Ep. 55 – Buy or Sell with me and use this truck for free!!!!

Matthew Maschler:
Welcome to the Real Estate Finder podcast. I’m Matthew Maschler, real estate broker with signature real estate companies in the state of Florida. We have offices in, uh, Boca Ratton, Fort Lauderdale, Miami, uh, Palm Beach, um, island West, Palm Beach, Naples, Orlando, Jacksonville. So anywhere in Florida. If you’re looking to buy or sell, uh, real estate as, uh, as an owner or as buying for yourself or as a real estate agent, um, we can help you out at the signature real estate Companies of Florida and with me, the co-host, uh, Stacy’s a little bit under the weather. So, uh, Jill is filling in for, for her. Hi, Jill. How are you?
Jill Glanzer:
I am doing great.
Matthew Maschler:
So you’re not a, you’re not, you’re more than a guest, right? Like you’ve been on, you know, we, we have guests like one time maybe they come back. Jill’s not a guest, but she’s not like the co-host, so she’s like, uh, a hybrid. Uh, you know, I like to say that like, while someone has to be out there working while Stacy and I are recording the podcast, so, so that’s Jill out in the field, uh, helping, uh, buyers and sellers, doing inspections, doing showings, getting the deals done, and that’s, uh, that’s what Jill does best. Yes. That’s what he did this weekend, right? Getting the deals
Jill Glanzer:
Done. I did, I did.
Matthew Maschler:
So you had a question for me and I said, well, before you ask, let’s, uh, let’s wait until we’re recording, cuz that’s the point of the podcast and people ask me questions, I like to record ’em so that, uh, other, uh, people out there, agents or uh, customers can, can hear what’s going on. So, uh, what was your question for me?
Jill Glanzer:
So, yeah, my question basically is if, um, an inspection period falls on a Saturday, if it ends, if it ends on a Saturday mm-hmm. , does it extend till Monday? Yes. Okay. Yeah.
Matthew Maschler:
Well, first I have to say, it’s, it’s depends on the contract. Yeah. Right? Oh, any question. Any, you know, any real estate question always starts with looking at the contract. And, uh, and the contract that we’re, that is most common in Florida is the Florida as is real estate contract. And according to the Florida real estate contract, if the inspection period ends on a Saturday, Sunday, or holiday, uh, the, uh, inspection contingency extends to the following business day. Uh, obviously that would usually be Monday, right? But if it ends on a, if it’s a Memorial Day weekend, if you’re in, you count the days of, you know, Saturdays, Sundays, holidays count. If you have three day inspection, five day inspection, you it, it counts. Uh, but it, but if, but no periods can end on a Saturday, Sunday, or a legal holiday. So, uh, if your inspection period, if your contract, uh, was signed on a Friday, you have an eight day inspection period, it should expire on Saturday.
No, it’ll go to the next business day, usually Monday. But if Monday’s a holiday on Tuesday, and the revision two years ago to the contract, it used to make it at five o’clock. It used to be the next, next business day at five o’clock, they took the five o’clock language out. So it’s any time on that day. So even until 11:59 PM that, uh, contingency is still, uh, active and valid and, and protecting, uh, one of the parties. Yes. Jill did something. Uh, thank you. Uh, yeah. Jill did something, uh, swift. Something that only a very, very experienced agent, uh, could do. Um, our buyer in this case, um, we negotiated the contract for a few. The, the offers, uh, were negotiated for a few days, right? You make an offer, there’s a counter offer, there’s some back and forth. And the, the offer had a seven day inspection period.
Um, so when finally Penn goes to paper on a Friday, that meant the seven day inspection period would end the following Friday. Uh, normally that would be fine, but, uh, Jill had realized that the, um, that this buyer was also a seller on another deal and on that particular deal, um, even though it was past the inspection contingency, uh, the mortgage contingency was still open until that same Friday. And Jill thought to herself, what if at 1159 on Friday, the bo, his buyer canceled under the mortgage contingency and there wasn’t enough time to cancel under, under the inspection contingency. Theoretically, if the mortgage contingency, if it, you know, if they canceled in the morning, we’d have time. But what if the, the way the stars were lined up? So, uh, Jill did something swift and I thought it was brilliant. Um, she noticed that there was a page that was not initialed, um, properly or signed properly.
Um, so on, uh, Saturday morning, she sent the, uh, the documents back to the agent and said, oh, one more thing. Your seller needs to initial on page number X, paragraph four. They’re supposed to initial line 37. So the agent had their seller initial line 37, uh, sent it back, the buyers initialed it, and now the execution date was Saturday and no longer on Friday. Had, um, I mean, I guess arguably you could argue later that it was never executed, but probably because of those initials you would lose that, um, that that argument, if someone tried to get outta the contract saying it wasn’t executed well, if it wasn’t executed, why did you, you know, continue to do the inspections and continue to do, perform under the terms of the contract if it wasn’t executed? So, um, but we had the, now we had a fully execute contract on Saturday. It extended, uh, the inspection period till the following Saturday. But because it can’t end on a Saturday, it now ends on Monday. And therefore if, uh, basically our buyer got an extra weekend of, of the inspection. So I, I thought that was, uh, pretty slick. I’m pretty proud of Jill for, uh, for thinking of that. That was your intention in, in doing it and finding that one little initial that
Jill Glanzer:
Needs to Yeah, I mean it was, it was sort of like a little bit of a godsend, but yeah.
Matthew Maschler:
Do you think if it wasn’t for trying to extend, you would’ve wanted that initial signed? Or do you think
Jill Glanzer:
I think I would’ve, cuz I, you would’ve, I always.my i’s and cross my T’s. Right. I’ve seen things happen. So I like to be very, very sure and protect my buyer.
Matthew Maschler:
But were you looking for something that was off? Is that how you discovered
Jill Glanzer:
It? Little bit? Yeah. I, I decided to wake up cuz you know, the contract was executed sort of late on Friday night, and I was like at a family event at the same time. And I, uh, was like, you know what, let me just look at this contract, make sure everything looks good the next morning. Mm-hmm. . And I saw that and I was like, oh, that needs to be initialed. And oh, that works in the favor of the buyer. So that’s fantastic.
Matthew Maschler:
Yep. All right. So that is awesome. So we got another, another property under contract at the real estate finder team at Signature, uh, real estate companies. It’s sometimes, I’ll say team, but we’re not officially or legally a team that is a legal buzz worded in Florida. I think it’s a Florida rule. I don’t think it’s a national rule. Um, as far as the Florida laws that govern teams and, uh, I’m not a team leader. I mean, I’m a team leader, but I’m not officially a team leader cuz I’m the broker, Ben Checker and I are the brokers of signature real estate finder. Um, and so therefore I’m not, uh, the, the, the team rules are really, um, out there because it could be confusing to the public who is the broker when someone’s advertising that they’re a team leader. So if they’re, and if they’re advertising the, the XYZ team, and then there’s different agents under them that it kind of looks like they’re a broker, uh, and they don’t have a broker’s license.
So, um, so they, they Florida wanted to make sure that they, uh, they cleaned up, uh, the advertising rules related to teams to not confuse the public. Although I think I maybe confused some people out there because some people think, oh, real think the word broker, real estate broker real estate agent is the same. Uh, the real estate broker, uh, runs or owns the office. Uh, the, the agents work under the broker. So, um, you can get your broker’s license and still be an agent. Um, like Preston in my office, he has his broker’s license, but he is not the broker of the company. So he’s an agent, uh, like everybody else. That makes sense.
Jill Glanzer:
Yeah, that makes sense.
Matthew Maschler:
All right. So what else was going on? Um, did you see Stacy had a question about transferring warranties?
Jill Glanzer:
Um, yeah. So she wanted, her buyers wanted to, or the buyers wanted to, she
Matthew Maschler:
Represents the seller sellers. There’s new roof, new gutters mm-hmm. , and the buyers wanted the warranty transferred to them. And that seemed pretty normal to me. Yeah. I didn’t know what the question was.
Jill Glanzer:
So I’ve had, I’ve done that before. So just, you know, if you want to transfer a roof warranty, for example, depending on the roof, depending on the roof first policies, you can usually transfer. And usually they charge a fee for it. Like, I know I did a deal in Brentwood where that happened about a month ago, and the buyer had purchased a home that was completely renovated and had a brand new roof and she want, and he said, you know, if you want to transfer over the warranty to you, which would be smart because it is a brand new roof, you have to pay XX dollars. I think it was like four, I don’t even know how much it was. Maybe $400 or maybe more. And she was gladly willing to pay that. Who
Matthew Maschler:
Paid it? The seller or the buyer?
Jill Glanzer:
The buyer. I guess, you know what, that’s a negotiation because you could say, Hey, listen, you know, you could negotiate that as the buyer and say, Hey, you know, you got this new roof. I would, that would be a great thing to negotiate in the offer if you know that there’s a new roof, this is a great little thing I’m learning today. You could actually say seller agrees to transfer warranty to buyer, um, at their expense. Right. I mean, you could ask for that mm-hmm. , in this case, the buyer. This happened after the fact and the buyer paid.
Matthew Maschler:
Okay.
Jill Glanzer:
Yeah. So I think that that’s possible if there’s a warranty to transfer to the new buyer. But again, you have to check the policies of the person who originally did the work.
Matthew Maschler:
Right. Right. And usually, you know, uh, usually the sellers will leave the warranties for the different appliances or whatnot, uh, you know, on the kitchen table or arrange it real nice. I’ll come in if it’s my buyer and, and leave my, leave my closing gifts up. By the way, we have a closing Friday at Century Village. Oh, exciting. I have to get closing gifts together.
Jill Glanzer:
Oh yes, I know that
Matthew Maschler:
One, one of our new realtors Stefania. Yes. And, uh, I think she has another offer out. So she’s, she’s doing great. She
Jill Glanzer:
Is.
Matthew Maschler:
And, uh, we just hired Michelle Martinez to join the real estate Finder team.
Jill Glanzer:
Yes. She’s gonna be great.
Matthew Maschler:
Yeah, I’m gonna have to get her into the, uh, into the podcast studio. Oh yeah. Soon. I don’t usually, um, recruit from inside signature, you know, if they’re already a signature agent then, you know, I don’t really, uh, try to recruit them from my team, but she was, she wanted to get on the team, so, uh, so we made an exception for
Jill Glanzer:
Her. Yeah. She was hanging out with us a lot and,
Matthew Maschler:
Which I don’t
Jill Glanzer:
Mind. Yeah, she’s great. Yeah. So that’ll be fun.
Matthew Maschler:
Yeah. So, um, what else do we have? We have, uh, via Julia, we stuff to sell
Jill Glanzer:
That one. I’ve been working with them. Um, I have to do a new seller’s netchi cuz I’m trying to convince them on some things to lower their price. Uhhuh. Um, I discovered something interesting, um, you know, with the rising interest rates mm-hmm. for a buyer that’s looking to purchase a house right now, if it’s at six, six and a half percent, the payments are a little higher Yeah. Than they were at two and a half percent sure. Going back like six months ago. So if you have a house that’s a family house,
Matthew Maschler:
My, my dumb math right. 3% on a hundred grand is 3000 a year. So on 500,000 Right. That’s 15 grand a year. It’s 1200, 1100, 1200 a month.
Jill Glanzer:
And that’s a lot of money for a a family. Right. A working family.
Matthew Maschler:
If you thought your budget was 3,500, you’re, you know, now you’re at 4,600.
Jill Glanzer:
So this is like a great subject because if your house was priced at 6 59 mm-hmm. right back when the interest rates were two and a half percent, you were looking at a certain payment, maybe 3,300 I’m guessing mm-hmm. maybe a little more. And now it would be like 4,700 a month. Yeah. And that is a huge difference in budget. So the question is, if interest rates are high and people start lowering their prices, right.
Matthew Maschler:
If, well, if people start lowering
Jill Glanzer:
Their prices, I know they’re not, that they’re not, they’re very hesitant to lower their prices still, cuz I think they’re still excited about the old market.
Matthew Maschler:
Right. But that was the point of raising the interest rates. Yes. They did it to stop the massive appreciation of, um, of real estate prices. Yes. And, and, and other things they, they did it to stop inflation. One of the things I I truly believe is that one of the reasons that real estate prices are as high as they are, is not that the houses are worth more, even though I think they’re worth more. But put that aside, it’s that the dollar’s worth less. Mm-hmm. . So, um, so if the house is up 40% in the last year or last two years, is it that the house is worth more? Or is it that the value of the dollar has gone down? Uh, part of, you know, it’s a little bit of both, but, um, so interest rates were, were raised in order to fight that, uh, inflationary cycle.
So, so it was done on purpose, um, with a tight, uh, inventory. Um, and I still think we have tight inventory. Uh, there may still be, you know, buyers, you know, one of the, one of the issues is some of these houses that went from 400 to 600,000 is the $600,000 house. The person that can afford a $600,000 house may not wanna buy that particular house. Mm-hmm. . And, you know, if prices are higher in Boca, you can go 30 minutes west or 30 minutes north and buy a nicer house, but then that not be here. Um, and I’m sure that’s true everywhere, um, that you can find, you know, a similar house for more or less money. But I’ve been looking at it, you know, you look at GL homes with their new construction communities, um, you know, and for years they could be building five new construction communities, the same model, the exact same house on the exact same lot being five different prices depending on what, uh, what the market was in those, uh, in those neighborhoods.
So we’ve seen it before, but, um, but on the, on the low end, I think that’s one of the reasons why, um, houses have stopped is that, you know, the houses that people could afford are not the houses that they wanna live in. Mm-hmm. , uh, so a lot of people staying, uh, where they are. Mm-hmm. , um, you know, and something I haven’t talked about on the high end, on the very, very high end on the 2020 5 million house end, um, one of the things that’s affecting home sales on the high end is, uh, the lack of availability of seats in the private schools. Someone who wants to come down here and buy a 20, 25 million house, maybe move their business with a hundred employees, they find out that Pine Crest or St. Andrews in South County or in the Benjamin School in the northern part of the county, they’re full.
They’re full, they’re at complete capacity in all their grades. And, you know, for a while we were seeing someone come down with three kids and maybe they can get one or two in, in, in their first choice school and get the other in their second choice school. But now none of those schools have any seats. Donna Klein is busting at the seams. They just expanded the high school into the old JCC building. Um, very, very few seats left. So, um, it’s costing some cells on the very, very high end. And of course, all of the people that would come with, uh, with the high net worth individual, not just household employees, but actual the company employees that that might move, uh, if the company wants to move. So it’s a, it’s another, uh, negative towards, uh, towards the housing market, which, you know, it should resolve itself, um, especially as, um, as the students age up a little bit, uh, and, and start making room, uh, for new students. But that was just something interesting I heard about, uh, up when I was up on Palm Beach Island with the Palm Beach Board of Realtors.
Jill Glanzer:
Do you think they’ll build new private schools as a reaction, or not really? It’s not that easy, probably.
Matthew Maschler:
Yeah. It’s not that easy. Um, the, it’s an immense time and expense. And when you say they,
Jill Glanzer:
Who’s they? Like
Matthew Maschler:
Who’s the
Jill Glanzer:
They? Yeah. It’s private. I mean, it’s the private education market,
Matthew Maschler:
Right. And I mean, is for, for one or 10 students, I mean, a new school,
Jill Glanzer:
No, it probably, they probably could use, they could probably fill up two more schools where I would imagine, I don’t know, Boca Palm, beach Island maybe.
Matthew Maschler:
And then, and then it
Jill Glanzer:
All, all by then it would’ve already shaked out.
Matthew Maschler:
And then it’s up to, you know, you know, different economy. I mean, you’re talking about a business that’s gonna last, you know, a hundred years and subject to all different economies. When, when my kids enrolled in school, um, you know, in kindergarten and first grade, it was plenty of room mm-hmm. and all people talked about was how difficult it was going to be to get into the school. But there was plenty because the economy was, was, was down so much when, when my kids started school, there was plenty of room in the, in the private schools. Mm-hmm. , um, you know, podcasts where my kids go, there’s a, they have a little, um, they have an early, uh, cutoff usually, uh, September 1st is, is, is a cutoff, you know, maybe August, maybe later in the fall. Um, but Pine used to have a May 1st cutoff. So because my kids were summer birthdays, they’d want them to start a year younger, starting pre-k instead of kindergarten when everybody their age was starting kindergarten elsewhere.
Um, and, uh, they, they did not enforce that at all. Uh, our year, we did it voluntarily, but a lot of, um, a lot of David and Lindsay’s friends are full year younger than them, uh, from when, when, when they started. Uh, but also, um, we saw some of them, uh, that were, that were going through, um, not being able to keep up with the work mm-hmm. and, and having to transfer out. Um, since I am talking about my kids, uh, David, uh, had his homecoming football game, uh, this past weekend. And it was at AAU Stadium, 4,000, uh, people in the fans Wow. In, in this dance.
Jill Glanzer:
How magical that
Matthew Maschler:
Must have been. It was great. And, uh, and seeing him playing football as a senior with some of the kids that he’s been friends with the whole time since pre-K, it was really, really a special day. Proud Dad moment.
Jill Glanzer:
Oh yeah. I saw the pictures on Facebook. They look
Matthew Maschler:
Great. Yeah. Yeah. So, and then he got to, uh, go to the pep rally for the, for the lower school in Boca. Um, so all the first and second and third graders got to look at
Jill Glanzer:
Cheer for him, and he’s like
Matthew Maschler:
In his, in his in full gear, looking like a superhero.
Jill Glanzer:
That’s amazing. And he’s really looked, looked forward to that from the beginning
Matthew Maschler:
When he was in first and second grade. He remembers how excited he was meeting the football players, and it’s kind of what made him wanna play football. Aha. I think he took to football the way I took to superheroes and comic books, and especially now with all the colors of the uniforms and then the video games like Madden and stuff, like in such detail. And these, and these players, you know, just like, I mean, I’d have to use my imagination for like Dungeons and Dragons, but all of these players, they, they each have their own superpower. Um, and then, but codifying it into a game like Matt and, you know, with, with measures of strength and endurance, um, how, how father they can throw, it’s all the same characteristics of, uh, superheroes and dungeon and Dragons and all the other games that, that I used to play.
Uh, but, but he’s applying it more, more towards football. So I think that’s, I think, I think that took a lot of, uh, that audience much easier to watch football on TV nowadays with, uh, all the graphics and line scrimmage and stuff. We went to the Dolphins game, dolphins Steelers game. It was great. Uh, there were so many Steelers fans in the parking lot walking up to the stadium. And I just said to David, I’m like, I just hope we win. So that on the way out back to the parking lot, it’s not gonna suck . So thank you. If you’re from Pittsburgh, thank you for coming down. Florida is a very warm, welcoming, hospitable, um, state. So we, we, we encourage you to come down, make a weekend of it, stay in our hotels, enjoy our beaches, enjoy our restaurants, come see your favorite team, and then go home.
Jill Glanzer:
Absolutely.
Matthew Maschler:
But if you wanna stay, you know who to call
Jill Glanzer:
. Yes. Buy a house from us or second home,
Matthew Maschler:
And then you can continue to watch dolphins and heat games and, and, uh, but and continue to root for your favorite team. We’ll even, uh, give you some advice on, uh, sports bars that, that cater to, uh, your local team. Obviously we don’t have all of them, but, uh, but there’s a lot of, you know, there’s, you know, there’s the, the, there’s always that one bar where Detroit Lions fans will come and congregate, or worst Steelers fans or Giants. A lot of Giants
Jill Glanzer:
Fans. Is there a website for that where you can, I dunno, that would be cool. I don’t know. I’m sure there is somewhere
Matthew Maschler:
. I don’t, I don’t think it’s a, a website. So you,
Jill Glanzer:
It’s just something you gotta know.
Matthew Maschler:
You gotta, you gotta know, so we’ll help you find it.
Jill Glanzer:
Absolutely.
Matthew Maschler:
That’s why we’re called Real Estate Finder
Jill Glanzer:
, we find more than just real estate. ,
Matthew Maschler:
, . I know there was something else I wanted to ask about, uh, that I was talking about for today’s show. Um, open houses.
Jill Glanzer:
Open houses, yeah. We could talk about open houses.
Matthew Maschler:
Um, we had a nice open house over the weekend. Um, you know, I like open houses because it’s just, it helps me advertise. Uh, recently we, you know, sometimes we have, um, advertisements in the, uh, in the, in the newspaper. And by, instead of just saying house for sale, if you say open house, it gives somebody something to do, a reason to call, a reason to. It just takes that barrier to, to, to showing, uh, down. I just think it’s to make, I, I want to sell my properties that, that are listed with me. So if I could take down barriers, if someone’s just thinking and they scroll through a bunch of listings and they see, ooh, this one’s open, uh, maybe, maybe they’ll, maybe they’re more likely to come. Um, if I have a vacant house, I might schedule it, you know, every Tuesday for an hour to be open that way.
Um, all the different websites that we syndicate to, uh, they focus and highlight, uh, that listing. Uh, there’s a lot of things I do. Someone, uh, one of my, uh, friends or, or or vendors, uh, down in Miami sent me a listing. He said, Hey, this house is in my neighborhood if you know anyone, uh, that wants to move to Miami. And I had to ask him. I’m like, you’re not the seller. Are you friends? Are you friends with the owner? Are you friends with the real estate agent? No, no. Just to walk by the house every day and saw the for sale sign. And, uh, and I looked at the listing and I saw a lot of reasons why, maybe not, not reasons why the house isn’t selling, but like, bad things, like things, I, I could, I would, could and would do better.
I don’t usually like to say that to someone if, if it’s like, if it’s their friend’s house, I don’t wanna tell them that their agent is doing a bad job. But, um, so I call the guy, I go, listen, you know, I’m just, I’m just looking at the listing and, you know, if, if someone came to me and said, Hey, Matt, my previous agent couldn’t sell this, could you sell this for me? You know, there’s five things I see immediately that I, that I would change. Um, first off, uh, the entire description was in all caps, right? So, you know, as a salesman, I need to sell in any platform that the person is, if I can talk to them, I’ll talk to them. If I can text them, I’ll text them. If they’re reading the MLS description, I need to use words to craft a story.
I can’t just throw facts in a line. Uh, that’s something that, that Jill’s very good at, uh, crafting words to tell a story in the description. Um, and when you’re trying to engage, uh, an audience, they’re not reading all caps. It’s, it’s difficult to read. It’s not the way we communicate in the English language. So immediately, even if someone, someone’s not gonna say, oh, this is all caps, I’m gonna not see the house, but you, you lose the audience that they, they may not be reading it. And, and then they’re not hooked. You wanna hook people. So you want to use words to hug people. Um, the photographs, uh, it’s, uh, in the photographs and in the listing description, it said that there will be a pool completed in August of 22. Um, okay, well, it’s the middle of October. You, you can’t say that you will do this thing in August of 22 if the pool’s completed.
Put in the pictures of the pool and say brand new pool. Yeah. Change the words. You know, all you did when you said pool will be completed in August 22, you may, all you did was make me wonder how long is this has been listed for? Yeah. Because this is like already three months ago. Like pool, this will be done in August. I mean, I’m not calling you a liar, I just know I can’t trust you. Right? So the trust and rapport with the other agent, broken toast. Right? I want pe people have to trust me. My customers have to trust me. The other agents that I, that I work with have to trust me. And if I tell them that the pool will be completed in August of 22 and it’s three months later, they’re not gonna trust me. If the pool’s not completed, revise it.
Pool will be completed in February 23. Give me something to look forward to. That would be great if the pool’s completed, put in the pictures of the pool. Don’t put the artist renderings and, and say, and say redone. So, um, the showing instructions were pretty bad there. There was just a lot of bad things on that listing that, you know, just needed to be cleaned up. Um, you know, in the last two years when houses sold very, very quickly, a lot of people took shortcuts. Right? You know, we know the house and the short, there was new things I had to do, right? There was a lot I had to do differently because I knew once I listed it, I was gonna have all my showings and then I was gonna have all my offers call for high. So there’s a whole bunch of new work that was created.
And so some of the old work didn’t need to be done anymore. It just changed. Um, but you have to go back to your basics and, you know, you have to care for your listings. You can’t just list a property and just let it just sit there for 180 days and not do anything. You gotta change the pictures around, change the description around, um, look at it once a week. Right? And that’s what I wanna do with that, with, with that townhouse that we have. Yeah, absolutely. Cause I have ideas also. We have a, a rental, um, in Boca Oh yeah. Walking distance to a synagogue that I have some ideas for that I, I’d like to sit down with you, uh, this week and, and discuss marketing on, on both of those, uh, listings because, uh, anyway, um, they have to be nurtured. Uh, they have to be cared for.
They have have to be advertised. And, uh, they can’t just be ignored. And that’s what happened. If you went, walked up to the house and you saw the grass was overgrown and the roof was dirty, and the house was just neglected, you would not have a positive image on that house. And that’s what this listing was. It, it was a neglected listing that needed some love. And, and that’s what I, that’s what I told my friend. Uh, they were offering 2% to a buyer’s agent. Um, which again, when, when offers were coming through the door, um, people were, uh, people were doing, and, and I said to ’em, I go, if I can sell a property, if I have a buyer for your property in Miami, I could sell them anything. Why would I or should I, what is so special about this house? Right?
If he was offering 3% and a bonus, yeah. Now I’m hungry, I’m enticed to find a buyer for this house, but there was no reason for me to go out and find a buyer for that house. Now, I’m not saying that I’m not gonna show the house because it was 2%. That’s not what I’m saying. Right. You know, if I had a buyer and this house fit their criteria, I would show it. You know, part of the, there’s a couple of lawsuits against the, uh, realtor association, and one is for, um, you know, agents not showing because of low listings. I’m not saying I’m not gonna show your house if you’re on, if you’re only offering X, y, Z in commission. What I’m saying is, I am not going to actively work for you and find you a buyer for your house. You tell me you’ll give me three or 4% commission and make it e and and encourage me this tool on the MLS where you can, you know, uh, authorize other agents to advertise your house.
You tell me if you have a great house and you incentivize me to advertise it for you, I will. I’ll run Facebook ads, I’ll put rub classified ads, I’ll put it in homes and land, even though it’s not my listing. So I’ll go outta my way to find you a buyer. Right? But other than that, right? I ha my listings, I have to find buyers for my buyers. I have to find houses for, I don’t have to do your job for you. And if you give me a reason to, I will make it easy to work with you. I will. But for this guy, this particular house, neglected listing, offering 2%, Hey, thank you for telling me about your neighbor’s house. But there’s nothing special about it. And there’s no reason I’m gonna even think about trying to find you a buyer. I’m not gonna call up a any, you know, Hey, hey, buyer, I know that you we’re looking for houses in Broken Delray.
What do you think about this house in, uh, in Miami? Um, it, it, it doesn’t add up. So, um, so these are all the types of things that we have to think about. Uh, if you’re listening, if you have any questions about it, if there’s something I didn’t explain correctly, if you’re, you know, a customer, just a homeowner, if you’re a renter, uh, want to become a homeowner one day, you wanna become a real estate agent, you are a real estate agent, whatever, um, capacity, you’re out there, uh, listening, feel free to, uh, email or, uh, call, uh, would love to, uh, address any of your questions on the air.
Jill Glanzer:
Yes, that would be great.
Matthew Maschler:
So what else is up with you, Jill? What, what are you working on next?
Jill Glanzer:
So, what else is up with me? I am, um, working on that closing that’s happening in November. Uhhuh. Um, I do have a listing that’s possibly coming up in Coral Springs. Oh, yeah. Yes. I’ve been waiting for it for quite some time. They’re under construction. I mean, it’s, it’s being renovated and I tried to convince them. I wanted to get your thoughts on this actually. Mm-hmm. , it’s under renovation right now. And I told them, why don’t we just list it, right? Mm-hmm. , let’s just list it. Tell me what you’re gonna do and I can, you know, explain that vision to a buyer possibly. Mm-hmm. , you know, if you’re already doing the work, right? There was some insurance claims and then they, now they’re in the middle of renovating it, but it’s, I’m a little bit concerned that they’re gonna miss a window, right? Mm-hmm. . So what are your thoughts on listing a property that’s being renovated that’s not quite done yet. It’s sort of unconventional. Normally we’d want it to be completely done and ready to look at and staged mm-hmm. . But if, if your customer may miss a window and they’re definitely going to sell, do you think that that’s a viable option?
Matthew Maschler:
I like it. Yeah. You know, it doesn’t always work. We’ve tried it a bunch of times. Remember that the one house Lighthouse point customers, imaginations, you know, they, you know, HGTV is good. Done a pretty good job convincing them that things have to be moved in. Perfect. Perfect. But you never know. I mean, you’re not, you’re definitely not gonna find a buyer if you don’t do it. Correct. And there’s no harm or risk in doing it, you know, your risk stays on market possibly, but, but it’s not, I don’t think that’s a big a deal. So I would, I would show it, um, I would list how, um, how long until they can get it, uh, until they’re ready.
Jill Glanzer:
Well, it was, it’s funny because I listed, I actually got a listing agreement signed in July, and, and there was a stipulation in there that said, you know, when renovation is complete, we will take pictures and immediately list it on the MLS and the, the, the seller’s having a bit of an issue getting it renovated with vendors and things like that. So it’s sort of just been sitting and I haven’t really been able to talk to her. So
Matthew Maschler:
Why, why are they renovating it?
Jill Glanzer:
They’re renovating it because it needed a lot of work. There was some flooding issue and they got the, um, money from, they, they’re remediating it. Mm-hmm. , they got some money from the insurance company, Uhhuh, and they had all these renovations in mind. I tried to convince them to I to just do the insurance stuff,
Matthew Maschler:
You know,
Jill Glanzer:
And just sell it the way it is and let the other person do what they want with the kitchen, with all of the pretty stuff, the cosmetic stuff. But they just were very resistant to it.
Matthew Maschler:
Right. You know, it depends on the, on the, on the insurance policy. Sometimes you can just get paid out on the insurance policy. Yeah. But sometimes you have to do the work. Yeah. But if you could get paid out on the insurance company and then sell the house as is there, there may be more, more money to be made that way. Yeah. Than having to go through the work. I mean, I, I personally do not recommend people to spend a lot of money renovating a house in order to get it ready for the market.
Jill Glanzer:
I told her that,
Matthew Maschler:
Um, I saw one of my agents the other day, um, you know, suggests to their seller, um, all, all these renovations to get it ready for the market. And I was like, why would you suggest that? But if the house is worth X and the renovation costs y and you have to be able to sell it for a lot more, then x plus y in order for it to be worth it. Exactly. Right. If the house is worth 500,000 and you’re gonna do 150,000 worth of renovations, now you’re into it for six 50 if you’re gonna sell it for between 600 and 700 anyway. Right. Well, you started at 500. If you could get five 80 for it and let the buyer do the work, you’re just much better off. Plus you didn’t do do as much work.
Jill Glanzer:
No. And it’s a bit like pulling a thread. I just show, this reminds me of a showing I had a couple weeks ago of a house like that where I asked the agent, oh, did they do this work for themselves? She’s like, no, they did it to get it ready for the market. And I’m looking at it like, okay, it looks perfect and beautiful downstairs, except for like, there’s a brass doorknob. Mm-hmm. where there should have been a silver one. And then when you walk upstairs, there’s like, you know, there was this beautiful white porcelain tile down, and then upstairs it was like this old wood, and it wasn’t like, pretty old wood. It was sort of like scratched up and it looked like two different houses. Two
Matthew Maschler:
Different, I I was gonna tell you two different house. Have I seen
Jill Glanzer:
This house? No. I don’t know if you have. It’s like you just did all this work, two quote unquote get it ready for market. And it’s literally like, there are things that you didn’t do right? Like you didn’t put the coverings on the electrical panels. Cause when you redo a house, you have to be very careful. Mm-hmm. , once you start redoing some things, you almost have to do it all. If you
Matthew Maschler:
Don’t, I went into a house, and this was before the covid market, but beautiful, beautiful house, um, in central Boca. And, and he walked in and it was fully renovated. The foyer, the living room, the common areas were beautiful, but then the private areas, the master bedroom and the other bedrooms were not redone. And so not just the flooring, but also the trim, like crown molding type of type of trim. And the doors in the, the rooms that were redone had modern doors with modern, uh, hardware. And the non redone rooms had older doors with older hardware, with different colors. And I, I felt like I walked into a different house from, you know, when I went into the master bedroom, I, I felt transformed into a different house looking at the bathrooms and the very heavy traditional Mediterranean master bedroom, master closets, master bathroom back into the main house, updated transitional, modern light and area.
And then upstairs into the, into the, into the residential area, again, transformed back into Mediterranean and then back into the, the main areas. And I’m like, this is a, this is weird. I just felt transformed when I redid my house in 2016. Uh, after that one, I had seen a house that was completely remodeled except for the floors. So it had brand new kitchen with brand new cabinets and brand new marble, but that, that Mediterranean floor. And I was like, and I was about to redo my house, and I wasn’t gonna do the floors. And I’m like, all right. Doing the floors. Absolutely. And I had to do everything. I had to move out and I had to do everything because I knew it was gonna come out bad.
Jill Glanzer:
It’s literally my biggest pet peeve. If you walk into a house, it has the most magnificent kitchen mm-hmm. , and the floors don’t match the kitchen. Mm-hmm. and every bedroom door is still brown. And then there’s this super modern kitchen. Like, it’s just bizarre.
Matthew Maschler:
It’s, it’s, it’s like living in a, you know, in a two bedroom townhouse and having a Ferrari in the garage.
Jill Glanzer:
Correct. ,
Matthew Maschler:
There’s something off.
Jill Glanzer:
Yeah. If you’re gonna redo it and keep some things, then make it match the other things. Yeah. That could be hard, but it could be a challenge, but really it would just serve you so much better.
Matthew Maschler:
It would. I, I saw another house that reminded me of that where, um, they did an extension and it was just, it was just disjointed between the extent between the original house and the, and the, and the extension. So
Jill Glanzer:
It was like entering a different time zone.
Matthew Maschler:
So again, unless you’ve done it before, unless you know how to do renovations, um, it is sometimes easier to just clean the house. Maybe a fresh coat of paint. Mm-hmm. . But, um, sometimes it’s just easier to clean the house. We’ll come in, we’ll give you our best, best advice. But again, if, if you’re not gonna make a multiple of money on that investment, why go through the time, energy, and effort, uh, to get, to get the house ready, uh, to, to, to sell. If you’re not, you know, if, if you’re an investor, you’re buying houses at foreclosure, fix it up, make it, make it nice, fix up the landscape, flip the house and you’re gonna make your money. Hey, that, that’s great. But if you’re just, if you’re just living a house that’s dated, um, there’s no reason to renovate to get it ready to market renovate if you wanna live there.
Yeah. Right. If you’re trying to decide between selling it and moving somewhere else, or living there. I mean, that’s what I did in 2016. I looked at other houses, I looked at other options before I decided to renovate it. I’ve had, I don’t know if you call ’em customers. I’ve had customers that I’ve consulted with. We did a listing presentation, what they can get for their house. We did a search of what to, um, what what they can find. And they’ve ultimately decided to stay in their house. Um, and I’m happy to do that. If, if you’re out there, if you’re listening to my podcast or you see, you see my marketing, you know me, call me, call one of my agents, let’s get through your house. And if, if you decide to stay in your house after we meet, that is 100% fantastic. I, you know, there’s no obligation. I love when people are happy in their home. I want you to be happy in your home. That’s why I do my job. That’s where I get job satisfaction. So if it turns out that you’re gonna be happiest where you are and you, but you need to go through the process to figure that out, please, please, please let us know.
Jill Glanzer:
Yes, definitely.
Matthew Maschler:
And and you say that going, going at the beginning Right. To manage everyone’s expectations and, and, and, and it will work out fine, I promise. All right. Another big announcement I have is we’re buying a moving truck. This signature real estate finder moving truck. Uh, I always see the ad in the realtor’s magazine. Um, and, and you know, the truck says, you know, buy or sell with us and move, use this truck for free. So I like free, but it’s not costing me free. It’s costing me money, buying the truck, painting it up. Gonna be the signature, uh, real estate finder moving truck. Gonna drive it around town. I don’t know what we’re gonna do with it. I dunno where we’re gonna keep it.
Jill Glanzer:
We’ll figure it out. We’ll figure it out. Yeah, we will.
Matthew Maschler:
I might have to call, uh, my friend Mar Marshall at Mazda store.
Jill Glanzer:
Yeah. Or maybe we’ll just keep moving people and we’ll never have to store it. It’ll just go from one, one move to the
Matthew Maschler:
Next. Gotta put somewhere at night though.
Jill Glanzer:
True. True. And the ho, if you don’t know this HOAs is down here, you can’t really just park it in your driveway if you’re in an HOA community because it’s a commercial truck. So you have to figure out a place. But yeah, I think you might have to do the storage thing.
Matthew Maschler:
I wonder if I could put it in the backyard.
Jill Glanzer:
In the backyard. . I think there’s probably a rule against that. It would be a good advertisement because you’re on a golf course.
Matthew Maschler:
Not my backyard.
Jill Glanzer:
Yeah. . Yeah. Your go your backyard. No, but, you know, but it would be a nice advertisement for a day and it would get everybody talking about you. Could you imagine? I
Matthew Maschler:
Cannot wait to,
Jill Glanzer:
Could you imagine it on next door? Woodfield?
Matthew Maschler:
?
Jill Glanzer:
I can’t believe it. There was a, there was a moving truck at someone’s backyard and I saw it while it was golfing.
Matthew Maschler:
. Alrighty. Um, okay, so we have to get back to work. Um, we have some houses to advertise. We, oh, we have a new listing coming up in Lotus.
Jill Glanzer:
We have a new listing coming up in Lotus. Yes. A couple weeks. Yeah. November. I’m supposed to talk to him. November 15th.
Matthew Maschler:
November 15th. Be on the lookout Thanksgiving special. You can, uh, shop Thanksgiving and be in your new home for Christmas. Yes. How great would that be?
Jill Glanzer:
That would be amazing.
Matthew Maschler:
Also, if you’re thinking about the new Lotus community. Lotus Palm in Bo Raton on Glades Road, Jill is an absolute expert on the process. The, there’s a lottery to have the right to buy a house in Lotus Palm. So if anyone’s interested in Lotus Palm in Boca, uh, you can reach out to Jill.
Jill Glanzer:
Yes. That is gonna be a beautiful community. Yeah.
Matthew Maschler:
And you can use our truck to
Jill Glanzer:
Move. Oh yeah. Might take a few trips.
Matthew Maschler:
That is fine. All right. So thank you for joining us on the Signature Real Estate Finder podcast. I’m Matthew ler, real estate broker with the signature real estate companies with offices throughout Florida.
Jill Glanzer:
And I’m Jill Glaser with Signature Real Estate Finder. And if you need to reach me, you can email me at jill real estate finder.com.
Speaker 3:
The future looks bright and the storms pass by the sky’s dark blue. And it’s almost that time. Light shows cameras flash when I pass. Living in the moment. Forget about the past. They save the best for last. Matthew Mania. We about to make a splash. Life is a marathon full of sharp turns, gotta keep pace while the hands on the High Five Star. I run a show, you can tell the boss plate electricity energy. I’m on. I make dreams. Come life clear.
Speaker 4:
Know. Know, it’s, you know what? You know what is, you know what, you know what? You know what is, you know what, you know what? You know what is, you know what Know what Know.
Speaker 3:
You know what it is. You know’s time. Its, you know what time Its mania. The time it says, you know what time its, you know who Time its, you know what time. Its Shook. Can’t look. We’re not afraid of Big Walk. Comes.