Matthew Maschler:
Welcome to the Real Estate Finder podcast. I’m Matthew Maschler, real estate broker with a signature real estate companies in the state of Florida, team leader and broker at Signature Real Estate Finder, real estate finder.com. And with me, the co-host of the Real Estate Finder podcast, Stacey Garcia and my real estate partner for over 100 years.
Jill Glanzer:
Jill Glanzer. Hi
Matthew Maschler:
Jill. How are
Jill Glanzer:
You? I’m great. How are you doing?
Matthew Maschler:
Good. You know, 100 years ago when Jill, uh, started with me, uh, she had a, a, a son. So she started, uh, part-time. We were just gonna wait for him to, uh, grow up and go to school. So for some reason he hasn’t time has frozen. She’s been working with me for 10, 50, a hundred years and, and
Staci Garcia:
He’s
Matthew Maschler:
Still six and he’s, she’s still, he’s, I dunno, she’s still leaving to go pick him up at school. I
Jill Glanzer:
Still pick him up at school at the
Matthew Maschler:
Same time. I don’t, my kids have like went from like babies to driving to the flying a college and
Staci Garcia:
My sons are flying planes. They’re
Matthew Maschler:
Flying
Jill Glanzer:
Planes, <laugh> and mine just stays the
Matthew Maschler:
Same age. He, he’s the same age and in aftercare he gets taller <laugh>, but he’s still in aftercare. So yes, Jill and I have worked together for a long time, Stacy, and Ive known each other and been friends and, and now we work for each other, uh, for a long time. And, um, everybody was very, very, very busy the last couple of days, huh. Yep. So, uh, Stacy, I wanted to talk to you about something that I saw yesterday. I was at the, uh, helping Israel golf tournament yesterday, so I couldn’t really respond, but you were out with a customer Yep. That wanted to, uh, make an offer. Yeah.
Staci Garcia:
On an apartment. We had, um, we had seven, uh, showings scheduled, Uhhuh <affirmative>, and on the f uh, let’s see, on, on the third showing they wanted to make the offer, but still see the rest of the showings.
Matthew Maschler:
Okay. Yeah. You know, it’s funny that sometimes when, um, when you have a lot of showing scheduled and, and you tell your customer, oh, come, come on, we gotta go. Cause we have another showing schedule, but sometimes the customer is actually like liking the house that they see and they wanna buy it mm-hmm. <affirmative> and sometimes the realtor forgets that that’s the goal.
Staci Garcia:
I was totally cool with that. Yeah. Yeah. And they were like, can you multitask? I was like, I have a team. So, you know, if you’re, if you’re thinking about joining a team, one of the benefits is I can have a team member write an offer while I’m still showing the rest. And she’s like, the only reason I really want, I want that unit. But the only reason I do wanna see the rest of them is what if we don’t get it multiple offer situation?
Matthew Maschler:
Right? You’re already here, what if you don’t get it? Mm-hmm. <affirmative>, what if you do see something you like better? So Yeah. You know, start making the offers you don’t want, you still want to see those others, but it’s, but that was their direction to say, you know, let’s continue to see ’em. It wasn’t the realtor saying, yeah, okay, well come on, we’re on schedule.
Staci Garcia:
No, I asked, I’m like, do you want me to cancel the, I mean, I, we had like 15 minutes before the next one. I said, do you want me to cancel? They said, no, we actually we’re kind of worried that we might not get it.
Jill Glanzer:
Right. Yeah. I think that was a great customer. Mm-hmm.
Matthew Maschler:
<affirmative>. So, so I was reading the, the back and forth with, with, with the text and, and they wanted to offer, uh, make the offer furnished. Yes. Um, did, did the listing safe, it was available furnished? Yes. Alright. So there was some back and forth about, you know, you know, uh, builts and suspenders, really making sure that we did a full inventory list. Right. And had I been able to jump into the conversation, what I would’ve said was, make the offer. Yeah. Because it’s just a first offer mm-hmm. <affirmative>. Right. That may or may not even get accepted. Right. You know, sometimes you’re trying to make the best offer possible and you wanna make it clean. And my goal is always to get the seller to sign it. Right. I wanna make sure there’s nothing outstanding that the seller, you know, my goal when I submit the offer is that the seller sign it Yeah. And accept it. And now we have a contract. Right. So you definitely wanna write the offer so that it can be accepted mm-hmm. <affirmative>, but since you were short on time, um, you know, I would’ve been, I would’ve said it would be totally okay to just say furnished. Um, and either include whatever was important. Yeah. Uh, and, you know, by naming the contract or exclude whatever you thought was an exclusion, the
Staci Garcia:
On the contract, the listing agent said that the owners of the unit are gonna keep some personal items and we didn’t know what they were gonna be. Right. And this, this unit was furnished. Right. It was perfect. Right. So I wanted to write something like furnish
Matthew Maschler:
Actual MS fully furnished as, as on the day of showing and, and as displayed in the multiple listing service seller may remove, uh, personal items, um, you know, as reque as as request
Jill Glanzer:
Prior to closing Yeah. As requested prior to closing or to be, or you could say something like personal items to be discussed by
Matthew Maschler:
Blank. I, I wouldn’t say to be discussed because it’s too much. I wouldn’t, I wouldn’t leave leave that open. I wouldn’t make it cuz it wouldn’t, I don’t wanna make it a contractual term that things will be discussed. Okay. Because if it was discussed, it’s to be negotiated and it’s not enforceable. Mm-hmm. <affirmative> so seller. So, and I would’ve been very Okay. Writing that Yeah. And submitting that. And then if the seller accepted it, great. If you opened up negotiations Yeah. And then the seller came back to you at a different price and there was some back and forth and then there was some confusion about what’s included when it’s not included, that’s when I would’ve said, okay, stop and make the full inventory list. Oh yeah. In real time as you are showing there was no time for you or your customers mm-hmm. <affirmative> to make the full inventory list.
Jill Glanzer:
No, absolutely not.
Matthew Maschler:
And no, and I, I would hate the fact that the sitting down to make the full inventory list would delay Yeah. What you were trying to do in your goals that day.
Staci Garcia:
Absolutely. Cuz we, we were told, um, the people that we were actually three units in the same building. We went to see the first one mm-hmm. <affirmative>, and then as soon as we were done, there were people at the door. We went to see the second one, and as soon as we were done, the same people were at the door. Right. They were following us. Right. So we knew that there was another group
Matthew Maschler:
Scene in 2021, in the beginning of 2022, speed was much more important than accuracy. Mm-hmm. <affirmative>, you know, I was, I was with my father yesterday too, and he was talking about how, you know, all these offers with no inspections and no, this and no that, no contingencies were, were the norm for a little while. So yesterday in, you know, in what you were trying to accomplish as far as get the offer written and submitted, and then later if there is tension or struggle, because we did talk about this on an episode or two a few weeks ago, best practice with furniture. Right. And, and on a different deal that was very contentious, very confusing buyer and seller did not have the proper meeting of the mines. That’s when I said, stop, make the full inventory list. Right. And that way there’s no confusion
Staci Garcia:
On this offer that I wrote, that we wrote yesterday since I knew by the listing agent said that the people that came behind us, it was their second showing and they were making an offer. He said, pr you know, um, give us the highest and best. And I was like, okay. And then I told my clients, I’m like, let’s get a little creative with the offer. So it’s similar to what we talked about right. In the podcast is it’s not always about price. We went over ask, but it wasn’t just about that. It was, we offered to choose and pay for it title, and we made our, um, inspection period, five days. We kept everything tight, cash offer. And, um, I felt like anything else I could offer. Right. You know, so I wrote that in, in the email. The only thing I didn’t do because of time was I didn’t add all the addendums. And I, I was wondering like, did I need to, it was six o’clock mm-hmm. <affirmative>, we’d seen seven places and I was exhausted, but I was like, okay, if I need to fill out all the addendums and the hoa, the coa,
Matthew Maschler:
So some addendums mm-hmm. <affirmative> like homeowners association and condo are essential. Right. Uh, so you don’t have an executed contract until those are executed. Um, so, uh, be because those contracts are, are those addendums are referenced in the contract. Right. So if the home’s in an HOA or in a condo community, you need those addendums. Now, again, for sake of speed mm-hmm. <affirmative> and submitting the first offer you could submit, now you’re in negotiation, now you’re ahead of the people that were behind you. Now you’re back and forth on price, and then that buys you the time to go back and make the other addendums that you need. Right. Um, but it, but if, but if you’re racing against the clock, submit the offer and then go back and do the addendums if they’re gonna accept a different offer anyway, or if they’re, um, gonna counter your offer anyway. Um, and if they sign it mm-hmm. <affirmative>, you know, great. And then come out with the addend, then you do the addendums. So the some addendums are, are essential to the contract. So you don’t actually have an executed contract. Right. Until they’re
Staci Garcia:
Signed. Well, I sent him an email last night when I submitted my offer and I wanted to get in by six. Mm-hmm. <affirmative>, I was really like, right. Hard settled, let me get this to him before the end of the day, um, in my world. And then, um, with my email, I said, um, I can add the addendums, you know, uh, just, I just wanted to get you the offer. Right. If you want to change anything or do anything, or you have a question, feel free to call me. But I’m working on the addendums. Right. I just wanted get you the offer right now.
Matthew Maschler:
Right. So the inventory list, you know, it’s a tool and you know, know, so the knowledge that we have are tools. You don’t wanna let your knowledge interfere and prevent you from doing action. Right. And that, you know, and you want to know the tools. Right. You know, when you’re a good repairman, you have all the different tools for all the different tasks. When you only have a hammer, every problem is a nail. Mm-hmm. <affirmative>. So you have to make sure that you’re not, you know, sometimes you just have to see the forest for the trees. Right. Sometimes you have to make sure you’re getting things out of your way. So, you know, as much as we stressed that inventory list on your last deal Yeah. It, on this deal, not as important, especially on the first offer. Especially when you’re racing against
Staci Garcia:
Time. Yeah. One of my questions was who’s gonna make the inventory list? Cuz I don’t know what was considered personal items.
Matthew Maschler:
Right. You
Staci Garcia:
Know?
Jill Glanzer:
Right. And you could do that during the inspection period too. Once the inspection period’s over, kind of like, they know that they wanna move forward, then you go through and you make the
Matthew Maschler:
A a lot of it has to do with who you’re trying to protect mm-hmm. <affirmative>. And, you know, if you’re trying to protect the seller and the seller wants certain things mm-hmm. <affirmative>, then it’s on the seller. That’s
Staci Garcia:
What to make. That’s what I assumed. And so he said that his buyer, his seller was currently making the list. Right.
Matthew Maschler:
So I was like, cool. Right, right. So it’s, it’s who, who are you trying to protect? If you, if your buyer wants the deal to be contingent on the dining room, the bedroom, da da da da, duh, then, then you’re protecting the buyer by, by, by doing the inventory list. But if you’re the buyer, you, you don’t have to go out of your way to, uh, protect the seller. Right. So a lot of it, you know, a lot of it just comes from natural from the deal. So you have two deals back to back. One where it was very, very important to make the inventory list because people on both sides of the deal, uh, were not clear. Yeah. And you were just trying to protect everyone in case anyone there could be no backlash on this one buyer was, would be satisfied with the majority, the bulk of the, of the furniture. And that the seller took a particular chair or a particular of this, or a particular that it really didn’t
Staci Garcia:
Matter. Yeah. In, in this, in this scenario, uh, the furniture was worth a lot of money. Hmm. So it gave them reason to go over asking price. Right. It was really decorated and, and just, you could tell it’s top notch mm-hmm. <affirmative>. And in the other one where the furniture was complicated, it wasn’t worth money. So I was like, why are they arguing over this? You
Matthew Maschler:
Know, people, people sometimes just argue to win and not over over.
Staci Garcia:
That’s true. I do think that it was definitely a argu to win situation with the other one.
Jill Glanzer:
I once represented a buyer and a seller in a transaction, a a purchase of a home, a fi in a 55 plus community. And the buyer wanted a documented list of every single vase, Ugh, Meza, <laugh>, you know, picture. And if like, he wanted to keep a picture and it was personal to him, like there was an argument and I had to go there and take pictures of every single item to make it clear to the buyer what they were getting to pr also protect the seller. Mm-hmm. <affirmative>, it was so much work. And that sometimes it is like that.
Matthew Maschler:
I remember that one. That was was what the one where the owner had passed and we were dealing with the son.
Jill Glanzer:
No, that was a different one. This was the guy, the Yes, you’re right. <laugh> was, it was the owner. Yes. It was the owner of pass. I
Matthew Maschler:
Didn’t say, I didn’t say the three children. I
Jill Glanzer:
Said the son didn’t. And I didn’t wait the three minutes.
Matthew Maschler:
I have a three minute rule at at work that if someone thinks I’m wrong, they have to wait three minutes before they tell me because they actually have to think
Jill Glanzer:
About it. It was in Indian Springs. Indian Springs, yeah. Yep. Yep. And, and another thing, going back to making an offer quickly during a time where you have to, because there’s other competition, please fill out the entire offer. I don’t, the addendum’s not as important. Right. I just got a rental offer and they didn’t even fill out the name of the owners. They sent me the offer, like it was complete and I didn’t have a chance to look at it right away. And I’m looking at it and all these things are left out. Like I submitted your off an offer to you, Jill. Uh, you didn’t include the owner’s name. And literally here in Florida, it’s easy to find the owner’s
Matthew Maschler:
Name. But you know, it’s funny though, is it? Yes, in Florida it’s easy to find the owner’s name, but the buyer has to do some detect the buyer’s has to do detective work to figure out who the, who the owner is because it’s not, you know, there’s a, there’s a line in the MLS that says owner’s name. And what you’re supposed to do on that line is put in who? The seller, what letters, what words, what syllables. When I draft a contract and I go to the seller’s name, I go to the mls, I go to the owner’s name and I’m going to copy what you put in the MLS owner’s name. I don’t, there, I’m gonna copy and I’m gonna make that the seller. You say you don’t look there. Never. I look there because that’s what I’m supposed to do. It’s the multiple listing service owner’s name tells me who the seller is. And when I write contracts and I, I don’t write contracts. Right. Stacey, Joe, right. Gretchen. We’ll read ’em for me. But I, when I would write my own contracts, I would put whatever they put in withheld. Withheld. I felt withheld. I would put withheld. I
Jill Glanzer:
Did everybody. Why does every, you know, I debate all the time. Like, should I just put the owner’s name? Why is everybody put withheld?
Matthew Maschler:
They put withheld or they put N slash a
Jill Glanzer:
I put asper ass
Matthew Maschler:
As forever.
Jill Glanzer:
Just put the name. I’m sorry, as per,
Matthew Maschler:
Uh, problem.
Jill Glanzer:
Shouldn’t we just write the name then? At that point? Like, it is the right thing to do to write the actual name
Matthew Maschler:
As you want. It described on the contract where it says the word seller. So if it’s a trust or an estate, a estate of Lily Smith, whatever, as the listing agent, whatever I want the seller’s name to the contract named in the contract to be is what I should put in there as owner’s name. So yeah, I put withheld to announce, submit the firm. Uh, don’t make me
Jill Glanzer:
Why are so many people, why does everybody, including me, put withheld <laugh>? I put withheld too, but I do sometimes put it in the, in the notes for
Matthew Maschler:
Broker notes. They don’t, they think that somehow the other agents are gonna try to steal their client.
Jill Glanzer:
I don’t
Matthew Maschler:
Think that you’ll, wait a minute, you are gonna give me the address. You’re gonna gimme all the photographs and you’ll give me the key and I can go in and I can go into their house. But you’re not gonna tell me who owns it.
Jill Glanzer:
I do
Staci Garcia:
It for a car for privacy. I thought it was for
Jill Glanzer:
Privacy. And there is no privacy in Florida the last time I checked.
Matthew Maschler:
So <laugh>. So I would, I would encourage you to put the, the name of the seller as you would like it to appear on the contract in the MLS under owner’s name.
Staci Garcia:
Maybe I’ll change. Will you change?
Jill Glanzer:
Yeah, I think I might do that the next time I list a house. We’re like the biggest offenders.
Matthew Maschler:
There are so many things that we see in the MLS that we copy mm-hmm.
Jill Glanzer:
<affirmative> just because we’re like, it must be right.
Matthew Maschler:
No idea what it means. <laugh>. Um, so the multiple listing service is, uh, part of your realtors association. There are multiple different real state associations in the state of Florida. Each maintains their own mls. And the MLS is a database of homes for sale in that area. So if you live where we live, we have, uh, the Realtors Association of Broward, the Palm Beaches, and St. Lucy keeps changing its name. Uh, but if you’re in Naples, there’s the, the Naples Association of Realtors. They have their own mls. Uh, there’s a big MLS in the center of the state that I think 16 or 18 different, uh, counties participate in. And that’s where, where you’ll find Orlando and Tampa and things of that nature. But on the coasts, east and west coasts of Florida, there’s still all the different associations. And we’re a member of a lot of them over at Sy Real Estate Finder.
But they don’t always talk to each other. So sometimes, like when I look at my agent’s listings, I go into the mls, I look at my agent’s listings, I have other listings that aren’t there be because they might be listed in Orlando or Stellar or Naples. So, um, and then, you know, it’s all my new real estate agents out there, people in real estate school. Uh, and I wanna talk about this on a different episode. One day when you get your real estate license, you need to join one of the voluntary, uh, boards. And that way you get your MLS license, your MLS access.
Staci Garcia:
Yeah. I don’t know what I do without that.
Matthew Maschler:
Right. You’re, you’re licensed by the state of Florida is to sell real estate anywhere in the state, but you can’t list a property for sale or search a multiple listing service without access to the MLS that’s provided from your regional board.
Staci Garcia:
Word.
Matthew Maschler:
Okay. <laugh>. All right. What else do we have? Uh, country clubs. Just she showing people
Jill Glanzer:
Country clubs. I’m working with a customer who has some really specific questions about golf carts Mm. In country clubs. And I ask Matt, because he is really well versed in this. And even though I sell in country clubs, and I know a lot about them and I know the demographics and I know all the benefits and the, and the club information, I didn’t know the answer to that
Matthew Maschler:
Question. Well, someone had asked Jill about a country club that was up in Palm Beach Gardens that were not as familiar with. And it was, uh, a rule that you couldn’t use your personal golf cart on the golf course. And what I had to say to Jill is every country club’s gonna be different because there could have been an issue 15 years ago at that particular country club with a member using their cart, and it did some kind of damage to the course or something. And the board made a rule that said no personal golf carts on the golf course. Um, so just because something doesn’t sound right with all the different country clubs, you just have to call and ask and, and check the rules. Uh, when I was a kid and we used to go down with my dad in tab Boca West, we saw the craziest golf carts. Yeah. The
Jill Glanzer:
Rules Royce,
Matthew Maschler:
What some, some that looked like Rolls Royces, some that look like 56 Thunderbirds or Camaros or Mustangs. They were beautiful. They were in all different colors, all different sizes. Um, and it, and it was special. Um, my dad then moved to St. Andrews and St. Andrews had a rule that, you know, all golf carts used on the course had to be white or cream color. So it, it took, it made everything very, very homogenized. So, uh, where I live, you know, I bought a golf cart not to go on the golf course, just for, uh, I, I was a pioneer in electric cars right before the Tesla came out. I had my, my electric car. Mine has a license plate on it. It’s street legal. Uh, and I bought it in white over red or blue because where I live, there’s a rule only white carts on the course.
Um, so if you live in one of these country club communities, you know, if you, um, you pay your annual dues, you could pay a little bit extra to have your annual cart rental. But if you have people think they can get over on the club, if they own a golf cart, they don’t have to pay the annual cart rental. We’ll know the club will then charge you, uh, fees to access the cart trail. Uh, and it might be almost as much as the golf rental. Um, but if you have a private golf cart, you pay the fees to use the golf, uh, track, uh, the, um, I just said it and I forgot the word trail trail. If you, if you pay your trails fees, you can use your personal cart on the course as long as it, uh, conforms with the rules of that course as far as color or, or any other rule that that course might have. And it’s easy to call. You just call up the, uh, the country club, ask for the golf department and ask them if there’s, uh, if our, our personal cart’s allowed on the course. And if so, what are the restrictions?
Jill Glanzer:
What’s so funny about country clubs, I find is every new country club buyer thinks they’re gonna get one over on the club, yet every single person behind them that started in a club way before them have tried to do that. And they’ve literally made a rule for all of that. Yeah. Like, they’re so savvy because everybody that joins a club is pretty much very savvy. Right, right. And,
Matthew Maschler:
And everyone has a, a new idea how they’re gonna get over as if no one’s ever tried to get over on these country clubs before. No, no, no Sophisticated New Yorkers trying to, trying to break a rule. But, um, yes, every single member has, has tried. The board has, they’ve thought of all of these things in the past. And uh, and uh, it is very difficult to get, to get over on these country clubs. And some of their rules are bizarre, uh, cuz they’re allowed to
Jill Glanzer:
Be. And it’s such a fine line. You wanna make your customer feel good. You don’t wanna be like, oh, that’s an old, that that thing you’re trying to do. Millions of people have done that before and they’ve already made up rules for that. Like, you don’t wanna make ’em feel stupid. You kind of want them to feel smart, but then it’s like a fine line. Like, oh, I’ve heard that one before. Like, you can’t, you can’t say that
Matthew Maschler:
They’ve, they’ve, they’ve seen it all before. <laugh>. I, I I I like to say every New Yorker who moves down here feels is like Christopher Columbus out discovering a new country. <laugh>. No one’s ever been here before. No one’s ever thought you can make money in Florida real estate before you <laugh>.
Jill Glanzer:
It’s been going on for 50 to 60 years,
Matthew Maschler:
<laugh>. And that’s what happens. Now, people ask me about the market, right? Cause you know, you know, did we hit the top a few months ago? Where’s the market now? Is it cooling? And like for me, the end of the day, like selling real estate, yes, it’s a big investment, but at the end of the day, you know, it’s about a house or a home and people have to live in it. So they don’t buy or sell based on market reasons. You don’t buy or sell your house for the same reasons as you might buy or sell a stock. Right. If you don’t believe in the company anymore, you think the bad thing is gonna happen with the company. You sell the stock and buy something else. It’s your home. You live here. How many, how many human beings are gonna live in your house? How many bedrooms do you need?
And that doesn’t, your needs don’t always match with the market. Right. You might be buying when it’s a seller’s market selling when it’s a buyer’s market. So one of the reasons I always did well in the bad markets is I focused on people and what people needed. Um, you know, you have, you know, there was some slowness over the summer and interest rates are higher, so people are scared. But ats the end of the day, people still need to a place to live. And, um, you know, if I could be graphic, they, you know, a lot of the need is based on who they’re sleeping with, right? You know, we’re, if they’re no longer sleeping with their wife, they need two new house. They need to sell one house and buy two new houses, right? They find a new person to sleep with and they need to buy a house that accommodates that.
So sleeping and living in a house, um, very much dictates, um, uh, the purchase more so than, uh, the market. And, um, and that’s never gonna change. And that’s in any market, not market or down market. And I’ve seen enough up and down markets having been down here since the eighties that I just feel very old. Like, look, well, I’m tired of talking about the markets up or the market’s down. I don’t know what year is it? Is the market I market get down if people are buying and selling based on need? And then I was telling someone the other day that, you know, on the very high end, right, there’s five houses maybe in Ro Palm Country Club in, in the $20 million range. And the very high end, you know, a family, you know, a guy who can afford $20 million and wants to move down to Boca with his family from LA or Chicago or New York or something.
Well, they can’t get their kids into private school. So they can’t move down here, buy a 20 million house move down here if they have three kids and they don’t know where those kids are gonna go to school. I think St. Andrew’s, uh, school in Boca Raton turned away 200 students, uh, this semester, right. 200 potential students. Um, because they just didn’t have their space. And so if you have, uh, someone in eighth grade, fifth grade, and third grade and 20 million to burn on a house, and you can get one of your kids in Pinecrest and one of your kids in St. Andrews, but the third kid, there’s no spot for ’em. And you’re gonna put ’em in public school. The $5 million buyer might be okay with that. The $20 million buyer may not be. So, uh, so it does become a problem on the, on the very high end.
Jill Glanzer:
Do you think as people graduate and go through the system in these private schools, like if there’s more space is gonna open, right?
Matthew Maschler:
Yeah. But a lot of people have moved here with babies and infants, so That’s
Jill Glanzer:
True. So there’s, and they’re gonna take those spots. Those
Matthew Maschler:
Spots.
Staci Garcia:
I mean, I’ll tell you what the differences was for us yesterday. We saw a unit that we saw last year. Mm-hmm. <affirmative> the first unit that we saw. Um, somebody bought it last year and we didn’t win. Right? Like, look, we didn’t put in an offer, but it was like negotiated as we got there and we were like, okay, forget it. The person bought the, um, unit at the beach for a million, uh, 75, right? And um, now it’s just, I think it maybe, you know, less than a year later, they’re selling it for like 1,000,001. Like, and, um, my, the listing agent was super nice. She said, uh, my, my seller’s very motivated. Uh, it’s eight day 88 on the market. Uh, they’re willing to put in a credit for, uh, renovations. Like now we can go below the amount that the buyer, that the seller bought it for. Right?
Matthew Maschler:
And, and,
Staci Garcia:
And make her offer for lower than that. Right.
Matthew Maschler:
You ran up the, you ran up the prices last year against the
Staci Garcia:
Stellar. You ran up the price, they paid it, and now they’re going to accept less than what they paid mm-hmm. <affirmative>. So, and, and there’s no shortage of competition to get that unit right now. Right. But if you look in the history, which my, I show my buyers, I look in the history they’ve been trying to sell for 88 days, it started high. It’s now less than what the, the seller paid for it. So, um, I said, we can offer much lower and they’re willing to take it if we wanted.
Matthew Maschler:
Why do you think that is? Like, do you think that the, there’s been a, do you think that the buyer made a mistake a year ago?
Staci Garcia:
Um, the listing agent said that she had a job opportunity elsewhere and, you know, and took it so she wasn’t even there. But, um,
Matthew Maschler:
Did they overpay a year ago?
Staci Garcia:
No, it was a great unit. It’s absolutely, you know, at, let me tell you what the difference is. Last time we saw it, it was the only one for sale. Ah, this time we saw it, there was two more in the building. Mm-hmm. <affirmative>.
Jill Glanzer:
Now inventory has gone up. Yeah. Yep.
Staci Garcia:
Supply a demand. So now the first thing we did was we went to that one first cuz we had seen it already and it looks the same. And we were like, okay, we still like it. And then we went to the next one, which was, um, 10 floors higher mm-hmm. <affirmative>. And then we went to the next one, which was a penthouse. And then so they saw like three levels and they said, let’s, let’s put the offer in on the penthouse this time. Yeah. But if there wasn’t the other inventory, we would’ve made the offer on the first one.
Matthew Maschler:
Sure. Yeah.
Staci Garcia:
But that’s the difference for me is there’s extra inventory.
Jill Glanzer:
Totally. Like I’m finding in one of the country clubs in Boca, there used to be like three homes for sale. Now there’s like 18. But you know what I’m finding too is the sellers are still not lowering their prices. No. Like, like I was showing these houses two months ago to a buyer in Broken Sound and these houses, they were like, oh yeah, they, they already are set at their price. Okay, well now it hasn’t sold, it’s been another 60 days. Mm-hmm. <affirmative>, like at some point, why are sellers still standing firm? Are they still remembering the high prices of last year? And they’re just thinking event. Okay. It’s go, there’s always a reason. Right? So maybe the realtor’s perpetuating it and saying, oh, well it’s gonna be season soon, don’t worry. Right. More people are coming, but then by the time the season can’t comes, it’s been on the market for four months. And those savvy season people who are here for season, they’re very savvy and they don’t wanna pay that price that’s been on the market for 140 or 120 days. So I’m not sure what’s gonna happen with that. I’m wondering how it’s gonna shake out.
Staci Garcia:
I think that the people might not be that motivated to sell.
Jill Glanzer:
That’s they’re just did it because they’re basically we’re late to the party.
Staci Garcia:
Yeah. They’re like, well, hey, let’s put our house on the market and really high and see if it sells. And if it doesn’t sell, who
Jill Glanzer:
Cares? The best is somebody bought a house a year ago for a ridiculously low price and had it for sale. I think they bought it for two 40 and they listed it for 675,000. Mm-hmm. <affirmative>. And they, they told their realtor, which I think is really funny. They told the realtor, I did all this work to the house. I looked at the old listing. Exactly. It was exactly the same. Yeah. And the realtor’s like, oh, he said he resid the kitchen. I go, did you look at the old listing <laugh>? Because this is what, where I feel like you’re a better realtor. Yeah. I do a lot of research for my customers. Same. I know you do too. Mm-hmm. <affirmative>, because I love it. I truly, like, this is my thing. So I’ll look at the old listings and I’ll show a customer this is what the old kitchen looked like. Right. You know, in the pictures from like five years ago. And then this is what this new buyer, you know, new buyer did. It’s the best story. Yeah. You
Staci Garcia:
Know, like if they didn’t do anything, they wanted to play it off like they did because it was, you know, they wanted double the, they just wanted to invest, flip it and make the money without doing the work or the work was done and they got a good deal
Jill Glanzer:
And all. Yeah. And I think this guy did get a good deal. And ultimately Mattey says it really doesn’t matter what the customer paid for it. Right. It really doesn’t matter what the seller paid for per percent what the seller paid for it. If the buyer’s looking at the property appraiser and going, oh, he only paid this much for it, then I’m only gonna pay 20% more at the most. You can’t really look at it that way. You have to look at the market and the comps and the things that are pending now and what’s going on in the market. You can’t use that. I mean, you can try, but it may or may not work. Right. And in most cases it doesn’t work, especially in that hot market we were in. Yeah.
Staci Garcia:
We, well, we saw another building with a bunch of, um, units that were vacant and in the process of being renovated and twice the price, but they weren’t renovated yet. They were like, it says down to the studs, do what you want.
Jill Glanzer:
<laugh>.
Staci Garcia:
My
Jill Glanzer:
Buyer was like, blank canvas. Why
Staci Garcia:
Is it twice as much money? And the building was not warranting it to be twice as much money and there’s no furniture and there’s no walls and there’s no nothing. It’s down to the
Matthew Maschler:
Studs. So I want, I want to go back to what you said about worth to celebrate for it. Right? Right. When you’re, when you’re buying real estate or buying any product, the question is, what is it worth today? If I show you three identical condo units or three identical houses in a cookie cutter kind of sub development, and one was bought 30 years ago for $122,000, one was bought 10 years ago for half a million dollars and one was bought last year for a million dollars, and right now it’s worth 1,000,002. Right. You’re gonna, you’re gonna say, oh, that person bought a bought it for a million dollars a year ago. I’m not give them, let ’em have that $200,000. But if the some person bought it 30 years ago, well, oh yeah. Understand Ago 30 years ago things were spent, were lesser money. Right.
You know, things appreciate over time. It’s what is the house worth today? So when Jill started with me and we were doing a lot of, uh, mortgages and foreclosures, like a lot of times I wouldn’t tell her what my position is. Right. If I owned the mortgage and I foreclosed on the guy, I wouldn’t say, what did I, what was I into the house for mm-hmm. <affirmative>. Because I wanna know what is it worth today? Doesn’t matter if I made as a seller, I, I, I’m not gonna say it doesn’t matter if I lost money, but as far as what is it worth, it doesn’t matter if I made money or lost money. Right. It doesn’t matter what I paid for it. If I paid a hundred thousand for it or a million for it, what is it worth today? And as a buyer, you have to say, okay, today in this market, what is the property worth? And if you see that the person bought it last year for, uh, a little bit less, or if they bought it two years ago for a lot more, doesn’t change. What is it worth today?
Staci Garcia:
Yeah. Yeah. Mic drop sense, mic drop, mic
Matthew Maschler:
Drop and all. And again, to the person who maybe they thought about selling it in in March or in May when we were at very high numbers, and then those buyers aren’t here right now. Yeah. You know. Okay. Maybe you could have gotten, you know, more for it in February, but it’s not
Staci Garcia:
February. Yeah. A a definite, there’s a definite change. I have, uh, listing agents, so we put the offer in with one listing agent, but I met like five of them yesterday. Uhhuh <affirmative>. And, um, they’re already contacted me. Hi Stacy. Um, how nice meeting you. Um, what did your buyer decide? Okay. So that means to me like, mm, I like I have the buyer now. Right. Before it didn’t matter whether you had the buyer because everybody had the buyer. Right. Now I have something that nobody has. I have the buyer and I feel like I’ve got this special person because buyers aren’t everywhere right now. Like they were.
Matthew Maschler:
Right. And which is, which is the same as it’s been for most of the industry. It’s just that Yes.
Staci Garcia:
But recently switched recently couple
Matthew Maschler:
Switch La la last year you were, you know, that you, you know, we were were selling houses at auction. Yeah. You know, we were, you lost a house and you’d have, you know, 10 or a hundred buyers. Yeah. But I still get every single day, um, a buyer, you know, a buyer for a house in Woodfield that doesn’t exist. <laugh>, um, you know, they want a five bedroom house in Woodfield that’s not like crowded. And it’s not like, you know, you know where all the houses are on top of each other and they wanna spend a million dollars for it. And I’m like, it doesn’t exist.
Jill Glanzer:
Yeah. What field needs to expand? I’m
Matthew Maschler:
Just kidding. <laugh>, we, I want go to a second level.
Jill Glanzer:
Yeah. There you go. There
Matthew Maschler:
You go. No, it happens. Has is that the buyers have to understand what their alternatives are. You know, you have, um, there’s a, there’s a country club, uh, Boca Lago that I I heard recently had, you know, a good group of people who lived at Woodfield who were on the waiting list for golf, who joined Boca Lago to play golf while they’re on their waiting list. Mm-hmm. <affirmative>. But, um, but you have people who, you know, you know, not, not that Boca Woods is anything like Woodfield, but you have Boca Woods where there’re 50 new buyers with young, you know, families with young children who are in Boca Woods or in, in a lot of these country clubs. I’m even starting to hear a little bit about Boca West turning, turning over and aging, uh, uh, aging a little bit lower. Um, which I haven’t heard those, those words in a while.
Staci Garcia:
But at the same time, the people that are now older than they didn’t expect to be the older people on the street. Right. Uhhuh <affirmative>. So now they’re older and not that they want an over 55, they wanna hang out with all their friends without younger people around. Right.
Matthew Maschler:
I’m sorry, I’m starting to hear that from
Staci Garcia:
Right. They don’t wanna feel from Wendy. Oh, you don’t want like the 25, 35
Matthew Maschler:
Year old. She doesn’t recognize all the, all the new people at Woodfield and they, someone’s younger than
Staci Garcia:
Her. Yeah. See, and then they end up all together going in a group Yeah. To the next place.
Matthew Maschler:
Yep,
Jill Glanzer:
Yep, yep. True. Because what a lot of country club buyers don’t get when they first come down is they’re super excited about the club, but then the housing product Right. Doesn’t really meet, always meet their expectations. Right. Because a lot of these, these homes are older now at this point. Yes. Some of them have been redone beautifully, but then it’s sort of like a decision, like, do I care more about the community and I’m gonna sacrifice a little bit on the house and maybe do some upgrades? Or am I gonna go to a newer community, like a GL homes community, right. That doesn’t have golf, join another golf course and have a new house. So it’s really like a big decision.
Matthew Maschler:
And so what’s important is that we sit down and we talk about it. Yes. Because so many buyers now, they, they, they wanna look at a house mm-hmm. <affirmative>. Um, but, but they don’t, you know, but if we could sit down and have a conversation, just like I could sit down and have this microphone and talk for an hour, we can sit down and talk about what it is that you want, because we might be able to find some alternatives that you don’t necessarily know about. But you know, that buyer who wants the five bedroom house in Woodfield, they’re not working with any specific agent because they’re waiting for some agent to show them something, some unicorn that doesn’t exist. So the ones that are succeeding are the ones that are, are working with an agent who are pounding the pavement a little bit and finding out what’s going on. But, um, but you know, Woodfield specifically where there’s not a lot of inventory, uh, and there’s a lot of people sitting on the sidelines, you know, I, I chuckle when someone sends to me, oh, hey Matt, my friend wants to buy a house in Woodfield, five bedrooms, million dollars,
Jill Glanzer:
<laugh>, like, join the club. <laugh>. Well, I’m trying <laugh>
Matthew Maschler:
And I re I re Yeah. I remember when I 2005 when I was down here looking and, uh, you know, saw, you know, five bedroom house, 5,200 square feet and it was like $650,000. And I watched that house go up over the years. When, when, when that broke the million dollar mark, I went, whoa, holy only million dollars for that house. Now, now, now if I, I can sell 10 of ’em at a million dollars. Yeah. All day long. So, uh, country clubs and supply and demand and golf carts and <laugh> furnished, uh, furnished housing or making offers unfurnished, what else is going on?
Jill Glanzer:
It’d be great if this was a live radio show where people could ask questions.
Matthew Maschler:
People could ask questions, call ’em all us up anytime we can record it or Yeah, we could stage it. I take a lot of questions and I write ’em down and I bring them to here so I can answer the questions. Um, I wanna do an episode about starting as a new agent. Maybe, we’ll, maybe we’ll do that the first week in 2023.
Jill Glanzer:
Do we have any realtors who have questions right now that we can call <laugh>?
Matthew Maschler:
Call, call <laugh>? Should we call up a realtor and see if they’re, if they answer their phone,
Jill Glanzer:
We could. Who do we wanna
Matthew Maschler:
Phone? Stacey doesn’t like that, Gabe, I
Jill Glanzer:
Don’t, it’s kind of mean because if they, they might answer the phone.
Staci Garcia:
I do only answer my phone for Matt <laugh>. So Sophie, if he called and, and I, and I answered, I’d be like, what?
Jill Glanzer:
And they, sometimes their voicemails don’t have a recording either, which is a big pet peeve of mine
Matthew Maschler:
Too. Oh. Just like,
Jill Glanzer:
You know, like, it’s just like the, the recording that’s there,
Matthew Maschler:
The, the, the automated one, my pet peeve, cuz you gotta sit and listen to it. It’s like 25 seconds before I can leave a message.
Staci Garcia:
<laugh>.
Jill Glanzer:
There is a trick to that. Probably like a bypass maybe. I’m just not sure what it is.
Staci Garcia:
I don’t even, I’ve never listened to any of my voicemails.
Jill Glanzer:
I don’t think most people do. I actually have a customer that I call and he will actually say, do not leave a voicemail, cuz I will not be checking them. Just text me. <laugh>
Matthew Maschler:
<laugh>
Staci Garcia:
Mine gets transcribed and texted to me. Anyway,
Jill Glanzer:
It’s amazing how things have changed so much over the years, like from, you know, voicemail machines where people left long messages and you would listen to that.
Staci Garcia:
I’ll tell you something really quick and funny is that I was sitting in the back of a limousine probably 20 years ago, and there was a guy that was producing a music show in Miami that I was driving with him in the back of the car to Miami to do the, uh, transportation. And he was texting and I had never seen anyone text. His name was Cameron from California. And I remember thinking, wow, why do you wanna do that? That’s the dumbest thing I’ve ever seen. Can’t you just talk to someone <laugh>? He said, this is what he said. When you’re backstage at the show, it’s so loud that you can’t actually hear anyone else. So we, we send messages, but we write ’em down and I’m like, but you’re in the car right now with me. Why don’t you just call? And he goes, because the person I’m talking to is backstage at the show.
And I said, oh, he was the first person I’ve ever seen texting. And at the time I thought it was the most ridiculous thing I’ve ever seen. What year was it? It was probably like 2011. Oh no, I wanna say it was, um, no, no, it was way before it was, it was super early. I wanna say it was probably 2000 the year. Oh my goodness. That’s because I don’t think I really started texting until I started working from with Matt. Yeah. Like, it was like 2011 and he would text me stuff and I was like, oh, I got, I’m not used to this. Okay. You
Matthew Maschler:
Know? Well I was texting on a Motorola razor, so it was, it was the old fashioned, you know, telephone keypad. Right. So for like an M you had to press
Staci Garcia:
Six B beep, beep,
Matthew Maschler:
Beep. Yeah. For an M you had to press six and which, and then you press it again for mm-hmm. <affirmative> and you press it again for o press it again for like upper cases. Yep. So it was a, it was a difficult, uh, difficult to text. And then when I got my Blackberry,
Staci Garcia:
I was gonna say, I might have been a Blackberry. He was on, or it was a phone and he was actually doing the aa, you know, whatever.
Matthew Maschler:
Yeah. I got my Motorola razor when, when everybody else was on their Blackberry. So then I got my Blackberry and then, uh, I remember very much when I got my Blackberry pearl mm-hmm. <affirmative>, I was very excited, but everybody else got iPhones and I was gonna go for my black ray pearl. And then I set up the iPhone for my dad and for my stepmom and for Wendy. And then I went to, took my, I we, we got three iPhones in the black Ray Pearl. So I did my, I set up my black Ray pearl then, then three iPhones, and then I go back on black Ray Pearl. I’m like, this is primitive <laugh>. And then I had to go return it.
Staci Garcia:
Definitely. The difference was you got to, you got to text with two thumbs on the
Matthew Maschler:
Blackberry. The Blackberry,
Staci Garcia:
Yeah. Yeah, yeah, yeah. When you had to go down to one thumb, I was like, ugh.
Matthew Maschler:
Well that’s, that’s, that’s what hurts on these songs. <laugh>. I love my black
Staci Garcia:
Pants. You should see my fingers from holding the phone while texting with one hand.
Matthew Maschler:
You know, I used to sound old when I talked about my pager <laugh>. Now I sound old when I talk about my Blackberry
Staci Garcia:
<laugh>. Yeah. Crazy. Well talk about your brick phone.
Matthew Maschler:
All right. All right. So that’ll do it, uh, for the Real Estate Finder podcast. If you can’t get enough of me, check out my Matthew Mania podcast. Uh, we have a little bit, we have just as much fun boat. We talk about Nonsense
Staci Garcia:
<laugh>.
Matthew Maschler:
I’m Matthew ler Real Estate broker with signature Real Estate Finder, real estate finder.com.
Staci Garcia:
Stacey Garcia with uh, no hoa boca.com. Jill glanzer with real estate finder.com as well.
Speaker 4:
The future looks bright and the pass by the skies dog Blue. When it’s almost that time, life shows cameras flash. When I passed living in the moment, forget about the past. They saved the best for last. Matthew Mania. We about to make a splash. Life is a marathon full of sharp terms. Gotta keep pace while hands on the clock. Hot sticks. Five star real estate. I run a show you can tell the boss, play electricity, energy, vibrate. I’m always on time. Even if I’m late, I make dreams come true. Living my life. Hope the same for you. My sight got a real clear view. If you don’t know the time, I’ll give you a clue.
Speaker 5:
You know what time, you know what time, you know what time It’s, you know what song, you know what song, you know what song is, you know what song? You know what song. You know what it’s, you know what song. Know what. You know what its,
Speaker 4:
You know what time. Its, you know time. It know what time. It’s Matthew Mania. The Time it says, you know what time it’s, you know whose time it’s, you know what time It’s Matthew Mania. The time it says, yeah. Got him shook, scared. Can look. We’re not afraid of the big bad Walk. First comes the right.
