Real Estate Explained

Finding Off-Market Gems, Beating the Spring Rush and Skipping Zillow Traps with Victor Criales

• Nick Bush

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Speaker 1:

Welcome to Real Estate Explained, the podcast that gives you a backstage pass to the ever-evolving world of real estate. I'm your host, Nick Bush, a realtor with over a decade of experience helping clients buy, sell and invest with confidence. Whether you're a first-time home buyer, a seasoned investor or just curious about the market, this show is for you. Each week, we'll dive into trending topics, break down the latest real estate news and bring you expert interviews with the pros so you're prepared for every step of the journey, Ready to turn your real estate goals into reality. Keep watching, Vic, Vic, Vic. Welcome to the pod, my guy. Thanks for having me, my friend. Yeah, welcome back. This is the second iteration of the podcast. Now we got Bronson, there we go. So the clips are getting out. People are like man, I'm getting comments all the time about the quality, so shout out to CPB?

Speaker 2:

Yeah, for sure.

Speaker 1:

Real estate agents use them. I'm too loud in here, so he got headphones on me.

Speaker 2:

There we go, so I can hear myself.

Speaker 1:

It's a very interesting experience. Like an echo almost You've got to mute him a little bit. Vic's like he's too loud in my ear, he's so loud.

Speaker 2:

No, I'm just kidding, I'm kidding.

Speaker 1:

So we got Victor Crealis in here. Yes, sir. How do I say it in Hispanic though Crealis, Crealis, Crealis. I'm going to put the accent on that. Do that, bro. You know what I mean.

Speaker 2:

Do that bro Vic, how long have you been in the game Technically? Since 2005. Okay, so I came into business, but then I was a kid and then I part-timed, like you know. Now I'm doing DC, Maryland, Virginia. How about you?

Speaker 1:

I've been in the business nine years, since 2016. Licensed DC and Virginia, and yeah, so I tell people almost a decade, I think. Even on my intro I say a decade of real estate experience. Okay, okay, so you got out of the business or were you a part-time?

Speaker 2:

No, no, no, no, I was full-time.

Speaker 1:

Yeah, I was a full time.

Speaker 2:

So I guess during I was a, when I was a kid, right, I was a heavy buyers agent and at the time banks were lending Right, so I had clients that just couldn't get loans Right. So, so you know, I had to go back, I went back to insurance and did that, and and I did that and I never stopped doing real estate. I never stopped doing real estate.

Speaker 1:

And you've been like full-time. This is your only thing you're doing. For how long now?

Speaker 2:

Oh, it's been a while now. Yeah, probably like seven, eight years, your season.

Speaker 1:

Yeah, I see you doing a lot of business up in Baltimore.

Speaker 2:

Not a lot of business, not anymore. I try not to. I'm trying to refer it. Help them buy. So when they're they're ready to sell, I'll help them out. But I mean it's far man it's far you know what I mean. But but.

Speaker 1:

But yeah, I've done a lot of business in baltimore what do you think about baltimore as a uh investment market?

Speaker 2:

um, it's a good place for like cash, you know, uh, it's a, it's a cash situation over there. You can get a lot of like section eight homes over there and they make. They make sense on a monthly right right Like buy, renovate and refinance, and it's good, it's a cash flow situation. But the homes over there they don't like raising go up in value too much, right, so you're probably going to sell it for roughly around the same amount that you purchased for like 10 years later. But it's a different kind of game. Man, do you own any investment properties? I do, I do, I do. Yeah, I have a rental in alexandria. Uh, yeah, we have, I have a. I'll give a couple.

Speaker 1:

Yeah, he's gonna be being modest, I'll argue my portfolio away. So, as an investor, are you more of a? Um? Are you more of a? Um? Cash flow, investor mentality or no growth? No?

Speaker 2:

no, yeah, growth investor, yeah, it's a it and it's not like you know, it's not I. I don't even have the home that I want to live in, like right now. Right, so, you know, saving up for that, but um, but no, it's just properties that I had okay yeah, like owner occupied, kept it rented, bought another house.

Speaker 1:

That's a good way to do it, man. I would do that if I was. Bronson should be on property number two. Number two Do you own any property, bronson?

Speaker 2:

Yeah, how many do you have? I got one in Gainesville, nice, and this one I live in Okay. I'm a fan of my boy in Florida. Florida, my dad's in Florida, so if I buy it, him and my sister can just live there. They need a rent.

Speaker 1:

St Augustine. That's near Tampa, isn't it? Yeah, no, what am I thinking? I? Don't know my dad's in Tampa.

Speaker 2:

St Peter.

Speaker 1:

I'm going to Tampa on Sunday, so that's why Nice.

Speaker 2:

Yeah, I've never been.

Speaker 1:

You should be Bronson. You should have like six by 30. Then you're a millionaire.

Speaker 2:

How old are you, Bronson?

Speaker 1:

24. All right, vic man, introduce yourself. We just got right to it. Introduce yourself.

Speaker 2:

Tell the people who you are. Yeah well, first, professionally, I'm Nick's homie, right, I'm Nick's buddy. Now I'm a real estate agent. I love what I do. I've been in the game for a long time. Nobody's going to care more about their clients than me, right Straight up. I'm currently a solo agent. I uh you know people that help me out. I have, like, uh, my wife helps me out. I have, uh, uh, I have a virtual assistant, but when you reach out to me, I'm gonna, I'm gonna be the one that takes care of you. You're doing a deal yeah, yeah.

Speaker 1:

Um, do you feel like you niche down in any part of the market? Do you do more buyers, more sellers, more move-up buyers, more down?

Speaker 2:

yeah, no I mean I no, I mean I'm everywhere, unfortunately. I mean it's a blessing and a curse. Right, Like you, learn a little bit of everything, but I do a lot of investors. I work with a lot of investors, a lot of first-time home buyers. You know, just been in the game for a long time, so my listings usually come from like folks that I've already sold homes to. But yeah, man, I'm all over the place, brother. I mean, like I said, DC, Maryland and Virginia. So I have a broad net and it's great, it's wonderful. If I have somebody that's been referred to me, they want to look in Bethesda, I can help you in Bethesda. If somebody says, hey, I want to find a place with a lot of land in Warrington, I can do that as well. Right? Problem is I do a lot of driving, A lot of driving, do a lot of driving, yeah, what kind of.

Speaker 2:

Do you love your car? Do I love my car? No, no, no, no, I mean I don't mind driving, you know what I mean. But I think it's like I should probably just try to concentrate on one area right and things to like. Concentrate on one, like one area right and, and you know, things will come, other areas will come, but like I should definitely market one area, you know.

Speaker 1:

So I don't, you know, I don't spread myself too thin I uh, I mean I'm driving around too, um, but I made sure when I, you know I was gonna buy a luxury car anyway, yeah, but I was like man, I'm in my car all the time. Sometimes it feels like I'm living in my car for, you know, days at a time I'm not actually living in my car, for days at a time I'm not actually living in my car, but sometimes you're just driving it so much. And so I was like when I buy a car, I'm going to love my car. Every time I get in, I'm like, oh, this is amazing to drive.

Speaker 2:

Yeah, you don't worry about like, because I got a Lexus, I got a Toyota.

Speaker 1:

Oh, you got a Lexus, I got a Toyota. Okay, straight up like it's.

Speaker 2:

It's because of that boy doesn't break down yeah 43 miles a gallon, right, hybrid, and I'm everywhere, right, and that's so. So I'm, I'm trying to put 300 000 miles on that car. Okay, I, I gotta like it right. But but you have a, you have a range, right? Yeah, I'm a little worried, I see. I don't know if I could be a real estate agent in the range, bro I mean I pay to play bro.

Speaker 1:

Yeah, I just look, I got a range. I mean it range, I mean the stories about it breaking down and all those things I haven't experienced any of that yet.

Speaker 2:

Knock on wood.

Speaker 1:

Yeah, but I'm just like pay to play, bro. Maintenance, maintenance is no. So I bought my range with 17,000 miles on it. I bought it in 21. It was a 2018. It had 17 000 miles on. It was a corporate lease. Okay, now I have 68 000 miles on it because we drive so much, obviously right. And I just came up on the first, like, replace the brakes. Replace. So like, yeah, 50 000 miles, those things had to be replaced, but it wasn't crazy expensive. Yeah, it's not. It's not that expensive, so I'm smooth.

Speaker 2:

Yeah, no, I put $40,000 on my car like real quick yeah, real quick yeah.

Speaker 1:

People listening to this. Just let you know, man, your real estate agent is riding around trying to get you those houses, yeah. And we're hustling out there. So you said especially working with investors. You said you work with a good amount of investors right, yeah so what's your investor profile? Are you working with flippers buying whole guys?

Speaker 2:

yeah, I got a, yeah, both, both, I got a. I got a few flippers and I do have like a buy, like probably two buy and hold guys okay, and they're wonderful and and you know, I actually think working with, with, with them, it's less emotion, right. It's more about the house, right, it makes sense, the numbers make sense. Okay, cool, very little emotion. I actually think it's very easy, it's easier.

Speaker 1:

And are you finding them deals off market? Yeah, yeah, sometimes.

Speaker 2:

Yeah.

Speaker 1:

So what is the process of finding a deal off market? How do you go about?

Speaker 2:

doing that A lot of times. It's like we're with eXp right, for people that don't know. And if you're with companies like eXp or Compass, we just have more agents and they're not, uh, they're not divided by like uh franchises, right. So if it's like uh say Keller Williams Metro or Keller Williams say Fairfax I don't know if they even have one, but um, but they're, they're only able to uh offer the off market property to their agents, right. But then they can't offer to all of Keller Williams because they're, you know, they have smaller, they're cut off right, like, whereas eXp, we're nationwide, right, so we have more agents and they're not divided. So you know, you're able to offer a lot of off-market property and I don't think that eXp folks are agents, are taking advantage of that as much.

Speaker 1:

Yeah. So let me tell you guys what Vic is actually talking about. So, in real estate and because of the laws right, a brokerage like Keller Williams, Long, Foster Weicker, these type of brokerages, they're franchises, they're individually owned and operated I don't think Long and Foster Well, maybe not Long, and Foster.

Speaker 1:

So let's just say Keller Williams, I know, is a franchise, so a brokerage like Keller Williams is a franchise. Century 21, these brokerages, right. And so, because of the real estate laws and off-market listings, pocket listings you can only share off-market listings inside of your brokerage with your agents, right?

Speaker 1:

So, if I'm Keller Williams Fairfax, for example, and I can't share with Keller Williams Arlington, right, and these places are 20 minutes apart, your buyers could be missing opportunities. Companies like Compass and eXp we're with eXp. It is just one company, it's not individually franchised, so we can share listings from DC to California back and forth, and so there's an advantage to the consumer because they get access to all of those listings that don't necessarily have to go on the market, which means you may not have to compete. You can try to sell your property off market and for your investors there's some opportunities there sometimes. Yeah for sure, your property off market, and for your investors there's some opportunities there sometimes.

Speaker 2:

Yeah, for sure, for sure. Yeah, I mean, that's the easiest way for us to take advantage of our company, right, it's a great benefit for us. But there's also other ways to find off-market properties. You can send letters If you have a client that's not necessarily an investment side, but I want to live in this building you can literally just send a letter to everybody in that building that wants hey listen, I'm a buyer, are you looking to sell? You can do that. That's a way to get off-market properties.

Speaker 1:

Yeah, I have some clients in McLean that are looking at McLean. The McLean market is kind of active right now mclean and vienna, yeah and I sent letters like 178 neighbors. Um, two people responded to the house didn't work for my, my clients, but that is definitely, that's definitely a way. So, uh, what do you think is what's happening in the market? Uh, right now, like, what's what's going on with your buyers? What's going on your sellers? What are you seeing outside?

Speaker 2:

yeah, um, you know it, it's funny because it's all over the place, man, like, I see a lot of houses. Well, first of all, like the houses that are like nicely presented, they're going fast, right, and it depends if your client has like vision too for renovation. Some people are scared to do renovation. Some people are scared to, you know, to replace a door knocker, right, those aren't the people. Those, those people need some.

Speaker 2:

A home that hey, listen, I'm okay to paint it, but like nothing else, right, and uh, those people, a little, there are a lot more limited, right, but if you are, if you have a client that's, you know they're willing to do a little bit of work, you can get a great a bunch. You can still get a lot of great deals on it. Um, yesterday my clients were interested in a few homes and they had nine offers on it and honestly, I wasn't expecting that. I wasn't expecting it to be that competitive. So I was actually a little taken back because I've been able to negotiate closing costs, lower the price and like closing costs, you know, lower the price and negotiate closing costs. And yesterday two homes of my clients were interested immediately two offers on one and the other one had nine offers, so you know it can be competitive. I guess you can still get some good deals, but some homes are very competitive.

Speaker 1:

Where are you seeing that as mostly competitive? Like what cities are you seeing that in?

Speaker 2:

Well, that was in Warrington, Because you're doing deals right now, bro, right, right, yeah, I'm doing all right, thank God, you know, but that was in Warrington. I was able to negotiate we're closing tomorrow on a townhouse that we were able to excuse me, a condo in Brest, and that we were able to drop lower the price and get some closing costs. That's good for you. So, you know, know, I'm able to get some deals on some properties. Right, it's not, you know, it's not like it was like, say, three years ago. Yeah, right, do you find it?

Speaker 1:

yeah, I find it the same. You know, what's interesting is that we still reference, like that's how crazy that covet time was and how insane the market is. Yeah, because we still reference 2020, 2021. Yeah, it had such an impact on everyone. Um, what I'm saying I think you hit the the nail on the head is that, and this is what I tell my sellers, and even I tell my buyers I say look the homes, I call them the cream of the crop, the homes that are the cream of the crop, that are fully updated, painted, staged, nice kitchen, nice bathrooms, marketed, correctly priced. Well, those are still getting multiple offers and they are still selling over list price. Right.

Speaker 1:

Yeah, for sure so if you're a seller, right now it's advantageous for you to do the work, spend the $10,000, $15,000, whatever it is to update that, because when you put yourself on the market, you're going to get multiples right. Yeah, I think. As a buyer, it is very case by case basis. Yeah, for sure, and you have to really go in. So when I first got into the business, I had a lot of first-time homebuyers. I was 26. So I was working with a lot of first-time homebuyers and people would say, oh, how much do I need for down payment? At that time I was oh, we got VHD. Yeah, oh, we'll get your closing costs taken care of, don't worry about it. But now I'm like 6%. Yeah, because 3% for down payment minimum and you're going to do 3% for closing costs. You just need to be prepared.

Speaker 1:

So, I'm like you need to have 6% to buy Now. If you don't have to put that entire 6% down, that's great. But I like to tell people to come to the table with some money if they can, If possible, Because you may be competing and there's some people that just aren't going to be able to do that.

Speaker 2:

Some people just don't have it and I do like I'll be honest, I do like helping those. I don't if I can help you, if you are willing, if you're not, there's some people who are just unrealistic. Do you know what I mean? And those people I'm like, hey, listen, you know like I'll try to, I'll try to help you, but if you're realistic and you are just barely like scratching just to get your first home, yeah, I'll help you out, right.

Speaker 1:

There's a.

Speaker 2:

I've done. You know, I have somebody right now that's just hey, listen, I can, I can put down the three point three, point five for a FHA, for FHA, and that's all that I can do. Yeah, so you know right there how limited that person is going to be and how uncompetitive they're going to be on some properties. Right, but you know like you can get it done, yeah, Right you can get it done.

Speaker 1:

Yeah, you can get it done. Big is a smooth operator man. Let's go back to something you brought up at first. You up at first you were like, hey, look, you call me, you get me, I have an admin, whatever, but I'm doing the deal for sure. So you're a solo agent. We call industry solo agent. How do you? What's your perspective on solo agent? Verse team for the consumer buy side and sell side you know, for the consumer.

Speaker 2:

What advantages do you have? Right, like my, and it just mean, maybe, my inability to trust others to do the work that I can do myself. Right, and I think that I would have been like I, I, I have to grow and I'd have to, and I have to get other agents for to improve my quality of life, right, yeah, um, and you know I, I hire admins, so I can, you know I can. I don't get spread too thin and I can. You know I, I hire admins, so I can, you know I can. I don't get spread too thin and I can. But you know I best represent my client, right, so, to be honest with you, I don't know, I think that I think that it's better to be go with the, you know the, the aid, the best aid, the better agent, right, and I feel that that would be me right now.

Speaker 2:

What can I, if I get other people that to to work for me? I mean, I guess I can help them. I mean they can look at houses for me, narrow it down, say, hey, these are the houses that I think that you should show them, and you know, in that, in that regard, right, like, I think that that's what I'm trying to do right now, right, but I don't think that there is. You know, I don't think that there is like too much of an advantage for the buyer themselves. You know, I think that they should work with the best agent possible, right. What about you? I mean, do you want to get you know Nick the realtor, nick Bush the realtor, or your assistant, right? Or you know your junior agent?

Speaker 1:

Yeah.

Speaker 2:

Ultimately, they're going to be represented better by you, right. Yeah because I'm the best agent in the DMV, but you're the best agent in the. You said, oh, the DV, dv, because there's no M in there.

Speaker 1:

DC, virginia. Yeah, no. So my opinion on the team versus the solo agent is that you are still going to be working with one agent at a time, right, and the team is more there is there for support, support. So, for example, I'm a real estate agent, you want to buy or sell a home. I'm going to be the one doing that deal, right, right, I'm going to be the one writing the offer or receiving the offers, negotiating the offers, giving you suggestions on what I think we should counteract if this offer is good or not, vetting the offer, making sure that the lender is doing their job right. So you are working with one individual agent. You need to make sure that person has experience and knows what they're doing, for sure. But I think that, for the consumer, if that agent is doing everything, then they're doing for sure.

Speaker 1:

But I think that for the consumer, if that agent is doing everything, then they're spread really thin. Yeah, and they might not have. They might not have, um, you know, they might just be spread too thin and, for example, since we've been sitting here, a social media post has gone out. I didn't do it right. Yeah, I have contract, I have homes under contract. My transaction coordinator sent out, uh, condo docs to my buyer, the agent, the title company, so those things happen, right, and obviously, like we don't want to bash new agents because you have to get to that point, right. But I think that, um, I think that whether it's a team of 100 or 20 or whatever, yeah, you're going to be working individually with one agent and you have to make sure that that person's competent, right, but it is a bonus for you as a consumer for that person to have some admin help, For sure, because they're not spread too thin, they can focus on what they're supposed to focus on. Yeah, and you know it can be smoothed out.

Speaker 2:

Yeah, there's something for like having like somebody's undivided attention, because my transaction coordinator is way better at transaction coordination than I am you.

Speaker 1:

Are you more buyer heavy or more listing heavy right now?

Speaker 2:

Right now both. Right now I'm balanced, but for a long time like a buyer, heavy for sure, right.

Speaker 1:

Okay.

Speaker 2:

So what's happening? I mean I think that some people are getting scared right now, I mean with what's going on in the DMV. I mean especially in the DMV right, because, like New York, atlanta, they're not getting affected with these. You know some, I think a lot of government people are scared to lose their jobs. Yeah, Right.

Speaker 1:

Do you have any clients? That is happening to you.

Speaker 2:

No, not, not, no, the clients, no, but but on the seller side, right, like, I feel that there's going to be some homes coming on the market because of that, right, like, like, this is just the beginning. This is the tip right like, of the, of, like the, the, the iceberg right now, right, expound on that. What do you mean? Well, I'm just because, like, the cuts are being made right now, right, uh, things are being negotiated. Right, some people are going to take some pay, that the payout, right like, uh, there's, if I'm not mistaken, like a, uh, you're like a judge blocked like the firing of some people Like so, and that's that's like local, that's like the DMV, right, and, whether you're DC, maryland, virginia, people, that the government here is like it helped, you know, helped, has it's helped us. I protected our economy for a very, very long time. Right Right now, I think that we're at a disadvantage, right, like, you're you, you have to be cautious about that.

Speaker 1:

Yeah, that's interesting because our, uh, our market, the thing was all, the DC market is never going to crash.

Speaker 1:

We have the government here, we're super safe. People are going to keep their jobs. And now people are. Some people are getting fired, right, the lower people that yeah, this is what you're talking about is. The Supreme court said you have to rehire these people, exactly, right. So they made them rehire these people. And then a lot of people are going into the office five days a week. And, uh, I have a buddy who lives in tennessee his company is in navy yard, yeah, and he now has to go into the office five days a week, yeah, and he's like well, how can I, how can I do that?

Speaker 2:

I have a friend that bought really far out and I think they have to, like, go all the way to maryland they were, you know they were. They're working from their computer right at home. So now they're going to have to go to the office. So you know, that's going to affect a bunch of things, right? So I'm not saying, listen, I'm not worried about it, right? I think that the, the DC market is, you know, is pretty strong, right? Like, uh, I'm not worried about it, but it's just something you have to, like. People's needs are changing.

Speaker 1:

We're gonna have to, you know, again, have to be cognizant of that right yeah, pay attention to that so let's, let's, let's, uh, let's get your opinion on this myth really quick. Yeah, right, or maybe it's a myth, maybe it's not a myth, right, we're approaching the spring market. Yeah, is this the best time to sell your house? Why, or why?

Speaker 2:

not, yeah, for sure, I mean like it during the year, what's the best time to sell? Yeah, I would say the spring market, for sure. I mean like during the year, what's the best time to sell? Yeah, I would say the spring market, for sure. Yeah, well, you know, it's people like this is when people start looking the most. Right, like, uh, my januaries have been super hot, like on on both sides, like buy and sell for for years, right, like, so I've had like very strong januaries, right and februaries, right, so, uh, but yeah, I have, you know, several listings that are coming up.

Speaker 2:

Uh, like now, you know, and that was on purpose, right Like let's time it for the spring market, right, so, um, so yeah, I mean I think that just people are looking. I think that if single family homes, a lot of families, like they'll there's a cutoff, right, there's like a that there's a summer lull, right, like it's towards the end of summer, like people are on vacation, they're trying to get their vacation in before, like, their kids go back to school, right, so I think that sometimes, like in the summer, I think that that kind of drops off for some buyers or they're like, oh, you know what, we'll just have to do it next year, right? Because I don't think that I'm going to be able to buy a home by the start of the school season.

Speaker 1:

Yeah, I think that's interesting. I would like to see the numbers. I should know the numbers right before I even ask this question. But I've ratified contracts on Christmas Eve. Yep, you know, I usually have a strong start to the year also. Yeah, the second quarter is usually cooler for me, for some reason. And then the third and the fourth quarter I crush. I always crush the fourth quarter also. Yeah, I don't think there's a real best time to sell a home. Yeah, I think that what we're saying is when do we think there will be the most buyers in the market? Right, and it's like well, the most buyers will be in the market March, april, may.

Speaker 2:

Yeah.

Speaker 1:

June, june, but also that's when everyone is considering getting their house ready for the market.

Speaker 2:

Yeah, for sure.

Speaker 1:

Yeah, and so I'm like well, is the best time to be in the market when the most buyers are in the market, or is the best time to be in the market when you're the best house in the market and there's nothing else for them to look at? Yeah, right, I think in the DMV area, the only time of the year that I feel is truly dead is august. Right, because people are going on that last vacation like you mentioned or a lot of schools starting august now too.

Speaker 2:

A lot of buyers just quit by that time as well, like if they're they couldn't find their house right like and.

Speaker 1:

But I'm telling you that's because it's kids yeah, and I think also thanksgiving has more of an impact than christmas does too. You think so yeah? Yeah, because you gotta sit down and eat.

Speaker 2:

Yeah, I love. I love working with buyers and, you know, thanksgiving christmas, I love getting deals done around there do you feel like it's uh more for them? Yeah, I think it's easier to negotiate. I mean, like, like I said, it depends on the buyer. Some people don't have the flexibility to do that right, like, if you have kids, I'm gonna have to change school districts, like you know. I don't have kids right now like you do. Which problem? But do you?

Speaker 1:

have any kids?

Speaker 2:

no, I don't have okay, but but I'm saying, what about you like?

Speaker 1:

yeah, if you're gonna, you know, change like uh, say, in sept, october, november, right, like you got to think about, like it's, it's a, it's a whole ordeal moving, yeah, you know you know it's funny, I think it's my wife is way more sensitive to stuff yeah, uh, stuff like that than me, because you know, you know it's funny, I think it's my wife is way more sensitive to stuff yeah, uh, stuff like that than me, because, you know, I have three boys. And if it was like, hey, it's october, november, we buy the house, like, let's rip the band-aid, go to a new school, yeah you'll, you'll survive this is part of life.

Speaker 1:

Yeah, but my wife is way more. Um, you know she wants them to be comfortable. Yeah, she's, she has the routine, you know, and so she would actually be the person who's trying to halt the home buying thing or selling her home. Actually, when we moved from DC to Fredericksburg, it was April and I was like let's go, it's time to go.

Speaker 2:

So what happened?

Speaker 1:

What happened in DC? Did they finish the school year in DC?

Speaker 2:

No, they didn't finish the school year in DC, oh really.

Speaker 1:

She really wanted them to finish the school year in DC, but we had to get out of there, and so we got out of there, but she was really upset about it.

Speaker 2:

Yeah, she was really upset about it, and that's what I mean. That's kind of what happens. Like you're a yeah, I'm I, and I think it's probably our business, right, like we, we have to be, we have to accept change, right, like it's just, you know, I just came to this realization that I have to be, I have to accept change as a human change is going to come. I got to be cool with it, right, the people that fail are the people that just cannot, cannot go with, you know, cannot accept the change, right, like I think you and I are probably a little you know. Yeah, let's say risk averse, right?

Speaker 1:

not, that's what I'm saying I'm pretty, I'm pretty risk averse.

Speaker 2:

Risk averse means no, we're down to take risk. Yeah, no, that's when you're not down to take risk. Yeah, I'm like. Well, I call, take some risk. I say I'm with the shits, yeah, yeah yeah, man, like I mean, listen, what happens if, like banks, banks stop lending? Right like like they did when I was a kid? Right like, well, what happens then? Right like it, you know it's gonna be rough for us, right? Oh, like it's, it's a, it's a, it's a tough business, right?

Speaker 1:

I mean, I think you have to be a tough person to be in this business, you have to be yeah, you have to be a tough person. You have to, you have to be able to deal with stress. I say all the time is like I have to be a tough person, you have to be able to deal with stress. I say all the time is like I have to deal with my life and my family and everything, and then I have to deal with three or four other families' lives at the same time. Right, so there's always high pressure on you 100%, even if you know how to handle it, right. But I think it's important how you prepare people in your systems and processes. Yes, so how do you prepare your clients? Like, say, someone wants to buy a house, they hit up Vic. You know, um, what's that first conversation like with you?

Speaker 2:

Well, I try to look at it from, like, uh, from looking from from the, you know, flagging like a hawk, right, you got to see the whole. You have to see the big picture, right, you know, and I ask a lot of questions and I don't want to get too personal but, like you got to understand a little bit of you know, their finances, how much money that they have. You know where are they going or where they work, are they going, do they have to commute? Do you care about the school system? Right, and and probably just just look at something that they they may not even consider, right, talk a lot, ask a lot of questions.

Speaker 2:

I think that that's the best thing as a talker Sometimes. That's, you know, it's it's knowing when, when the hell shut up, right, like I, I try to shut up and let them tell me and then tell them, like, what you know, you know what I, what I think you know. But you just got to take, take it's a big picture, kind of just seeing what you know, what's going on with their lives, what they need, and you know you got to do that with what they're buying or selling, right, like what, what, what situations can arise from it Right? So ask some questions, man.

Speaker 1:

Yeah, yeah, yeah. I'm the best. I'm the best at preparing the buyers right now. Yeah, these headphones is a different experience, dude, it's like a little distracting. I'm not going to lie. It's like I can't think as well as I usually could.

Speaker 2:

I'm not myself, it's a different guy in here, it's a different vibe in here.

Speaker 1:

I don't know if I'll do it again or not. He's loud, right, Am I loud Brosnan?

Speaker 2:

I'm just kidding, I'm kidding.

Speaker 1:

Brosnan's, like I'm telling you he's too loud. Am I loud in your headphones? No, no, no, we're both loud. What about? No, I'm just kidding. All right, let's break down some more myths, right? All right, so you must have 20% to buy a home.

Speaker 2:

Technically. I mean, it depends Like sometimes you can have if you're in the VA, let's say, go 100%. I would say try to have 3.5 for an FHA loan, 5% if you can, but if you can't there are 100% loans. They're not the best. They're not the best 100% financing unless it's like VA but say 3.55. I suggest 6% um, well, yeah, well, I mean that's. We're talking about the loan, right?

Speaker 1:

not the closing cost oh, we're just talking about down payment. Yeah, asking price is non-negotiable. What's that? Is asking price negotiable? Everything is negotiation, everything. Everything is what's your inside the deal? Negotiation like what have you? So I I feel like I'm better at negotiating inside of the deal. Okay, like with home inspection, appraisal, condo oh, okay, and I am outside of the deal okay, yeah so I like to lock in price and terms and then just go go shark inside the tree.

Speaker 2:

Yeah, yeah, no, for sure, for sure, yeah, but I mean like first steps first right.

Speaker 1:

What do you think about open houses? Do they sell houses or no?

Speaker 2:

I tend to think that yeah, for sure, I mean they help. I think a lot of open houses they help the agents more to sell the house. But I've gotten buyers that walked in and they really like the house and they either you know they contacted their agent or you know I helped them out. So I yeah, I mean I've sold houses at open houses so I can't say no, but uh, but yeah, I think a lot of agents do it more to to help themselves in the open house.

Speaker 1:

I tell sellers that there's a you know, I'm sure there's a real number, but I tell sellers that there's like a 1% chance of your buyer actually attending your open house. And I tell them that the buyers that are purchasing this property, that are ready, willing and able, are working with agents already and some agents. Now I'm at the point where I can send my client to an open house and they'll come back and say like, hey, you know, this is what I think about this house, but more than likely I have to go in. You're going to sell your house from a showing more than an open house, and an open house is sometimes an agent marketing tool.

Speaker 2:

Right, exactly.

Speaker 1:

I have one more question. I closed my computer because I thought I had it. You know what I mean Zestimates. How are you handling Zestimates and online….

Speaker 2:

The online pricing Assessments with sellers.

Speaker 1:

If someone says someone says hey, zillow says my house is worth 750 and you know it's worth yeah, you know it should be listed at 699.

Speaker 2:

Yeah, I mean I, I did. I don't even pay attention to that, to be honest with you. I mean I, I see it, but I mean I just I do. I run my own numbers, I trust my numbers and how do you talk a seller through that at the kitchen? I mean, we just got to show. I mean it's the data is there for you know, most of the time right, like if you're, especially if it's like a with a community that has had a lot of transactions, you know, it's the, the figures are there.

Speaker 1:

I'm going to, I'm going to a house after this where I I'm about to have to break down the digit.

Speaker 2:

I take some of my sellers to, to the houses that are on in in the area you know and and show, sometimes like if it's somebody that's a little bit, oh no, I think that my in my house is you know it's more. You know it's nicer than it actually is right or or worth more than it actually is yeah take him to some. Take him to some houses or anything, yeah yeah, do you think?

Speaker 1:

is there a neighborhood or city that you think is uh developing or um? Home prices are going to grow uh a lot and buyers should get in there I think manassas, oh okay I think, you know, I think a lot of like I.

Speaker 2:

I have some people that have said like I don't think, I don't like manassas and like I just don't show me houses in manassas, right, but like uh, but I've I see some homes and some of us so some potential, a lot of houses in manassas, right, but like uh, but I've, I see some homes and some some potential, a lot of houses of manassas. For some reason. I think that that manassas is has a like a little bit of a negative stigma to for for a lot of people, you know, but you know a lot of things are like two silos. Is there, like there's, you know it's close enough to like the has some breweries there is close enough to things. I think that I think manassas is gonna be and I love Gainesville and Haymarket.

Speaker 1:

You know what's funny? I feel like Manassas keeps getting jumped over a little bit right.

Speaker 2:

Always.

Speaker 1:

Because I don't love Manassas Me neither. I'll be honest.

Speaker 2:

I don't want to live there.

Speaker 1:

But like Dumfries has Potomac. Shores now Right has you know it's like woodbridge. If you first time home buyer, you know you want to buy a townhouse. And then western prince william county is growing and manassas is still like a little run down, yeah, yeah and dump freeze is now getting potomac shore, so it's developing and so manassas does have a weird stigma.

Speaker 2:

I also saw it has like a richmond highway type stigma, yeah, but but I do see some. Yeah, I think I I read somewhere that it's like the fast is growing. I don't know if I you know. I don't know if I you know, I haven't seen the numbers, but, like you know, I don't know if that's true, but I can definitely see you know how that can change really quickly. They're building some decent communities out there. I'm telling people to come to Fredericksburg because right now I love Fredericksburg, you love Fredericksburg. I really like that, for it's growing.

Speaker 1:

I mean a bunch of starbucks popping up left and right, yeah, I feel like I feel like you buy a house of fredericksburg you I mean for 600 right now you can get a four bed, three and a half bath, 3600 to 4000 square foot house.

Speaker 2:

Yeah, I think the upside of that property is going to be way higher um than a house in like fairfax I think yeah, amanda and I were talking about, and if I were going to make, make an investment, I'd probably it. It probably would be either like uh, pg or um or freshberg.

Speaker 1:

I like it down there well, if you need an agent at freshberg, if you don't want to drive, down I know this one. If you don't, if you don't want to write the nvar contract, all right, we can get you out of these headphones. Kind of threw me off a little bit, you know um any last words. Oh, I do have a question for you. What do buyers, what do home buyers and home sellers need to know about the real estate market right now?

Speaker 2:

huh, man, it's consistently changing, you know. Be up to date. Get the most. An agent that's well. First of all, do an agent that's doing a lot of transactions right, because if, if your agent's last transaction was three months ago, it's a big change from three months ago to today. So choose an agent that is, you know, consistently doing work right, or or you know you could, you know, be step behind I like that.

Speaker 1:

Get someone that's in the game, because then they understand the new ones for sure. Don't get your cousin.

Speaker 2:

Get me. Where can the people find you? Yeah, it's Crealis Real Estate on Facebook and Instagram and crealishomescom Vic is in the game, bro, thanks for joining me. Thank you.

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Nick Bush

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