Matthew Maschler:
Welcome to the Real Estate Finder podcast. I’m Matthew Maschler, a real estate broker with Signature Real Estate Finder, and with me, the co-host of the Real Estate Find podcast, Stacy Garcia. And joining us also, Jill Glanzer. Hi, Jill. How are you? Good. How are you? Good. You guys, uh, you guys did this without me last week? Yes, we did. Yeah. How was that fun. Yeah, we, I, I listened as soon as it dropped. And you know what? It made me realize what well not realize. Wonder made me wonder how many of my agents, right. Agents that work for me listened to the podcast. Yeah. Right. Sometimes I talk to other agents and agents that don’t work for me, that aren’t expected to listen to the podcast, and they’ll ask me a question and I’ll be like, oh, you know, I actually covered that in the podcast.
Uh, episode 12, go, yeah, check that out. Listen, call me after if you have any questions. But I didn’t wanna start at the beginning. Right. But now that we’re almost a year into this, I think we are at, I think this is the 49th episode. Um, I don’t have a full memory of all the podcasts we did. If somebody asked me a question, I went, I start saying, I wonder if we did a podcast on that. So I have a few things written down, questions that agents have asked me that I, that I want to answer in the podcast. Um, but a couple things I wanna say first. So we were, so last week I wasn’t here. Uh, Stacy and Jill did the podcast without me. And then last week, uh, on the other podcast, the Matthew Mania podcast. That’s my personal, you know, how someone, someone has a business or personal phone number or business or personal email address.
I have a business and personal podcast. So, uh, so last week on the Matthew Mania podcast, Stacy sat in for Neil as the co-host of that podcast. So, so we switch, we switched, switched it up. You’ve been in, in a couple seats. Uh, I didn’t have much to say on that, <laugh>. Well, no, you talk, we, you talked about our, our, our big show next show’s until November 6th. So, um, so yeah. So we’re back in the Real Estate Finder podcast, and I wanna address something that you guys spoke about last week. Um, this issue of, um, any broker advertised. So, first, let’s talk about any broker advertise. Uh, when I list a property in the mls, um, it, I’m, I’m asking the real estate community to sell my property. Uh, one of the things I like about real estate is I have inventory, right? Uh, but I don’t have to buy and pay for the inventory and store in a warehouse.
The entire MLS is my inventory. I could sell any property in there. Um, but I’m not allowed to advertise other real estate agents listings. Now, that’s a fine line because, um, if someone comes to me and says, Hey, man, I wanna buy a four bedroom, four bathroom house in pheasant walk. Um, and then I say, okay, well, here’s an available house. I say that because that’s my newest listing coming up, <laugh>, but <laugh>. But, uh, but, um, and I’ll say, okay, well here, here’s five, uh, houses that match your search criteria. Those are other people’s listings. Am I advertising it? No, I’m not advertising it. Um, responding to a customer inquiry with relevant, uh, search results. So you’re allowed to present relevant search to a customer inquiry, but you’re not allowed to advertise it. I’m not allowed to put it on Facebook and say, um, you know, Hey, check out this great big house in, you know, XYZ Country Club.
If it’s not my listing, I’m allowed to do it with permission of the listing agent. And, and, and in that case, I do have to note who the broker is. So, with permission of the listing agent, you can advertise other agents listings. So my agents, since your real estate finder agents have my permission to advertise all of of my listings mm-hmm. <affirmative>, I want them to, that’s the point. They’re my sales force. They should be out there advertising. We had, um, our, our listing in the Bridges the other day and invited all my agents to come in and take pictures so that they can advertise it on their social media, Facebook, Twitter, TikTok reels or, or whatever. And, and the reason people do that is, is there’s no extra cost. Right? You, you have to spend time doing it. But they could put it in Craigslist, they could put it in the newspaper.
Any of my listings, my agents can, can advertise. They have my permission, but my competitors, I don’t have their permission to advertise. I can ask them, or there’s a setting in the multiple listing service. Uh, and, and the, and the question is, any broker advertised yes or no? And if, uh, an agent, uh, selects yes, then any agent can advertise their listing. And you don’t have to call first to get their permission. You have their permission. So a lot of people say like, well, the right thing to do is, uh, call and ask. Personally, I don’t feel I need to call and ask, because if it says advertise, yes, that means I have their permission. They want me to do it. I’m gonna go ahead and advertise, and I’m not gonna reach out to the other agent unless I have a buyer or, uh, or want a potential buyer to, uh, to show the, show the u uh, the unit too.
So that’s, um, any broker advertised in the mls. So last week, uh, Stacy and Jill talked about a property that was Eddie Broker advertised Yes. In the mls. And Stacy got a call from an agent, but it wasn’t the listing agent, but it was an agent who wanted Stacy to bring her customer to come see the property. And, and, and Jill, you guys talked about that for the whole episode, right? Yes. And the Yes. I wonder what Matt would think. So here I am, a week later, what would Matt think? I have no idea. I have no idea why an agent would call Stacy up and say, bring your buyer to this property. That’s not my listing. Um, can’t for the world think about it. Call the buyer up directly. Sure. Um, and you’re allowed to, um, you know, you guys talked about the buyer’ss information is, is available in the, um, in the, uh, in the county records.
So Sure. Call the buyer up directly. But why would that person call an agent? So, uh, so I called the other agent to ask him. I said, Hey, um, you know, my name’s Matt. You wanted us to bring our buyer to this listing, but I noticed it’s not your listing. Um, if we brought your buyer, we’d get paid by the listing agent. How would you make any money? And I didn’t want him to be, um, caught off guard. So I said, you know, I’m not looking to, you know, bust balls or anything. Uh, I wanna know for the future, right? If you have another one of these, and I bring my investor client, how do you get paid? What’s in it for you? Uh, so I called and I, I left a message and I asked him, uh, that question. But for the life of me, I can’t figure out why.
Um, any broker advertise, um, yes, would encourage it. It should encourage a real estate agent to find a buyer. I don’t understand why it would encourage a real estate, uh, agent to find another agent. You know, I had this issue, uh, years ago when I was representing Stone Creek Ranch in their sales. Um, because I was, uh, represent selling just the vacant lot and not the home. A lot of agents, uh, didn’t want to show it to their customer. Because if they had a customer who was gonna buy a five or $6 million house in today’s dollars, that would be 12 or 20 million house <laugh>. But if someone was gonna buy a five or $6 million house, why sell them a lot for a 1 million? Only get paid on 1 million If they could sell them somewhere else, that’s a $6 million house. Um, but then, because I was the, uh, I had a lot of the listings, but I didn’t have all of them.
Uh, if an agent came, if, if a buyer came in with an agent, I, uh, I actually, we had the, we had the model in the sales center. And if, uh, if a cu, if I was working with a customer, let’s say there were 10, 10 lots available, I’d have the 10 lots available displayed on, you know, I’d use pins to display the available lots. But if someone was coming in with an agent, uh, the three lots out of the 10 that weren’t my listings, I’d remove those pins as if they weren’t available, because the, I’m not representing them. Right. And if this person wanted to buy the, if this person had an agent and those lots were listed with somebody else, there was nothing in it for me. Uh, I couldn’t, I, I try to make the, the, the three sellers that had lots, um, and, you know, either listed it internally or whatnot, I try to explain to them that I can’t, you know, I can’t sell their lot, or, or if they had their house, I can’t sell their house to leads that come into the sales center because there’s nothing in it for me.
If they come with an agent and you are listed with an agent, there’s nothing in it for me to sell your lot outta my sales or your house outta my sales center. So I only sold my listings, um, when they had, uh, when they had a real estate agent. Um, because otherwise, what was the point of me being there? I don’t work for nothing. And, and nobody, I wouldn’t, I I, I, I wouldn’t represent anyone in that transaction. So it made no sense. So, yeah, it makes no sense to try to insert yourself into a deal, uh, like that. And I, and, and we called them, we left a message. You know, a lot of times, uh, when Stacy and I were, Jill and I talk, I say, Hey, let’s talk about that on the podcast. Cause I don’t wanna repeat myself. So today we got in and we didn’t record, and we talked about those issues. And I called the, uh, I called the other agent, Stacy says, oh, we should have recorded that. I’m like, oh, I didn’t feel right about recording a telephone call. Somebody I knew, somebody I don’t know, doesn’t know they’re being recorded. I didn’t feel right. Yeah. So it was, it was the opposite, right? We were sitting in the podcast studio talking about work, not recording <laugh>, instead of being in the office saying, oh, I wish we recorded that.
Jill Glanzer:
<laugh> totally different. So,
Matthew Maschler:
So, yeah, that’s my answer to your question last week. Uh, why would this agent do that? I have no idea what’s in it for him. I don’t know. Uh, and if he calls back, we will, uh, we will see. We will see. So
Staci Garcia:
That’s, we had, uh, you know, I’m gonna give a shout out to Robert for my, for listening and Robert
Matthew Maschler:
G
Staci Garcia:
Yep. Saying, Hey, Stacy, what was the reason that the guy called you? And I’m like, um, well, we’re gonna record that <laugh> and, um, I’ll let you know. But I, and then I, I did text the agent, but she hadn’t replied mm-hmm. <affirmative>. So I don’t know yet. So I guess, I don’t know. I hope he calls back.
Matthew Maschler:
Yeah. So, Stacy, when you, uh, so now most agents where they list a property, they leave the any broker advertisers. No. Right? That’s the 99% of listings, the common default, the no. So, I, I don’t, you know, so the anyone out out there is, is listening and thinks that the answer should be yes. I want, I wanna make sure that the answer’s no. Before I ask the question, Stacy, what do you, what do you choose when you, when you list the
Staci Garcia:
Property? I choose. No. However, I, when I first started, I remember asking you this several times. I’m like, Matt, why would you choose? No, why don’t, don’t you want everyone to advertise your property? Yep. And so now, um, that’s how I’ve started. And I started thinking, don’t you want more people to tell everybody about it? But as I, um, learned more about real estate, I realized how coveted the listing is. Yeah. As if you have something valuable and you want people to buy it, obviously, but you also could possibly find the buyer yourself. And that part I hadn’t gotten to.
Matthew Maschler:
Right. So we, we do, we do want to find the buyers ourselves as real estate agents. And some states don’t allow that Florida does. I think we’ve talked about it in the past on the episode. Yeah. Uh, Jill, what is your, your default?
Jill Glanzer:
Oh, I think it just depends on the listing. Mm-hmm. <affirmative>, um, you know, if it’s a really hard to sell listing, and I don’t think that my network of buyers would be interested, and I needed to expand my network, and I have, there’s some great agents that have those buyers, then I would say yes.
Matthew Maschler:
Yeah. Yeah. So I, my default is no. Yeah. Um, unless it’s very much out of my area.
Staci Garcia:
I was gonna say that also. Yeah. If it was like, uh, Sarah’s in winter, uh, winter Haven, winter Haven,
Matthew Maschler:
Winter Haven, the, the, oh, up near Lake, uh, lake Placid,
Staci Garcia:
Central Florida. Right. And it was far away, and you knew that those people had more exposure in the local area. I think it’s definitely should be any broker advertised.
Matthew Maschler:
Right? So, so I, I’m a member of multiple associations. And so if I listed something in Naples or, or, or Lake Placid, central Florida area, yeah. I’d put yes. Because I’m not spending a lot of my networking there isn’t that big. And if I don’t expect to get the buyer, that’s why would the buyer come to me? How could the buyer come to me in those areas? So let those agents, um, and, and not a lot look at the Burg advertising. Yes. I always do. Like, for instance, if anybody sees my homes and lands advertisements, um, you know, and my advertising’s different, right? If I put it in something in the book Observer, or simply the best magazine, I want it nice and shiny and branded nicely. But if I’m advertising in homes and land, I wanna advertise a lot of listings. Cause that’s what people go to that magazine for.
Um, so, you know, I’ll, I’ll get my listings or your listings, Stacy’s and Jill’s listings mm-hmm. <affirmative>. And then if I, if I have room, I go to the rest of my signature real estate finder team. Uh, and if I have room after that, then I’m gonna go to, um, any broker advertised Yes. In the communities that I tend to specialize in. Um, and, and there’s confusion. A lot of people do think it’s my listing. Uh, do I mind that confusion? No, not really. That’s the point. I’m a real estate agent. I can sell all these. So if it’s in Stone Creek or the Oaks or the Bridges, I wanna be able to sell it. And I’ll advertise that in Homes and Land. And if somebody calls me about it, I’ll make the appointment and I’ll go and show them the property. I did my job.
I earned my money. Um, so, uh, so yeah, I, so I’ll, I I do advertise other people’s listings if it’s any broker advertise. Yes. Um, and, but I don’t allow them, you know, my listings. I wouldn’t allow someone to advertise my listing in Woodfield or Stone Creek or, or the Oaks. I mean, one time I was on a Facebook group and I saw a beautiful listing. It was had all, you know, I was like, it was, you know, it was, I, I, I read the ad. I went, this is perfect for one of my buyers. I wonder who the, who, who who’s listing it is. And I see the listing courtesy of Century Real Estate Finder. I’m like, oh, this is one of my agents listings, <laugh>, this would be perfect for this particular buyer. And then I see the listing agent as me. I’m like, someone’s advertising my listing <laugh>.
Staci Garcia:
That’s funny.
Matthew Maschler:
Um, and I, and now I don’t remember. They didn’t have permission. I don’t think they had permission. No, I’m sorry. They, it was, uh, they had permission. It was one of my agents that listed it. Um, but I was, I was so confused when I saw that it was one of my listings. Um, and that’s the, you know, that’s the important thing of, of team. Um, I guess it was, it was probably the beginning of Covid and we weren’t getting together as much. So my team didn’t know that I had this buyer looking for X. Right. But can you imagine you have a buyer looking for X, and then one of your agents is, is selling X, and, and you don’t even know. And it Yeah. And you seen in somebody else’s, uh, Facebook post actually posted that pheasant walk listing in, uh, in a Facebook group called New York Jews Moving to Florida.
That’s a good, awesome. Yeah, that’s a good one. Great. You have to be careful, um, about, you know, not to discriminate in housing. Um, and I don’t discriminate in housing, but, um, you know, there are, there are, uh, there are, you know, religious Jews that want to, um, live close enough to the synagogue that they can walk on the Sabbath. Uh, so there’s certain communities that are more or more known for that. And, and that’s why some of those Facebook groups, um, exist. I, I definitely see violations of, uh, the fair Housing laws, uh, on Facebook and whatnot. And I, I think people, um, you know, either they’re not aware of the fair housing laws or they do it anyway. And, and it’s not meant to segregate against any particular culture or, or, but, but people do like to live among similar
Staci Garcia:
People. If they could make it, uh, uh, a space that you could search on the mls, a walkable to worship.
Matthew Maschler:
Right. But even walk, so even walkable becomes an issue. That’s true. Because what if you’re
Staci Garcia:
Disabled,
Matthew Maschler:
Or,
Staci Garcia:
And that’s not even the right
Matthew Maschler:
Word. Not even disabled. You walk faster than me. Yeah. Right. Walking can be, walking can be very subjective, and you can’t discriminate based on handicap and, and,
Staci Garcia:
You know, or maybe, um, a section that says within one mile
Matthew Maschler:
Of Right, but one mile, um, in a straight line or one mile on a walking path. True. And I don’t think there’s enough demand mm-hmm. <affirmative> for that search feature. So that’s why you’d need to call a expert realtor, who knows Boca Raton like myself, or Stacy or Joe, who knows where, uh, the different synagogues, different religious, uh, you know, synagogues are, if someone says they wanna move live near a pizzeria, a good pizzeria, or near a good, you know, close to a Publix or close to a particular house of worship, um, they can tell us what their needs are, and we can, uh, respond with relevant search that meets, we’re
Staci Garcia:
Like a, we’re like a MLS search. Yeah. But with a lot of different boxes, but with knowledge that says with, you know, walkable, I mean, let’s close intelligence close to good pizza checkbox. You know what I mean? Close to a really awesome shopping checkbox.
Matthew Maschler:
Right. It’s not a fair housing violation when a customer says, I want to live near a Catholic church, Jewish synagogue. Right. That, that’s a customer’s allowed to have that preference and we’re allowed to present search. Uh, if they say they don’t want to, they, they want to live in an, in an area where there’s a lot of Jewish people or where there’s not a lot of Jewish people, that’s a problem. Mm-hmm. <affirmative> bo both searches. That’s a problem. Yeah. You know, we can’t show people based on, oh, a lot of this race or this religion live here. No, I can’t do that. I can tell you, you’re, you’re within a mile of a church or a synagogue or a, or a mosque. Uh, so that, that’s a kind of the fine line between what’s allowed and what’s not. But we were talking about any broker advertise.
Staci Garcia:
The thing about any broker advertise is it could go many different ways. And for a new agent, it’s great
Matthew Maschler:
For a new agent to search. Yes. Right. Look, in your farm area, I want to sell in this, in these three communities, are there any, any broker advertise, um,
Staci Garcia:
Properties that you can advertise
Matthew Maschler:
Properties in that Yes.
Staci Garcia:
Do they have listings to start out with? No, they have start. That’s why when this guy called, I thought, oh, um, well, first I thought it was his listing, obviously mm-hmm. <affirmative>. But now that, then I’m thinking, well, maybe, and Robert mentioned this, maybe the guy’s a new agent. Yeah. And he’s just taking advantage of any broker advertising. He is calling it as his own.
Matthew Maschler:
But why is he listening to, he’s calling agents. It’s not buyers. He could, he could just check the property records for the buyers. Yep. So yeah, if you are a new agent, or if you’re an agent with no listings, you can search any broker, advertise in, in your farm area or whatever, uh, whatever criteria you want. Um, and then you can make Facebook ads, Craigslist ads post card,
Staci Garcia:
And you buyers take a picture of the n broker, advertise or screenshot it, and, uh, or take a, a page shot on your computer of the mls so that if the broker says to you, Hey, that’s my listing, you shouldn’t advertise it, and they change it later, you can say, here I have a picture of it. It says, any broker advertise. Yes.
Matthew Maschler:
Yeah. There’s, there’s also records in the MLS if, right. Yeah. Um, the punishment, right. For advertising, someone else’s listing, um, is, uh, yes. No, no, <laugh>, uh, we’re a member of a club. Right. Um, the Realtors Association and the punishment is someone, someone brings, uh, you know, uh, a case against you at the club level, and then there’s a, a grievance, uh, board. And, and then you say, Hey, listen, I looked, unless it said any broker advertise. So, uh, but, but besides that, even if, if it’s any broker advertised, no, you can always call a listing agent. I’ve called agents and, and, and I wanted to advertise in my a country club. And I called an agent that I, that I knew. I said, can I advertise your, your listing? Some, some will say yes, some will say no. Um, generally if an agent calls me, uh, if it’s an agent, I know, I would generally say yes. If it’s an agent, I don’t know. And it’s one of my farm areas. I don’t really, uh, like to, like, to do that. Um, but, uh, I’m, I’m usually pretty reasonable, uh, with, with some
Staci Garcia:
Agents are absolutely not. Um, you can’t negotiate. And they, you know, and or ask for it. And, and the one thing that surprised me was not just the advertising of their, uh, property or their listing, which I get it, if they wanna find the buyer themselves, and that’s totally cool. But I called, um, an agent saying that I loved your listing, not just can I advertise it, but, um, can I get the name of your photographer? Remember? And they were like, no. I was like, oh, wow. Okay.
Matthew Maschler:
Some, some, some trade secrets. Some trade secrets,
Staci Garcia:
Yeah. So, um, I’ll, and,
Matthew Maschler:
And think, and think about that photographer for a minute. Right. You know, who may need work.
Staci Garcia:
They do a good job for somebody. And that person says, I’m not gonna give you your name out to anybody ever.
Matthew Maschler:
Right. I’m not. I, he, he did a really good job. Mm-hmm. <affirmative>. Now, look, some can be very, very busy and, and successful, but you know what, you know, how much work did their photographer lose? I could never do that to my vendors. Right? Yeah. I could never, this doesn’t seem right. I want, I wanna promote my vendors. They’re like, they’re part of me. Like, you
Staci Garcia:
Can’t, you, you also, you can’t look on the MLS and see who the photographer was unless they’re one, one of the,
Jill Glanzer:
Um, the ones in the mls, there’s now a field where you could select the photographer,
Staci Garcia:
A certified,
Matthew Maschler:
I haven’t seen this. Oh,
Jill Glanzer:
Yeah. It’s a certified MLS photographer field. I don’t know if that’s the exact name. They
Staci Garcia:
Probably have to pay for that.
Jill Glanzer:
There’s like eight or 10, maybe there’s like 10 mm-hmm. <affirmative>, kind of like a subdivision Right. That you could select.
Matthew Maschler:
Right. Because I, I’ve had photographers in the past that were able to upload the pictures directly to the ml for me. That’s Yeah. Same.
Staci Garcia:
Yeah. So then those people are, and they do solicit, I’ve gotten tons of email from people that say, I am MLS certified to do the photography, and I will upload your photos for you. And I think it’s great. It’s an awesome service.
Matthew Maschler:
So I wanna give a shout out to my personal real estate photographer, Alan Kram of Elite Photography for all your, all of your, uh, real estate photography needs, all, all sorts of photography needs. Alan Kram at Elite Photographer. Um, you know, I have a lot of photographers on my list. It’s probably the second most, like, I’m, I’m, I’m, I’m solicited the most with title companies or title agencies, mortgage brokers and, and photographers. Yep. And, and there’s, you know, several photographers that live in my neighborhood, and every time I, you know, I use, I use one photographer, all the other photographers and say how, you know, they, they, they’re watching. They know. Um, but, uh, you know, it, it could be competitive and, uh, and, and it’s changing town companies. There’s like three in my neighborhood. Yeah. So, um, you know, that people that own, own, own title agencies, and, um, so yeah. So, uh, there’s, uh, my vendors, I have, uh, on the real estate finder.com, uh, website, there’s a, there’s a vendor list. So you can, you can click there and see my preferred vendors. It’s, uh, you know, and every time I, you know, if I add someone, if, if someone hasn’t been on for a while, like, um, uh, you know, that, uh, uh, Sherlock Holmes is not on the, um, home inspection list. Really? We have to update that.
Jill Glanzer:
Oh,
Matthew Maschler:
Okay. The home inspection list, we had to drop someone from the home inspection list a couple years back, because, you know, one time somebody complains that the inspector didn’t find something. Okay. It happens. They’re human. Second time, uh, uh, oh, the third time that someone complains that this inspector didn’t find something, then you have to say, I, I can’t recommend this inspector anymore. Mm-hmm. <affirmative>, it was, uh, it was tough.
Jill Glanzer:
Yeah. That was, that
Matthew Maschler:
Was rough. It was tough. But we’re very, very happy with the, with the new inspection company. We’re, we’re using, uh, Sherlock Holmes. Yes. Uh, it’s a shout out to the Riley family, where they’re actually doing an inspection for us today. Oh,
Jill Glanzer:
Cool.
Matthew Maschler:
And a two bedroom, uh, condo in Century Village. Nice.
Jill Glanzer:
Yeah. Oh, okay.
Matthew Maschler:
Where, where we represent the buyer. That’s
Jill Glanzer:
Great.
Matthew Maschler:
Yeah. Uh, $149,000 ask. Okay. We got it for 1 46.
Jill Glanzer:
Nice. Good deal. What’s the percentage off on that?
Matthew Maschler:
$2,000 off of one 50 here.
Jill Glanzer:
It’s
Matthew Maschler:
Good though. 1%. Hey, so, yeah. Uh, not 2%. So, um, so yeah, so, uh, so shout out to Sherlock Holmes because using anybody else would be a capital offense. <laugh>. I actually wonder if like, like I’m old. Yeah. But I, I wonder if, if
Staci Garcia:
You’re old, then I’m older <laugh>,
Matthew Maschler:
But I, I start wondering, like, at what point did, like at what age do people, like, they don’t even know who Shlock Holmes says anymore. Yeah. Like, that’s
Jill Glanzer:
Probably a little bit younger than us. A little
Matthew Maschler:
Bit younger. Yeah.
Staci Garcia:
Well, Rayen just started listening to the eighties. I know that your son listens to all the eighties our music. Yeah.
Matthew Maschler:
Eighties
Jill Glanzer:
Music. Eighties, nineties, everything, because he plays the guitar. Oh. So he, he goes to School of Rock and shout out to School of Rock, and, and he constantly is playing new, learning new songs, and he loves the eighties and nineties.
Staci Garcia:
Yeah. In order to get on my good side, and Ray will put on the seventies and the eighties, Uhhuh <affirmative>, and I’ll be jamming out and in a good mood. And he realized that it equals Right, right. Whether I’m in a good mood or not. And I think, uh, it makes me feel good because they have no idea who Michael Jackson is. You know what I mean?
Jill Glanzer:
Oh my God. Dylan loves Michael Jackson. He’s always loved him since he’s been very little Uhhuh <affirmative>. And the crazy thing is he passed away. Michael Jackson passed away the year Dylan was born. So he never lived in a world with Michael Jackson, but he loves him.
Matthew Maschler:
There’s a lot more Michael Jackson on the radio since he passed away.
Jill Glanzer:
Yes,
Matthew Maschler:
Definitely. I definitely noticed that. Okay. So, uh, we beat Eddie Brook advertise, uh, to death <laugh>. We, we beat last, last week’s, uh, strange encounter to
Staci Garcia:
Death. Yeah. And if, if he calls, I guess we’ll update you.
Jill Glanzer:
Yeah. I’m so curious.
Staci Garcia:
And you know what, if he calls, I’d like to update him.
Matthew Maschler:
<laugh>, he should call. Right? He should
Jill Glanzer:
Call because Matt’s message was
Staci Garcia:
Great.
Matthew Maschler:
Yeah. So speaking of call, um, you show a property to a buyer, the buyer says, looks great. I wanna make an offer. Do you call the listing agent, uh, to let them know or to ask them any questions? Uh, while you’re preparing the offer?
Staci Garcia:
I wanna say yes. Yeah. And I always make it a habit to try to skip the official offer before, just to find out if I’m way off in the bar. I don’t wanna be spending my time on the computer when I could just tell my buyer, there’s no way in hell they’re gonna accept our offer. I just wanna know right away. But it, you know, that’s just me. I will text the listing agent, say, I have a cash buyer, and this is what they wanna offer. Would there be any chance at all? And if they say yes, I’m like, I’m writing the offer right now. And if they say, no, absolutely not, then I move on. I don’t waste my time. So
Jill Glanzer:
I’m gonna counter that.
Staci Garcia:
I know,
Jill Glanzer:
Because for me, I would rather present the written offer and send it in, because then they have, usually an agent has the obligation to present a written offer. And how do I listen? Things happen with people, life changes every moment of every day. How do I know that today, the day that they’re presenting the offer, something happened where these people have to sell. So they might be in a different frame of mine than even the agent would know. Mm-hmm. <affirmative>. So at least now the offer’s being presented. Right. With all of the terms, not just the asking price. And then they can make a decision on what they wanna do. So that’s my take.
Matthew Maschler:
I
Jill Glanzer:
I, and I understand Stacy’s take,
Staci Garcia:
Right. Two,
Matthew Maschler:
I like to submit the offer cult. I don’t like the, to, to let the listing agent know that an offer’s coming. Some people like to say, oh, it’s coming. Oh, what is it coming in at? And then yeah, you give ’em the price and not, maybe not other terms. And they either get excited or not excited, um, and
Jill Glanzer:
They
Matthew Maschler:
Poo poo it, and they Yeah. But I like, I like to, the other problem I have is, well, if you could, you know, unless you have a very, very specific question, if you just call the agent, just let them know, Hey, I’m writing. We let you know we’re writing an offer, and then the listing agent lets, you know, we’ll make sure that it’s cash. Or make sure that the financing contingency looks this way or not. That, not that way. Um, now you’re kind of limited, right. And it becomes very difficult to do something different. Um, you know, and the, you know, listing agent might have bullied you into, into a situation where, um, you know, you present your offer, right? The buyer presents the offer. Right. So it’s the buyer’s terms. So, so the buyer can make whatever terms they want and have that presented like, like, like, like you said. But if, but if the listing agent starts telling you, you know, starts dictating things to you in the phone call that’s not in the listing, and it’s not in the showing instructions, what if
Staci Garcia:
It’s like, Hey, the seller wants to close on this day, or the seller needs another six weeks. They didn’t write it in the listing. Ah,
Matthew Maschler:
I’d rather submit the
Staci Garcia:
Offer had
Matthew Maschler:
Than write it. So let’s, let’s say, um, the seller wanted a, um, a let, let, if I knew what the seller wanted, I’d put the opposite in my offer.
Jill Glanzer:
Really? Yeah.
Matthew Maschler:
Because if, when you, when you’re negotiating, right? Right. If there’s four objectionable terms, and I can give on two, that means I could say strong on the other two. So if I could say strong on price Right. And accommodate the seller in a lot of other things, if my initial offer is perfect in all other ways, but let’s say the price, that’s the biggest thing right now. I, I don’t have anything to negotiate with. I don’t have anything to give. That’s smart. So if I make the, if I make it an, uh, you know, if I make it an a 90 day close and a 10, 10 day inspection, and this absurdly low price, and they come back to me and say, well, we want to close in 30 days and we only want a five day inspection, and we’re not gonna accept your price, but we’ll come down to this. I’ll say, okay, okay, listen, we’ll agree to that date that you want. We’ll agree to the short inspection, but we can only come up to here. Right. And now we’ve, we’ve negotiated terms, uh, that can make the other side feel like they got something. Um,
Staci Garcia:
You’d be good at the swap shop.
Matthew Maschler:
Yeah. Well, no, I’m not good in person. <laugh>. I’m, I’m not, I’m not good in person. Really. I can’t have in person, like when I go
Jill Glanzer:
On text,
Staci Garcia:
Yeah.
Matthew Maschler:
I am good on text.
Staci Garcia:
<laugh>,
Jill Glanzer:
I’m not good at, and on the phone. And on the phone.
Staci Garcia:
I like, I show my cards
Matthew Maschler:
Like a wrestler that I wanted to hire from NX show gave me a price. It’s a little high, but I don’t want to negotiate. Right. Right. I don’t wanna hire ’em at that price or not hire him at that price. Right. Let’s say he wanted 700. I don’t wanna go back and say, what’d you take four 50? Like, cause that I want everybody to be happy. I want him in at my show. You’re
Staci Garcia:
Risking your life. And I don’t think it’s worth 700. One
Matthew Maschler:
Guy in my last show had a sprained ankle. Really? And, and he is jumping off the rope and stuff.
Staci Garcia:
I’ve the guy that landed on the guy’s knee?
Matthew Maschler:
No, he had a sprained ankle two weeks earlier. Oh. He came in with food, ankle. If I have a sprained ankle, I sit in my chair. I don’t go to work. And I’m a, I work at my desk, my computer, <laugh>, I can’t go to work today. I got sprained ankle. This guy actually, he had a sprained ankle. He actually grabbed someone’s head with his feet and pulled the person down. I’m like, with a sprained ankle <laugh>. But, um, but no. So I want to, um, so in person, I, I’m, I’m, I’m, I’m, I’m, I’m a bit of a softy overtax that could be, everyone’s a bully on their keyboard. Yeah. So, um, you know, the, and the other thing I do, if, if, if I wanna make the offer very, very appealing, I’ll say, you know, we can close at your convenience. You know? Right. So, so I, so that, and that also, I’d rather say we can close at your convenience when I present my offer to make my offer look good than if I know from her or, you know, instructions that they wanna close on October 15th, and I put it in on October 15th.
Right. I’ve given in right. To what they wanted, and I didn’t get anything back in return. Interesting. So, so, you know, all right. Well, they, they really want a short closing, but you know, your seller wants a long closing. We’re willing to give you the long closing. We’re willing to do this, we’re willing to do that. But on this, we really have to remain firm. So I, I don’t like to reach out to the other o other agent. Uh oh. Now, if he, if they’re, um, at the showing, I’ll pick their brain a little bit mm-hmm. <affirmative>, you know, but, but unless they really have to, uh, I don’t want to, uh,
Staci Garcia:
Sometimes if you text them, they’ll say, don’t even bother. It’s under contract,
Matthew Maschler:
Or don’t even bother. It’s if
Jill Glanzer:
It’s, yeah, that could happen. Especially
Staci Garcia:
You just spent like three hours creating the perfect offer. Right.
Jill Glanzer:
You could just text them. Is this still available? Oh, I hate that. Is it under contract? It’s very frustrating, but, well, cause why, cuz it’s questioning the mls, basically. Yeah. It’s questioning you on did you market pending? Right. I know, but you know what? She has a point. Well, because you spending three hours getting your cu your number one, you’re getting your customer excited about the offer. Number two, now you’re writing the offer, you’re gathering all your information, and now the property’s under contract.
Matthew Maschler:
Okay. So instead of asking them if it’s still available. Yeah. If, if let’s now if you just showed it Yeah. Right. Then, then,
Jill Glanzer:
Then you kind of
Matthew Maschler:
Know, you kind of know, or, or you shouldn’t, you shouldn’t. So let’s say you showed it over the weekend, and now it’s Tuesday. Yeah. And your customer says you wanna make an offer, and you’re, you’re curious. Right. There were a lot of people showing it. And is it still available and it’s Tuesday and you, and you’re about sitting down to write the offer, make an appointment to show it on Thursday
Jill Glanzer:
To see if they’ll let you show it. Yeah. Or the next day, because then they’re gonna contact you. Sorry, it’s under contract. Right. It gets them to do something without you actually
Matthew Maschler:
Asking. Right. Make make an appointment to see it the next day at 9:00 AM If they confirm the appointment,
Jill Glanzer:
Then it’s probably still available.
Matthew Maschler:
Right. What, what is the likelihood that they confirm an appointment, but then tell, but, but tell you not to submit an offer. So make the appointment request. And if they accept that appointment request, then you basically know that they’re still showing it and that they, they don’t have another, they may, they may tell you, Hey, listen, you know, we’re, we’re, we’re out for signature. If you wanna see it, you gotta come in here. Yeah. That they may tell you that. They may, I think it gives you all the information you need to know right there.
Jill Glanzer:
Yeah. And I think the whole thing also depends on the market that we’re in. Absolutely. Because in the crazy market, when there were like 10 multiple offers, you kind of had to get a feel from the agent as to what was important to the seller.
Matthew Maschler:
No, you had to make an offer to,
Jill Glanzer:
I know you had
Matthew Maschler:
To to just to get the seller’s attention.
Jill Glanzer:
Yeah. I know that. Well, you had to make an offer to show, but that, forget about that <laugh>. But I think that sometimes I think it real, you ha nothing is a rule. Right. So what we learn here is that it really depends on the situation, the agent, the customer, their situation as. But generally, I like to present the written offer.
Staci Garcia:
Yeah. And I, and I like to text and see if it’s worth my time to write
Jill Glanzer:
That, because it is, it is a lot of time to write an offer. Mm-hmm. <affirmative>,
Matthew Maschler:
That is true.
Staci Garcia:
But I also find out stuff, you know, if I text and
Matthew Maschler:
They say, you’re very good at finding that information
Staci Garcia:
With people. Yeah. If they, if they say, uh, you know what, it’s under contract, but submit the offer as a backup. I’m like, Hmm. I don’t know if I wanna be a backup.
Jill Glanzer:
No. And most cu a lot of customers don’t wanna be the
Staci Garcia:
Backup. And originally, just so you know, so nobody feels stupid ever. In the beginning I thought that backup meant, um, it’s backup on the mls, <laugh> <laugh>. So, um, I, I don’t know. I take it very literal. That’s interesting. Interesting. So I want anyone out there that thinks, oh, backup means that it’s back up on the mls. Oh, it’s not back up on the mls. It’s, um, they’re accepting a backup offer. What’s
Jill Glanzer:
The actual status when it’s back on the MLS backup?
Matthew Maschler:
No, no, no. It, it’s now called active under contract.
Jill Glanzer:
No, but when it comes back on the market, it’s back on market. It just goes to active. There is no back on market. There used to be,
Matthew Maschler:
I think it’s just active. Okay.
Staci Garcia:
It used to be backup because I thought, oh, no,
Jill Glanzer:
No. It used to be be back on market.
Matthew Maschler:
Back up meant that they were accepting backup offers.
Staci Garcia:
Right. Right, right, right.
Jill Glanzer:
I think back on that, I mean, I could see how you would feel <laugh>,
Staci Garcia:
I’m like, oh, it’s back up. SO’S awesome. So we cannot make an offer. You know, but it, that was not right. And I do that a lot. I I take the words for what they actually mean in real life, and that’s not what they’re meant to be meant. And
Jill Glanzer:
Truthfully, the only market where backup was actually attractive was this past market that we were in. Right. Where a lot of the first contract would fall through and the backup offers would be accepted, but it doesn’t, you know, in the past it wasn’t really a thing. Mm-hmm.
Matthew Maschler:
<affirmative>. Um, there’s another topic I talk about, and that is, um, if the buyer is, needs to sell their property to buy the new property.
Jill Glanzer:
Mm. Okay.
Matthew Maschler:
Um, and, and usually you would use in the offer, you would, it’s called a, a home, uh, home
Jill Glanzer:
Sale.
Matthew Maschler:
Contingency.
Jill Glanzer:
Contingency. Yeah. It’s an addendum. Yeah.
Matthew Maschler:
So in the, the, the buyer besides having an inspection contingency in a mortgage contingency, they have a home sale contingency. Mm-hmm. <affirmative>. And, you know, it’s really needed. A lot of people really need this. They, they have a property somewhere else that they’re selling, and they’re gonna use that money to buy this property. And if that property doesn’t sell, uh, they can’t buy the, the, the new property mm-hmm. <affirmative>. And in the last two years, because it’s been such a seller’s market, a lot of sellers aren’t accepting that home sell contingency. So I had an issue, uh, and, and so people are not, um, putting in the home sell contingency. And so I submitted an offer. My buyer, uh, they were gonna use their funds. They were very comfortable that if the, um, house in, uh, in Brooklyn didn’t sell, uh, they, they default in the house in Florida and lose their deposit.
They were very comfortable walking away from the deposit. The deposit in, in New York was higher than the deposit down here. Um, so the entire time we submit the offer, I, I’m, I’m keeping my fingers crossed. Please don’t ask for proof of funds. Please don’t ask for proof of funds. Right. Because if they asked, right, it’s a cash deal. If they asked, where’s the money coming from, I couldn’t show them. And then I’d have to tell ’em it’s from this, um, you know, once the contracts signed, I could tell them, no problem. You know, what are they gonna do about it? The contract’s signed. Um, but if the, if the seller is, is thinking about selling it, uh, signing the contract, Hey, where, where’s this money coming from? Uh, well, they have to sell this house in, in, in New York. Um, oh, what happens if it doesn’t close, there can be an issue. Um, so that one, that one closed no problem. But recently, we, my buyer, um, made an offer with, with a home sale contingency. And, um, and it was a relatively new agent. And, uh, I, I don’t think I ever discussed, uh, the home sale contingency on the podcast. No, we haven’t. So that’s something I wanted to say. Yeah. So, uh, advise your seller. You get, you get an offer with a home sale contingency.
Jill Glanzer:
I think that, um, you know, based on if, if they get a home sale contingency, and depending if, if the property is on the market and under contract, and I could see the contract, you could cross out all the names, and I could see that it’s a cash deal or a deal that already, quote unquote, went hard, then I think it’s something you can accept and consider. Right. But if the property is a not on the market, if it’s on the market and it’s been on the market for 180 days at too high of a price. Right. It’s a problem. Because if it’s how long is that gonna be?
Matthew Maschler:
Right? If it, if it’s September 25th and we, and we we’re writing an offer to close October 25th, and that deal in, in New York may or may not even close that, that, that could be a problem. So, you know, as a seller, um, you know, you try to be human and you understand this is where the people are moving from. This is where they’re getting their money. You try to accommodate. But, but, but again, if the pro, if the property’s not even listed Yeah. Or if it’s listed in not even under contract, I can’t really advise a seller to accept that home sale contingency. If it’s under contract, pass the inspections with a scheduled closing date, then I, I then, then I, I, I think a, a seller would reasonably be able to accept a home sale contingency. If the
Staci Garcia:
Buyer didn’t already have a buyer, then they could use, um, a service that provides the, that guarantees the money. Right. Like open door
Matthew Maschler:
Or, uh, knock, knock, knock. Open door is, um, uh, uh, uh, a buyer. Right. You’re gonna just gonna sell to open door instead of putting market. That’s
Staci Garcia:
Market
Matthew Maschler:
I’m talking about though. But, um, but there’s, there’s ways of tapping the equity from the old home. And it used to be called a bridge loan. Um, so you, you, you have a home that you’re selling, it’s not under contract yet. Here you identify the home that you’re buying mm-hmm. <affirmative>. And, uh, someone will come in and lend you against the old house in order to,
Jill Glanzer:
Um, purchase the new one. I make an offer feeling comfortable making an offer.
Matthew Maschler:
Yeah. So, um, we actually have the, the company that does that, it’s called Knock, and there are knock certified, uh, agents. I’m not
Staci Garcia:
Certified.
Matthew Maschler:
You, you are not certified. Yes. Yeah. Mm-hmm. <affirmative>. So, uh, if you are in a situation where you do have a house and you want to, uh, buy a new, a new home, and you haven’t sold it yet, uh, to reach out to Stacy or any of our knock certified agents, but, um, and I, and, and I don’t know how Knock works with the home sale contingency, you might have No,
Jill Glanzer:
In that case, you wouldn’t have a home sale contingency No. Yeah. When you made the offer because you are feel comfortable that your house is going to be sold. So, and it
Matthew Maschler:
Goes under contract showing the seller is proof of funds.
Jill Glanzer:
You probably would have to show them something. You
Staci Garcia:
Could show them that your house is,
Matthew Maschler:
Um, probably the contract with Knob. Yeah. Get X number dollars.
Jill Glanzer:
They’re not the knock paperwork.
Matthew Maschler:
Yeah. Mm-hmm. <affirmative>. So, so that’s a good way to do it. So home sale contingency, um, it’s definitely needed. Obviously sellers don’t, don’t, don’t like it. And then the sellers market, they may not take it. And if there’s another offer that’s similar that doesn’t have it, the seller, uh, will hold it against you. But it’s a, it’s a problem for a lot of first time home buyers and, and, and, and people that, that, that need that home cell contingency. So my opinion is, um, if the property is listed and under contract and passed the deadlines and ready to close, it’s, uh, it’s, it’s, it’s, it’s, it’s a proper, uh, a property use of the home cell contingency. Yeah. So to the agent that asked about that, that I, I said I’ll talk about a little bit on my next podcast. So, all right. Yeah. And we covered everything we wanted to talk about. I think so. All right. So, yeah. All right. So thanks for joining us on the Signature Real Estate Finder. If you can’t get enough of me, check out the Matthew Mania podcast. And, uh, if you can’t get enough of Stacey here, Jill, just give him a call or text him in the middle of the night. Yeah. <laugh> <laugh>. I’m not sleeping. Anyway. <laugh>,
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