Hello everyone and welcome to another

episode of selling Greenville your

favorite real estate podcast here in

lovely Greenville, South Carolina I'm

your host as always Stan Mccune realtor

right here in the Greenville area you

can find all of my contact information

in the show notes if you need to reach

out to me for any of your Greenville

based on real estate needs and just a

reminder as always, please like, rate,

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and sure that you won't get any

episodes that fly under the radar that

you miss today we're going to be doing

something I have never done before on

the show I have done individual

listener questions before but today we

are doing a mailbag episode or what some

people would call Q&A where I

actually solicited questions from

several of you I got some really great

questions some that are funny tongue

and Chic I'm going to answer those as

well some that are more serious and

and like I said this is the first time

I've done this so I'm excited about

this and I hope we can do some more of

these sorts of episodes in the

future but basically I'm just going

to run down several questions these are

not in any particular order but I'm

going to go through several questions

and and answer these as we go so

we're going to start off with a YouTube

question from Down Under

drover down under drover ask this is

actually in response to my episode a few

weeks ago where I discussed the National

Association of realtor statistics which

indicated that the real estate market

is being led by Millennials and Boomers

down under drover wants to know where

did Gen X go to well down under

drover that's a great question now I did

in that podcast address Gen X but I

will readdress it here Gen X has two

very unique things when it comes to

their impact in the real estate market

one of those things is that first off

they're not a particularly large

generation in in a lot of ways like just

in terms of the number of gen the the

from a population standpoint Gen X is

not the largest generational group

that we have had and so that has

obviously depressed some of their impact

in the market but also Gen X I don't

have the exact dates that they were born

I think it's roughly 65 to 85 something

like that 1965 to

1985 Gen X kind of came of age at a

very strange time right they went

through a recession around the year

2000 the.com bubble a lot of them were

in the workforce at that time so if they

were involved in a a technology space

they were impacted then and then less

than a decade later they went through

the Great Recession that really crushed

them and then here they are you know

after going through basically two major

recessions in a decade span and the

Great Recession obviously lasted into

you know basically the middle of the

2010s that just really really crushed

Gen X right because that was when they

were would have normally been at the

time of starting families buying larger

homes things like that and so they were

really set behind in a lot of ways

unfortunately, and you know a lot of

people like to make fun of all these

different

Generations I don't necessarily I I

think that Gen X just got dealt a bad

hand and I'm an what considered an older

or an elder Millennial my generation

was Delta bad hand as well and we

complain about that a lot but I

really think that Gen X was dealt an

even worse hand the the difference is

that in addition to all these things I

just described Gen X also missed all of

the internet stuff right so unless they

were in the technology space and like I

said those that were in the technology

space a lot of them got crushed in the

early 2000s but unless they were early

adopters for technology a lot of them

are not as involved economically in the

technology side of our of our economy

and so all of these things combined I

think has has just kind of caused Gen

X to not have the same impact in the

economy and the real estate market

and and some of that is based on data

some of that is based on speculation but

from the standpoint of Simply real

estate okay I had some angry the Gen X

people came out for blood on my

YouTube page about that podcast that I

did and I I think that that's

unwarranted because literally I was just

looking at data and so I would encourage

you if you're a gen xer and you're upset

that people are saying that millenni and

boomers are driving the housing market

right now you need to base you need

to redirect your anger because you're

you're basing it off of Vibes not off of

data and I don't base any of my real

estate takes off of Vibes unless I

just tell you that hey this is strictly

an opinion this is strictly what I'm

feeling anecdotally but that podcast was

not a Vibes based podcast I was just

looking at n data and if you don't like

that I'm sorry take that up with the N

take that up with the National

Association of Realtors all right Sheila

Smith asks how much are three bedrooms

going for now all right this is a pretty

easy one to answer in the Greenville

Market I'm not going to answer this

in the US market as a whole it's

actually hard to answer in the US market

as a whole but in the Greenville Market

if we look at April of 2024 which is

we don't yet have the May data yet

three bedroom homes in Greenville as of

April 2024 we're selling for 200 $85,900

that was the median for three bedroom

homes in Greenville 285,000 the median

for all homes was 310,000 so obviously

that was boosted a bit by homes larger

than than three bedrooms but if

you're looking for a three-bedroom home

you're looking to spend about

286,000 in the Greenville market right

now Ian McCormack ask longtime listener

of the show what are the headwinds you

foresee for the Greenville Market I have

a few things here first off pretty

much everything in Greenville comes

back to affordability right because a

big reason why people move to the

Carolinas or stay in the Carolinas is

to have what they can get in other

places right those big city amenities

but at a cheaper price that is what

Greenville has Greenville has basically

everything you can get in a bigger city

but at a cheaper

price so the higher prices the higher

mortgage rates go up the more that hurts

the market here because that is a

fundamental selling point of our market

right people don't go to New York or San

Francisco because prices are so

affordable in New York and San

Francisco people don't go to rural

areas simply because of affordability

they go to rural areas because they want

to be out in the country generally

speaking but Greenville people come

to Greenville in large part because of

affordability that is a huge selling

point and already I'm hearing from

people relocating here from more

expensive areas that they're surprised

that Greenville isn't as cheap as they

thought and there's a lot of reasons

for this and and all of these contribute

to to the headwinds one I talk about a

lot is nimbyism right people that want

that say that they're okay with

residential development they just don't

want it in their backyard nimi spells

not in my backyard listen if we don't

build then housing just becomes more

unaffordable that's the reality of the

situation here's here's the hypocrisy of

of those that are nimes that want to

stop residential development in their

area is that they're not trying to stop

commercial development commercial

development brings more people from the

workforce right you commercial

development offices retail restaurants

things of that nature that creates

people that that creates jobs in an

area well those people working those

jobs need a place to live and if they

don't have it again that increases

the the cost of living in the area and

that just causes more affordability

issues

additionally another Factor here is

investors the past few years because

of mortgage rates being where they are

haven't been able to afford to purchase

rentals and long term this will result

in the cost of rent going up we haven't

seen that yet because we've had enough

Apartments being built that the

cost of rent hasn't been impacted by

the unaffordability of rental properties

but for those not wanting to live in

an apartment you're going to see most

likely in the very near future rent

for single family homes being a lot less

affordable another headwind in

addition and again these are all tied

back into affordability property tax

increases both as a result of inflation

and as a result of government increases

so we already have a mechanism whereby

the county and the state are able to

increase taxes simply by reassessing

which they do after a sale and which

they do I believe every 5 years if there

isn't a sale but they're pretty

conservative on reassessing every 5

years really the big assessments

happen after a home is sold they

reassess it and and change the value

of the property which then causes it to

become more expensive property taxes but

also we've had Mill increases in

recent years and this is gaining more

and more traction and so as property

taxes increase that obviously hurts

affordability as well and listen there's

a lot of discussions being made right

now about how do we bring in more

Revenue in order to take care of

infrastructure issues in Greenville

which I'm about to get to in a second

here and property taxes seeing

increases I could 100% see that

continuing on both fronts obviously as

they keep reassessing there's going to

be more just organic increases that

way U but I could totally see them

trying to increas those millage rates

even further in order to see greater

property taxes increases across the

board another one homeowners insurance

increases this is all all over the

country the Carolinas so far has been

pretty relatively speaking immune to

this in comparison to the states around

us but I think it's only a matter of

time before we start to see some really

shocking homeowners insurance increases

all it takes is one more big hurricane

to come through our state and it's going

to happen and so that's something that

I'm I really am on the lookout for and

am really concerned okay what's going to

happen with home miners Insurance what

are we going to see on that front and

again comes back to affordability

everything comes back to affordability

now the one thing that doesn't

inherently come back to affordability

but does indirectly is what I just

mentioned which is infrastructure issues

that is another major headwind because

people come here they want it they want

Greenville and the people that live here

they want Greenville to continue

continue to be a nice area well guess

what if you've got infrastructure issues

and the one that comes up the most are

problems with our roads they don't

have enough money to pay for the for

fixing the roads currently which is why

we're now introducing a penny sales tax

in order to help to pay for the roads

listen that's a problem people don't

want to come here and and they won't

want to come here if the infrastructure

is falling apart people won't want to

stay here if the infrastructure is

falling apart and so if our local

government doesn't get out in front of

this soon we're going to have problems

on our hands very very quickly and

that's why I came out in favor few weeks

ago my podcast for voting in favor of

the penny sales tax Eric Mitchell

realtor in my office he ask boxers or

briefs all right so I told you there

would be some funny ones in here boxers

or briefs and my response is why not

both right boxer briefs makes it to

where you don't have to choose right why

do you why why make up a false Choice

when you can literally have a hybrid of

the two now

my personal opinion is that you

really can't go wrong there really isn't

u a wrong answer to this question

regardless except for one thing and that

is Whitey ties or tidy whes I've heard

them both ways those are out of the

question those are not acceptable in

2024 if you're wearing Whitey ties

you need to see the light

there are other forms of briefs that

that don't look like that and that

and you just you shouldn't be in 2024

wearing wety ties I'll just leave it at

that so that's my answer to that

question David Sutton asks who have been

your favorite clients and why is it the

Sutton you know what I'm going to

entertain this question it is the Sutton

because they have referred clients to me

and that is really the the quick way to

my heart as a realtor is if you refer

clients to me you will always be loved

by me and so David and

Alyssa you guys are beloved clients

of mine a you were great clients and

have been great clients in multiple

times that I've helped you but you

have referred business to me you have

given the good word for me to other

people that have ultimately use me as

their as their realtor and for that I

am indebted and I greatly appreciate

that and that is why you guys are my

favorite clients Willie Warren King

asks rent or buy okay now I can't answer

this for everyone right and I'm not

going to give the realtor answer that

it's always best to buy there are times

when renting obviously makes sense and I

mean really let's be realistic here

almost everyone has had to rent or has

to rent at some point like renting

there's nothing evil about it I'm not

going to be want again I'm not going to

be one of those realtors that that makes

it out is renting is this big evil but

that said there is a massive wealth gap

between those who own their primary

residents and those who rent I was

looking at the numbers recently I don't

have them in front of me but it's huge I

mean that there is a a clear delineation

between those who rent and those who own

their primary residents and and how much

wealth they have now you can get into

the whole correlation versus causation

debate but I'm not sure how relevant

that is in other words even if you make

the argument that home ownership isn't a

path to wealth wealthy people obviously

know what to do with their money and one

of the things that they do is purchase

real estate and one of the things that

they don't do is rent where they live

now I've mentioned this on the show

before that Warren Buffett once said

that he would have saved money renting

versus owning his primary residence but

that he didn't purchase his home to

build wealth he purchased it to build

memory

can you make memories in a place you're

renting of course but what if the rent

increases to the point where you can no

longer afford it what if the landlord

sells the home and the new landlord

doesn't want you to live in there maybe

they want to live in there what if the

landlord stops making repairs or doesn't

make good repairs and now you're living

in a house that's falling apart or that

you have to now start making repairs on

behalf of the landlord etc etc these are

more the questions about renting versus

owning that I think are Rel relative

versus strictly looking at it from a

number standpoint at the end of the day

owning is about control cost control you

control your finances because now you

have a a 30-year fixed rate mortgage

without a landlord ready to raise your

rent each year you control what you

do with the home inside and outside

of it you control just like I just said

inside of it how the home is updated how

the home is maintained all of these

things it's about control do you want to

control

things related to where you live or are

you willing to take the risk of someone

else controlling a lot of those things

and that is why because it's in American

DNA that we like control that is why

Americans love to own versus rent now

there's one very very clear scenario

however in which I always recommend

renting and that is if you think there's

a possibility that you may move in the

next 24 months my opinion is that you

should rent and and the simple reason

for that is that even though real estate

values historically do go up over time

there can be down markets and a down

Market can happen very quickly and it

can last several years I mean it doesn't

normally last more than a year or two

but it can I mean we're kind of in a

down market now we've talked about this

before and we've kind of been in a

bit of a Down Market since mid 2022 it's

certainly a suppressed market right

there is demand being held back by

you know what's happening with mortgage

rates and and all of

that and so it's Risky Business it's

very risky business if you know for a

fact that you're not going to live in a

house for more than two years to go

ahead and purchase it because the market

could shift you could find yourself two

years from now being underwater on

your mortgage or are unable to sell

being locked into keeping that house

because you would have to bring money to

the closing table in order to sell and

there's just no way there's no way to

predict exactly what's going to happen a

year from now two years from now I've

tried doing it economists tried doing it

we're always wrong in one way or

another and so the only way to

ensure that that doesn't happen if you

if you buy your house or if you're if

you're looking to buy make sure that

you're planning to live there for a

while maybe

you won't find yourself in this

apocalyptic situation I'm talking about

maybe you will find yourself in a

scenario where two years from now your

home has gained a ton of value certain a

lot certainly a lot of people lately

have found that and that's a great

problem to have but you might not you

might find that you buy and then two

years later your home is worth about the

same or perhaps even less than what you

bought it for depending on what happens

in the market we don't know and so if

you're if you're temporarily if if your

if your living situation is up in the

air and you think in a year or two you

might have to move I would recommend

renting Katherine gushu asks Kendrick or

Drake all right some of you won't get

this probably most of you will all

right here's what I have to say about

this traditionally I do not listen to

music that has words in it that I am not

allowed to sing along with and if you

know you know Kendrick and

will say things that under no

circumstances am I going to be just out

walking around downtown Greenville

singing those lyrics so traditionally

speaking these are not singers that

and and artists that I'm going to be

listening to Simply for that reason I

like to be able to sing along on some

level with the songs now that being said

I do still have an opinion on this and

my answer is Drake I am not now I I know

the there was this whole like Dis Track

thing going on between K Kendrick and

Drake a few weeks ago it is what it

is apparently PE people that are

more into this than I am think that

Kendrick won listen I don't care about

that for for starters but regardless I

don't like Kendrick's voice like I'm

sorry that that style of hip-hop rap

voice just doesn't resonate with me so

give me Drake I'm going Drake all day I

don't care what happened with the whole

diss track thing

Caitlyn Marcel asks what are the

differentiators between the South

Carolina Upstate Market versus the rest

of the US real estate market year to

date very surgically precise question

there all right few things here not

going to get to In The Weeds we talk

about Market stats a lot here so one

South Carolina is one of eight states to

see 60% or greater appreciation the past

four years some other stes that

initially saw big appreciation like

Texas have cooled down in the past two

years I've got a little a little

chart here actually I should have pulled

this up earlier give me one

second all right here we go if you're

watching on YouTube you will be able to

to see this and my disclaimer as I've

said a few times recently that now

YouTube has an audio version for the

podcasts if you or if you if you

find my channel Selling Greenville pod

you've just got to do a little bit of

extra work to find the video all right

so here we go I'm I'm showing up a

graphic there are eight states that the

past four years so between this graph

specifically between March 2020 and

March 20124 there are eight states that

have seen 60% or greater appreciation

during that period of time South

Carolina is one of the eight states I

find that very interesting the lowest

State on here in case you're wondering

in case you're you're listening not

watching Louisiana 22% there aren't

any states that have have had a decrease

in real estate or a depreciating

Market the past four years but South

Carolina is sitting right at 60% the

highest one on here interestingly is May

is Maine at 68% so I find that to be

quite interesting here's another one

for you Caitlyn I would say

inventory is pretty close to pre-pandemic

levels here in the upstate market now

most of the country believe it or not is

actually still well below pre-pandemic

levels of inventory although I need

to caveat that with most major areas

are well above pre- pandemic so here's

what we're experiencing most major Metro

areas are seeing inventory soaring like

San Francisco for instance like New York

City seeing some major increases

in inventory from what I've seen in

some data points and sometimes it's

based on specific counties or specific

Burrows or what have you but

generally speaking that's a good rule of

thumb but Countrywide you know most

of the country is not in those major

Metro areas and Countrywide is still

seeing a lot of inventory

numbers that are still below pandemic

level so I'm going to share another

little graph here, here we can see see

the weekly available in inventory and

you can see if you're watching this

video that 2024 is still well below

what 2017 through 2019 was so that is

something on a meta level in the US

that we're seeing but contrast that if

you're if you're listening to this

listen to last week's episode where I

talked about the market stats inventory

in Greenville is really really close to

what was pre pandemic so we're we're

either at or really close to what we

what we saw inventory wise pre-pandemic

which is a difference than the rest of

the country here's another one for

you Greenville let's talk about

affordability Greenville is still more

affordable than most of the country the

median average priced home in in that

sells in Greenville is 310,000 and

that's the greater Greenville area

that's not just Greenville proper

versus the rest of the country it's 400

20,000 so Greenville is substantially

cheaper 420,000 versus 310,000 in

Greenville that is the difference in in

the cost of the median-priced home in

the US versus our Market here that's a

substantial difference I mean you know

that's a a 30 basically a 30% increase

so that's that's a a major thing to

to

consider and then one more thing for you

Caitlyn a larger percentage of

construction than normal is devoted

towards rental properties here in the

Greenville area this is something a lot

of people don't realize there's a lot of

angst about construction and

development in Greenville right now but

guess what a lot of the construction you

know people tend to get upset mostly at

all of the the housing communities being

built to sell to people but we have a

ton of housing being built simply to

rent and that's not necessarily A Bad

Thing I've had a lot of talks about this

on on the show how I am a yimby yes

in my backyard I want to see more more

development in Greenville smart smart

development not just all development but

building property to rent helps the

market as a whole it helps bring

affordability into the market as a whole

so it is still a good thing so I'm

not saying that this is a bad thing I'm

just simply pointing out

Greenville is one of the top 20 and I've

got another graph on here if you're

watching on YouTube Greenville is one

of the top 20 metro area housing

markets with the most build-to-rent home

completions as of 20123 so it's on this

list it's the list is Phoenix is number

one then Dallas Atlanta Austin Charlotte

Detroit Kansas City Colbus San Antonio

Nashville Jacksonville and then

Greenville and then after Greenville

is Las Vegas Pensacola Houston Orlando

acran Indianapolis Salt Lake and

Riverside California so that's a very

interesting list to me cuz there there

are some major major Metro areas on this

list and Greenville makes the middle

of of the pack and is over areas like

Orlando and Houston so we have a lot of

build to rent completions happening in

the Greenville market right now in

contrast to other parts of the country

all right Nick I'm sorry Nick I

always put your name catero I believe

is how I'm supposed to pronounce your

name longtime listener of the show so I

apologize I I need to figure out next

time we talk I'm going to ask you how to

pronounce your name Nick cinero he

asks home inspection and proactively

address the unknown before listing a

home or take a chance and let the buyer

inspect provide repair requests and

address what they ask for or a

combination of both okay if you're

selling a home do you have it inspected

and have things addressed prior to

listing it or do you wait until the

buyer has their own inspections and

comes along and then makes their own

requests here's generally speaking the

way I approach this I generally don't

think a seller needs to perform

inspections on their home there's a few

reasons for this one is that a buyer

might not do inspections to begin with I

run into this all the time not every

buyer does normal inspections and so

you might actually be be going above and

beyond what even your buyer would be

asking you to do additionally your

inspector might be a better inspector

than what the buyer has and here's what

happens once you have your home

inspected now you know a bunch of

material facts about that home now you

have to disclose those facts legally you

have to disclose th you know the things

that are wrong with your home if you

haven't addressed those things and so

generally speaking I say why do the

buyers work for then the buyer is still

going to have it inspected you know I if

I'm representing a buyer and a seller

provides an inspection report I'm still

going to recommend to the buyer that

they have their own independent

inspection done because things could

have changed since that inspection was

done by the seller who knows they might

not have done the repairs correctly

there's a whole lot of things involved

with that so I say let the

buyer do all that themselves now there

are some exceptions right let's say that

it's a house that is a luxury

home and we just we need to get out in

front of things because people are going

to nitpick the home when they go through

okay that could be a good a good

instance in which you want to go ahead

and have a home inspection, let's say

that you already know that there's a

bunch of stuff wrong but you're not

exactly sure what those things are

that's a good example to go ahead and

have an inspection done let's just go

ahead we're going to have to disclose

things anyway so let's just go ahead and

do this the right way the first time the

other thing that I'll say is if you know

of a very specific thing

have that very specific thing inspected

so for instance I flipped a house

recently where neighbor told me that

they had septic tank issues and so

I had my septic inspector come out and

look at it sure enough there was

something wrong with it it wasn't a hard

fix he went out he fixed it and that

that was that I didn't have to have a

full-blown inspection done it was just

an inspection on that specific thing and

that was that we addressed it and that's

something that I was able to include for

for the buyer to put their piece

at mine

all right Charlie Johnson asks now this

is this is the most Niche question I got

out of all of this and it's not real

estate related so I apologize but I'm

still going to answer because I love the

question he asks for a ranking of ston

Meer games okay for those that don't

know me well I'm a big board gamer and

one of my favorite board game

creators is called ston Meer games

they they do just a fantastic job of

creating board games and yeah some

they've cre some of my favorite games so

he wants me to rank ston Meer games I I

need a caveat there's several that I've

never played before I've never played

Red Rising pendulum libertalia

charterstone smitten between two castles

or between two cities I don't think I

don't remember ever having played those

I may have played one of them one time

but it wasn't noteworthy to me so

what I'm with that in mind I'm going to

go through the other ones that I have

played and I'm going to rank them

starting at the bottom with my least

favorite and my least favorite of the

ones that I played is rolling

Realms I'm I'm not here to make fun

of rolling Realms is is a cool little

game idea that he came up with that that

Jamie STM came up with during

the pandemic and it's it's just not

my thing I'm just not a big fan of it

my second from the from the bottom game

is tapestry tapestry

overly I felt like it was a little bit

of an indulgent game now it's a

beautiful game has some the the most

beautiful components that I have ever

seen in a game but it was just a little

bit indulgent to me from the standpoint

of just so heavy so many things to do

so many things to keep keep track of and

I like heavy games but that was just

above and beyond it just it just took

all the joy out of it next on the list

for me Expeditions which is the sequel

to S Expeditions I I like the game I

don't love it it's a lot of reading and

I do feel like that there are one or two

cards in the game that if you get those

cards you have a huge Advantage I feel

like that that is a bit of a flaw to the

game that being said I do still like it

I own it and when they come out

with expansions for it there's a good

chance that I will buy those expansions

and perhaps that'll make me like it a

little bit more next on the list worms

span this was a sequel of sorts

to the wingspan game worm

span similar mechanics to wingspan I

just have one really big bone to pick

with it and that is that wingspan, is

a game that is a basically an engine

building kind of worker placement Style

game they both are but wingspan has

is is great for me in that it has a

finite number of turns that you can take

during a round whereas worm span you can

increase how many turns you take and I

actually don't like that I I think it

just muddies water I think it makes the

entire game focused around just trying

to squeeze as many turns into a round as

possible I'm not a fan of that next

on the list my little side this is a

kids game and to me it's the best kids

game that I've ever played it's

phenomenal it's it's it's

definitely a more difficult kids game

but it's not that difficult and it's

fun for adults to play next on the list

Euphoria this is one of the older

ston Meer games I love it it's a very

unique game

that is challenging if you get

two good or two or more good Euphoria

players together really makes for a lot

of unique interaction and usually

comes right down to the wire next up

viticulture a wine making game I love VI

culture fantastic

game it it's it's a little bit long

right and it can it's it's very

challenging to teach to a new person

mechanically not that hard but just

strategy wise very difficult but it

it's it's just a lot of fun it's a game

that I really enjoy playing and the

expansions for that one only made it

better next on the list is sidee sidee

is the closest thing to like a video

game that I've ever played in a board

game it's a it's a it's a basically a

world that you're you know you're trying

to get territory control but you're also

there is a bit of worker placement

elements in it just a a a whole lot

of different elements to the game of

side it was one of the first heavy games

that ever played I still love it it has

a campaign mode I mean it has there's so

much that that game has to offer tons of

expansions really phenomenal game

next up I've already referenced wingspan

I from the moment I played wingspan I

loved it wingspan is really unique and

that you have an individual board and

you're actually you're you're you're

it's a kind of a deck building game but

not in the traditional sense you're

you're gaining cards and then you're

placing them on your board and then

those that in the process of doing that

you're actually upgrading your board and

that then makes your turns more powerful

in the future I love that and then last

but not least my favorite out of all the

stone Meer games is apiary to me apiary

it's a game based on the concept

that bees have evolved to the point

where they're now colonizing space, crazy

theme but I really like that it is

a worker place placement game where

all spaces are available it has a

bping mechanism that Euphoria also

has but apiary is one of the few

games that every single turn you have

something really great that you can do

if you want there's never just a turn

that's just wasted maybe the the last

turn if you've not set yourself up well

might be a wasted turn but there's

always something to do it's always good

there's nothing that can hurt you you're

only ever benefited by by anything

that you can do or that happens to you

in the game all right there we go that's

my ring of ston Meer games all right

Alden Simpson asks how will Buyer Agents

be compensated after the recent n

lawsuit okay so let's make one thing

clear buyer agent compensation didn't

change except that it can no longer be

advertised in MLS it can still be

advertised in other places and long

story short here's what I think I think

that probably about about 10 to 15% of

new listings are after the these

changes go into effect in August are

going to have much less commissions

being offered maybe no commissions being

offered to a buyer agent but guess what

Buyer Agents are still going to ask for

those commissions and and basically what

I'm hearing from Buyer Agents in our

area is that probably a lot of them

aren't even going to ask the listing

agent agent or the seller if they're

offering a buyer agent compensation

they're just going to send in a

compensation Form with an offer that

asks for the the seller or the listing

brokerage to compensate the buyer's

agent now I'm I'm I'm can't really

discuss how much you know actual percent

numbers or anything like that I just

personally think just based on what I've

seen and heard I think that really in

terms of the actual amount of compens

ation is not going to change a whole lot

from what we've had historically, what's

going to change is how it's communicated

and then how it's presented and so we

already have a compensation Form U that

we've had in the Greenville market for a

very long time it's only been used

traditionally for sale by owner

properties or properties where

people from a different area that aren't

a part of our MLS are using or or if

I'm working you know doing a deal in an

area where I'm not a part of the MLS

so like for instance Western Upstate I'm

not a part of Western Upstate MLS so if

I show a house out there I need to have

a compensation agreement signed by the

listing brokerage in order for me to

be compensated out there things of that

nature that form is now just going to

expand in terms of how it's used it's

going to be used for probably just about

every transaction I think that that's

a very real possibility moving forward

but we'll have to

see Amy Parsons asks you mentioned a

recent podcast about some CAU s for

candidates from a specific caucus how

can I found out find out what caucus say

a county counselor member or a state

house or state senator supports I find

it easier to get that information on a

national level here's what I would

recommend these these caucuses are

really you know they're kind of similar

to like the tea party it's not really

the Tea Party wasn't really a party the

freedom caucus isn't really a caucus

these are just words that are that are

being used to basically

differentiate some candidates from

others here's what I'd recommend go

to their website go find them on social

media and see what they say if they say

that they associate with a certain group

take them for their word if they

don't specifically identify a specific

group then then you can kind of

reverse engineer based on the things

that they the the platform that they're

running on whether they you know

might be

with of the mindset that they are

kind of a A Lone Ranger or not cuz

that's really my main concern with these

with these subgroups within the these

very Niche groups that are are running

for office is that they see themselves

as like a Lone Ranger that they that

they you know want to come in and shake

things up and here we go we're going to

you know get 20 or 30 of us together and

we're going to shake things up it's just

not going to happen 20 or 30 is not

enough to shake things up in the state

house and so look at all of those

things see what they say about

themselves see who they identify with

and you'll be able to find out a lot

by just looking them up online and

looking at what they're saying on social

media Richard Cox broker not my

broker but a broker with cedan Joiner at

the Augusta Road office he asked is a

hot dog a sandwich and I don't see how

you can argue that it's not a sandwich

right like is the fact are you going to

make the argument that the Frank fter

that you use for the meat that that's

not real meat or that you know a br

that that's not real meat there there's

a lot of meat that we put on a sandwich

that isn't real meat I mean like what's

what's pastrami like what's corn beef

you know things like that that are like

really popular in the Northeast that

you know maybe aren't as popular down

here I mean what about even like Euro

meat we're combining like beef and lamb

together like that's not real meat so

we're going to specifically identify hot

dogs and say okay that's not real meat

it's shaped weird I'm not going to

consider that a sandwich no it's meat

and toppings between bread that's a

sandwich and I don't care if you hate

me for saying that that is my take on

this now Richard followed that up with a

more serious question which is our final

question of today and that's what's the

number one reason why now is the most

important time to have realtor

representation I'm ending with this one

because some of you might want to bow

out they don't want to hear me tuning

realtor's horns and that's totally

fine but here's what I'm going to say

why why it's important to have

realtor representation right now as the

market has shifted in recent years it's

become more difficult for both buyers

and sellers okay it's not it's not

shifted one way or the other it's become

more difficult all around in real estate

buyers are facing the most unaffordable

Market in history sellers are facing the

most extreme shift in rates and

inventory in recent history and the

result is that a lot of the old Norms

are gone so if you bought a or sold a

house 10 years ago the market is

dramatically different now if you bought

or sold a house 5 years ago the market

is even more dramatically different now

and if you bought or sold a house two

years ago you'd be shocked the market is

dramatically different now than it was

even 2 years ago and when I say Market I

don't just mean you know whether it's a

buyers or or a sellers Market I'm saying

the entire process of buying and selling

real estate on the retail Market is

different and when I talk to the vast

majority of people not everyone right

not you know seasoned investors or

people like that but the vast majority

of just normal people who you know are

going to buy or sell four to five homes

in their lifetime and and who are

trying to go at real estate without an

agent it comes out pretty quickly these

people trying to do it it all on their

own without a professional don't know

how much things have changed since the

last time they bought or sold real

estate they'll start talking about how

when they bought their home last time

they were able to get a USDA loan but

they don't realize that their area no

longer qualifies for USDA loans because

things had changed they'll talk about

how you know when they when they bought

the seller had to fix something that now

a seller is no longer required to fix

they don't know what rate on it is they

think their closing attorney actually

represents them like a defense attorney

does without realizing that cloning

closing attorneys are representatives of

the entire real estate transaction and

they aren't going to defend you or

litigate on your behalf if you run into

a problem with the other party they

don't know what to do if they get a

low appraisal they don't know whether or

not a a home needs to be brought up to

code to sell there's just a lot of

things like this if if if I ever talk to

someone that's not represented by a

realtor very quickly things come out

that's like okay yeah yeah you don't

know this you don't know that etc etc

and and I'll mention this one as well

this is this is one I run into a lot is

not understanding how home values work

I had one person that wasn't

represented by a realtor who looked

at all the homes in their area looked at

what they sold for when they were built

and then looked at what they had sold

for the past year and then they took the

percent increase from when the home was

sold when it was first built and then

what it what it sold for most

recently and then they took that percent

increase and then applied that to their

own home to to reverse engineer what

their own home was worth that's not how

you determine a home value at all but

these are the types of things that that

you run into with people that are not

professional real estate people

they're not real estate

professionals now I'm not trying to make

fun of those people I'm not trying to

make fun of the general populace and

their lack of knowledge about real EST

St not at all but it is insulting when

someone who has done like something

three to four times in their life think

that they know as much about that thing

as a person that's done it hundreds of

times in their life I could give

instance after instance where I used a

negotiation strategy that got a seller

money that they wouldn't have been able

to get on their own even after my

commission I could give instance after

instance of buyers who got a house that

they wouldn't have gotten without an

extremely creative offer structure that

they hadn't and would have thought of

themselves or or or perhaps I was even

able to help them to buy a house for

lower than than they would have been

able to because I used a a unique

negotiation strategy just a whole lot of

things like that and and again I hate to

toot my own horn but but this I'm just

being honest with you guys this this is

the reality of the situation and you

know people that that think that they

know more than a real estate

professional to me it's it's not quite

this extreme but it's kind of like when

a person has a medical need and instead

of going to a doctor they try to self-

diagnose and self- treat themselves

because they don't like doctors or they

think that doctors charge too much are

you really willing to risk your health

like that and some of you are like yes I

am willing to do that well I am not I am

not that type I trust professionals now

you've got to ask the right questions

with doctors you've got to ask the right

questions with Realtors as well and

you know at the end of the day if if you

got a major medical need you need to

have a professional take care of that

don't self diagnose don't self treat

similar with real estate are you willing

to get less money selling your home and

and have it take longer which stats

clearly show is what happens in for sale

by owner situations are you willing to

take that risk or do you think that

you'll be the exception to the rule are

you willing to miss out on your dream

home because even though maybe you're a

skilled negotiator you know maybe you're

in sales you don't know how to

negotiate real estate I can't tell you

how many times I've had people that are

salespeople who tell me how they think I

should negotiate and they clearly don't

know what they're doing because

negotiating real estate is different

right it's a very personal transaction

you don't negotiate the same with

something really personal that you do

with something that's really impersonal

and so these are the types of things

that people don't consider when they try

to go at it on their own so I think to

answer your question Richard I think the

biggest reason is that that we're in an

everchanging Market we're about to have

real realter compensation related

things changing and people that aren't

Professionals in this Marketplace simply

don't aren aren't aware of that they

don't have their ear to the ground

they don't know all that's going on and

they're at risk of getting of getting

hosed in a real estate transaction if

they go it on their own so thank you

guys for the great questions if you

enjoyed this episode let me know

because I if you did I would like to do

more of these in the future I'm not

going to do them every month but

maybe you know once a quarter or you

know something like that so let me

know if you enjoyed it I enjoyed it

thank you for all the great questions

thank you guys for listening if you need

a realtor in the Greenville Market

please reach out to me my contact

information is in the show notes and if

you enjoyed this content, please rate,

subscribe, review all of those good

things and we will talk again next time