.839 market and then digesting it and saying and accepting the 0:13:42.880 --> 0:13:46.040 truth like, Okay, here are the numbers, Like I can't 0:13:46.040 --> 0:13:48.000 make these up. This is what these homes sold for 0:13:48.240 --> 0:13:50.760 most like yours and this is where you are. 0:13:51.360 --> 0:13:53.079 Okay, okay, what about it? 0:13:53.160 --> 0:13:56.400 Do you think like sellers, should they be staging, like 0:13:56.440 --> 0:13:58.880 professionally staging or just even just personally staging. 0:13:59.360 --> 0:14:01.400 Oh, we can go to number three, four and five 0:14:01.440 --> 0:14:05.840 and six they're making so yes, so properly present okay, accepting. 0:14:05.400 --> 0:14:06.880 That we're in this new market. Number one. 0:14:07.000 --> 0:14:10.360 Number two, properly positioning the property on the market to 0:14:10.520 --> 0:14:10.920 sell it. 0:14:10.880 --> 0:14:11.840 So that it doesn't sit. 0:14:12.160 --> 0:14:14.400 You know, at the end of the day, a buyer 0:14:14.480 --> 0:14:17.479 is going to determine what any house is worth purchasing 0:14:17.679 --> 0:14:20.120 what they're willing to pay for it, right, So that's 0:14:20.160 --> 0:14:23.760 number two, number three, how they're presenting their property. So 0:14:23.840 --> 0:14:25.800 that does go with staging. Now, if they have a 0:14:25.840 --> 0:14:28.040 beautiful home already, and we can just move some nick 0:14:28.080 --> 0:14:30.880 knacks around, declutter, you know, do those basic things. Maybe 0:14:30.920 --> 0:14:33.760 lighten up some paint, change a few light fixtures. You know, 0:14:34.000 --> 0:14:39.440 not going overboard all the time is necessary, but sometimes 0:14:39.480 --> 0:14:42.400 you need a full on staging company, and especially to 0:14:42.480 --> 0:14:43.320 save a house is vacant. 0:14:43.360 --> 0:14:45.800 I have a client right now. I had I'm sorry, 0:14:45.840 --> 0:14:47.120 I just had a flashbag. 0:14:47.240 --> 0:14:49.000 I was about to roll my eyes and say some things, 0:14:49.000 --> 0:14:52.480 but just in case she watches this, you know, not 0:14:52.600 --> 0:14:54.120 only not have to send her and I have a 0:14:54.120 --> 0:14:56.920 television show on it. And sometimes people just get so 0:14:57.360 --> 0:14:58.920 you know, they put on their blinders and they just 0:14:58.960 --> 0:15:02.080 get so stubborn that they just won't accept any other way. 0:15:02.320 --> 0:15:04.760 And staging is a huge way to add a buyer 0:15:04.920 --> 0:15:08.720 value of interest wise in your property when listening it 0:15:08.960 --> 0:15:11.720 and when it's vacant, especially in a challenging home that 0:15:11.840 --> 0:15:14.160 might have you know, just odd angles or an odd layout, 0:15:14.280 --> 0:15:16.920 you have to spend the money stage it to get 0:15:16.960 --> 0:15:20.480 the top dollar as close to as possible that you're 0:15:20.480 --> 0:15:21.080 shooting for. 0:15:21.520 --> 0:15:24.600 Okay, all right, so they don't position there, they don't 0:15:24.600 --> 0:15:25.960 position their property correctly. 0:15:26.000 --> 0:15:28.600 What else we can go into. 0:15:29.360 --> 0:15:33.240 Sometimes sellers want to over renovate a property before they 0:15:33.240 --> 0:15:35.240 sell it because they think they're going to get more money. 0:15:35.600 --> 0:15:39.160 This will go hand in hand with guess what how 0:15:39.200 --> 0:15:41.280 you're going to list the property on the market based 0:15:41.360 --> 0:15:44.520 on your comp Because when a real estate professional is 0:15:44.560 --> 0:15:46.400 doing a comp they're not just looking at the numbers, 0:15:46.440 --> 0:15:49.200 they're also looking at what renovations and upgrades have been 0:15:49.240 --> 0:15:50.680 added to a property. 0:15:50.280 --> 0:15:53.200 To get to that list price. So it's not always 0:15:53.240 --> 0:15:53.840 needed you know. 0:15:53.840 --> 0:15:55.720 To do this full renovation because you don't want to 0:15:55.760 --> 0:16:00.320 outprice yourself from your comp from your market area. So 0:16:00.520 --> 0:16:03.200 you know, again walking through with the real estate professional 0:16:03.240 --> 0:16:04.760 will help that as well. 0:16:04.880 --> 0:16:07.120 So what's that number four or five to the Yeah, 0:16:07.160 --> 0:16:07.760 like four or five. 0:16:07.800 --> 0:16:10.480 So you mean something like I remember my my realtor 0:16:10.480 --> 0:16:12.600 told me something to the effect of, like, you know, 0:16:12.840 --> 0:16:15.440 like I would you know? Of course you think to yourself, 0:16:15.440 --> 0:16:17.280 if I spend one hundred thousand dollars on the kitchen, 0:16:17.320 --> 0:16:18.040 I'm going to get back. 0:16:17.920 --> 0:16:18.600 One hundred thousand. 0:16:18.680 --> 0:16:21.400 She's like, uh, that you it's not one hundred to 0:16:21.480 --> 0:16:24.200 one hundred that you might renovate for one hundred and 0:16:24.280 --> 0:16:26.760 get back sixty percent of that as it results in 0:16:26.840 --> 0:16:29.760 like the increase of value. So where would you say 0:16:29.800 --> 0:16:32.360 if a seller was going to put the money toward renovating, 0:16:32.400 --> 0:16:34.760 Is it still bathrooms and kitchens or are we thinking something else? 0:16:34.800 --> 0:16:38.320 Now? Well, of course it's bathrooms and kitchens. 0:16:38.400 --> 0:16:40.520 It's if you can open up a space if you're 0:16:40.560 --> 0:16:42.600 in an older home, of course, open that space up, 0:16:42.680 --> 0:16:47.440 but it shouldn't exceed fifteen percent of your ARV after 0:16:47.560 --> 0:16:50.600 repair value of your home. Now we're going to do 0:16:50.600 --> 0:16:53.400 a full kitchen renovation add an extra five percent on 0:16:53.480 --> 0:16:55.680 top of that, So you really shouldn't be in for 0:16:55.720 --> 0:16:57.720 more than twenty percent of what the value is going 0:16:57.760 --> 0:16:59.680 to be when you're done with repairs, and of. 0:16:59.600 --> 0:17:01.480 Course let's just say it is at the top of 0:17:01.520 --> 0:17:02.120