The Jon Sanchez Show
10/01-How is data analytics used in real estate
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You know, I tell you what, a little bit on the tired side, to be honest with you, it was a heck of a day today. It was just a really amazing day to experience watching rockets fly and intercontinental ballistic missiles and so on and so forth. And to see the market reaction, but I think most importantly, Kory, to really see market resilience. I mean, this was a day that we had every excuse to sell this market off extremely strong. And we had a couple intermittent periods, like down over 300, I mean nothing too severe, by any means. But the rebound came as quickly as the sell-off did. And I think we can clown our lucky stars that we finished the day with only a loss of 173 on the Dow. But it was a bit of a heart stopper, you know? I don't know, I was telling someone, it was like, I almost felt like going back to some of the previous wars and things that our country has been in. And something just tricks in my brain when I see these rockets flying. And it's a, I don't know about you. It's just like I said, a real bizarre feeling. How about you? What was your reaction when you saw all that happening today? It was definitely, and to see all that, you know, during all our daytime, right? I was just, you know, right around lunch, but I was watching it open and then all of a sudden, it just fell right off the cliff right at the open. So, somebody time to headline just absolutely perfectly and got everybody into the jitters and of course it's filtered. But hopefully it's just, you know, then puffing their chest out and that'll be it. Like they did last time I'll see. - Yeah, yeah, I mean, that's the big concern. I'm very nervous, of course, what's gonna happen, you know, overnight as far as the Israeli retaliation is concerned, and then of course, what that lays out for us tomorrow. But, you know, like Jason and I, we're talking today, Corey, it's amazing whenever we've seen situations like this and many analysts, of course, are saying that today really is much, much different than rocket attacks against Israel in the past have been, where there have been more drones and so on and so forth. And luckily, the ICBMs did not do any damage, at least they're saying that today. But they're saying this one is, you know, again, a bit on the different side. So, like I said, it's gonna be different to see, you know, the market reaction tomorrow. I think tomorrow will be a real test, obviously, depending upon what happens overnight today. But you're right, it was an interesting situation. And we did, we sold off very, very quickly once the rocket started flying. And I think that was, what was that? About seven o'clock, I think, somewhere around there, if I remember right. And then, like I said, we recovered pretty quickly. But, you know, what's amazing, Corey, and again, it's kind of a head scratcher. And like I was starting to say, Jason, I had a lot of conversations about this today, as far as our portfolio strategies. It's hard for us here in the US to get real concerned about it. And if you start to watch, I don't care for CNN normally, especially during, you know, political events like the vice presidential debate tonight, because obviously they're very swayed to the wrong side, in my opinion. But when it comes to, you know, global events like that, I think no one does any better coverage than CNN does. And you turn on the channel and you're seeing their reporter there, and all of a sudden, you know, they're obviously filming the rockets coming into Israel. And then the counter-attacks happening. And then, you know, the poor reporter, I forget what his name is, you know, the poor guy had to take cover, because Shrapnel was falling, you know, near around him. And it's just, you know, again, it kind of gets your heart pumping a little bit. But, you know, back to the market side of things, this market did not seem to get upset about. We saw a big spike in oil prices. You know, as I was doing the stock updates this morning, I mentioned over and over again, you fill your pump up, you know, go fill your pump up. Oil spiked over 5% of barrel. But, you know, when it was all said and done, it really didn't climb that much, about 2.4%. So once again, it was just a very interesting situation, you know, watching this thing unfold. And like you said, we'll see what tomorrow brings, but it was a bit of an interesting day. Let's just say that, a bit of an interesting day. - Absolutely, and it's funny if you look back on this, if you just were looking at the graph, if you look back on this day, if nothing happened because it was so kind of muted. - Right, right, right, right. Well, you know, and let's take it a step further, Corey. Then we throw in, when I'm saying this was a perfect day to have an excuse for a sell-off between the Israeli situation. And then, of course, the strike, the dock worker strike, you know, and Jason and I covered this in pretty good detail last night. It's, you know, this thing is significant, and it did happen as they anticipated it was going to. But once again, this market showed quite a bit of resiliency 'cause that one of the obviously is very new, just about the average analysts out there are saying, you know what, our country can withstand about a week of the work stoppage. And then after that, you know, it's gonna get pretty nasty as far as supply chain issues, the threat of inflation increasing, so on and so forth. But, you know, as JP Morgan stated yesterday, how their analysts there, you know, the price tag somewhere between three and a half to five billion dollars a day, it's costing the country for the strike. And so we'll continue to watch and see, you know, how long this strike continues and what happens there. But, you know, I just walked away from today with the closing bell and I'm getting the shake in my head saying, man, we dodged a bullet today. We really did. It was a very interesting day today, very interesting. - Absolutely. - All right, well, let me tell you what we have lined up for you this afternoon. So, you know, Corey's world is a world like mine that is filled with data analytics, right? We are throwing, let me speak for Corey. Then I'm gonna put some words in your mouth, Corey, because I know you so well, and then I want you to chime in and support me on this. But what makes you, in my opinion, one of the many reasons that you are such a success as a real estate broker, besides being a great guy, you thoroughly care about your clients, you have, you know, 25 plus years of experience, you have all of these great accolades. But one thing that I noticed about you over the years and, you know, I've known you about 15 years now, is you are data hungry. You wake up at three o'clock in the morning, you're scanning, the court filings, you're scanning, the MLS, you're putting in the work as the saying goes. And so, you're kind of, and again, correct me if I'm wrong, but you're kind of a data analytics hog, right? You love this stuff, don't you? You just, you love it. I hear the, I hear your, the inflection in your voice when you start talking about analytics. - I mean, I don't know if I call it analytics, to make sure it's boring old stuff, but I guess now it's the cool thing to do, but yeah, no, I do, I'm cutting the same cloth, get up early, dig around, peaceful time of the day, and you get a lot of work done. - That's right, that's right. Folks, you have no idea how many times Corey and I communicated, you know, four, four, 30 in the morning. So, I think we're about the only two people up around this place, but anyways. But this data analytics is exactly what we're gonna be talking about tonight, because here's what I wanna tell you. The next time you hire a real estate broker, and again, I don't know why you hire anybody other than Corey, the one key question that you should be asking this person is how do they use data analytics to determine the price that you should buy or that you should sell at, right? It's not just a gut feeling, oh, you know, I think your house is worth $625,300. No, no, no, no, no, there's methods to the madness that goes behind the pricing of a home. Again, I don't care if it's on the buy side or on the sell side. So what we're gonna do this afternoon, we thought this would be really interesting for all of you to kind of take you behind the scenes and enter the brain of Corey Edge, and go through basically about seven plus different areas that he looks at when it comes to data analytics, and start, you know, explaining to you what real estate brokers look at, the good ones like Corey, what they look at to determine the pricing. Because Corey, I think a lot of people don't understand too, when it comes to being a real estate broker, you also, you have a lot of power, not only, you know, from a licensing standpoint, but you have a lot of power, you know, like you've said before, courts will come to you for values of properties. Banks will come to you for values of properties. You'll give what's called the broker's opinion on things like this. So, you, you know, like our good friend Richard Lace of Lace Appraisels, you have to have the data to back up. You just can't come off the cuff and say, oh yeah, like I said, you know, houses were 620,000, you've got to have the data behind you. So, I am really looking forward to, you know, learning again from you, 'cause I don't think we've ever covered this subject, to be honest with you. You know, what are some of the steps that you look at to determine pricing again on the buy side or the sell side? - Yeah, absolutely. And especially when you get into courts and attorneys and those kind of things that you have to back it up, a person like Richard, and anytime he does a value, has to back it up and he big is much cheaper than even I do on some of those things. But it is a, you know, it's a something learned over 20 plus years of digging around and there is a little bit of, you know, we'll get into some more, but there is a little bit of gut feeling to it. I mean, you can get numbers, but you're-- - The Lartlessons. - What time of season is it? What is the snow coming? I got all these little things that you've just experienced over the last 20, 25 years. Like, okay, I know where we're headed here, so. - Right. Real quickly, have you implemented any type of AI in your data analytics as, you know, that's becoming more popular? I know Aaron has and things, but have you personally, are you still, you know, kind of the old school style? - No, it's kind of a trick question, right? In that I personally haven't put anything together where I'm using some fancy AI thing to do the work for me, but the tools I use to figure out I think something's worth or using AI analytics, if that makes sense. So, the beauty is there's way more information now than there used to be, but that's also a curse, 'cause there's way more information than there used to be. So, you kind of gotta look at it both ways. - Yep, that's a good point. It's a good way to look at it. All right, we come back. We're gonna delve deep into today's market activity, had a pretty good sell-off in a lot of major tech names, and we'll hit the bond market reaction to the missiles flying, et cetera, and the Iranian strike on Israel. All right, let's turn it over to Kristin Snow. She is in the right net traffic center. Hey, Kristin. Welcome back to the John Sanchez Show on Newstalk 780K, which is the core age of edge reality, and we have Mr. DeWightman Ludders synergy. When Lindy, welcome, my friend, welcome. - Thank you, John. I got a little bit of a cough, but thank you. Thank you for allowing BPF few minutes late. - We won't put it on your report card, I promise you. - There you go. - There you go. - Perfect. - There you go. Pass on this one. (laughing) - Sounds good. - Good to have you, buddy. Good to have you. Well, you know, Cory and I, of course, do I went through a lot of details about the market reaction today to the Iranian strike on Israel, and of course the longshoreman strike, and so on and so forth. And, you know, I'm so glad you were able to join us because obviously with the stock market doing what it did, which I need to mention to everybody, just feel to do that. I want to get over to the bond market side, 'cause you had about as wild right as I did today. So here's how we finished up on the equity side of things today. Like I said, we spent a couple times well over 300-point loss on the Dow, rebounding to only a decline of 173.41%, with the Dow closing up 42,156. Nasdaq lost 279, 1.53% to 17,910, S&P lower by 54.93% to 5,708. And if we turn things over to the oil side, like I said at our worst level, we were up about 5%, backed off of that, finished with a gain of 2.4% to 69.74 a barrel. Big day for gold, $30.90, rise, 2,690.30. And over to Mr. in a large world of the bonds, 10 basis point decline on the 10 year at 3.74. So Dwight, we definitely had a flight to quality today, indicative by, again, the strength and gold prices, the strength in the bond market, et cetera. So let's take it over to the mortgage side. What did you see going on today before you give us, you know, the rates? How volatile were the mortgage bonds and things trading? - Well, it was extremely volatile. You know, I watched the mortgage back securities and we were up, then we were come down, then we go up. And so at the end, you know, near the end of the day, we were, we'd almost given everything back we had gained. And then all of a sudden, right before a close, at mortgage back securities, we're up 19 basis points, John. So that's good. That's a good, I mean, that's a good ending for this. But yeah, you definitely saw the back and forth flight to quality. And you even got a four basis point decrease according mortgage news daily to 6.20. You know, still above where we were a couple weeks ago, but yeah, to your point, it was, you just saw the flight. You would see this holding pattern, and all of a sudden you'd see mortgage back securities go up or the 10 year, you know, then you're, so it'll be an interesting day, I guess tomorrow or, you know, I mean, you guys already talked about it, you know, but there's now a contingency plan now from Israel to go, you know, I mean, this thing's not gonna stop. - Yeah, no, no. What's gonna happen overnight and going forward? - Yeah, absolutely. The other thing I want to bring you guys into the fold of and definitely on your side, Dwight's back to the bond side of things. You know, obviously the longshoreman strike is Corey and I were chatting about before the break. You know, JP Morgan's analyst, and I think it's kind of the street consensus saying, you know, for every day, this strike last, you know, they're going on almost one full day at midnight tonight. It's gonna cost the economy between three and a half to five billion dollars. There's fear that if it lasts, most seem to think that it's only gonna be about a week, but if it lasts longer than a week, obviously we could see supply constraints and most importantly, fear of inflation, which could essentially derail the Fed's aggressive plan. Now yesterday, of course, as you guys both know, the market also got a surprise there when Jerome Powell, it is a conference that he was speaking at, indicated the Fed's really gonna only cut rates a half a percent for the rest of the year, you know, quarter percent each of the two meetings and that surprised everybody and made some concerns. So between, you know, potential length of the strike and then now, of course, with Jerome Powell said yesterday, Dwight, what's your opinion this point on people locking in mortgages, et cetera, because it seems like your sweet spot's almost gone right now and now you're back to kind of juggling some balls in the air saying, you know what, let's hope one of these balls don't drop because if they do, you can see these rates really begin to spike. - Well, you know, and Corey always says it, if you like it, take it and, you know, to your point, if you were looking at something last week, it may be a little bit more distant this week. So to your point, if you're okay with it, I think you have more of a riskier stance than I would protect it. You know, I mean, especially if you're, John, if you're 30 days out from closing or whatever you're doing 30 days or less, there's no sense in playing this out. You know, if you're four or five months out, then, you know, then you're, you know, you've got a little bit of time to see what this goes, but yeah, anytime, anything we call, you know, you know, a short-term walk, I don't think I'd, there's just too much going on to-- - Too much going on. - Just wreak havoc on everything. So, you know, you know, John, I know you guys probably talked about it, but it seems like that, the guy that represents those longshoremen, he didn't want to come to the table, it feels like, you know what I mean? I don't know how you're going to get this kid. He's a big dude. I don't know how you get to the table. And, you know, I mean, he just doesn't want to do it. And it's like-- - Yeah. - Yeah, you have no problem. - Yeah, I thought the UAW leader was a tough dude, and I think this guy's his brother or cousin, or something, it seems like he seems to be even tougher, at least at this point, but that's all part of the negotiation. Corey, jump into the fold here. - Yeah, I agree. You got a lot of different things revolving around, and even if they do get, I mean, they're asking, went the longshoreman 61 and 1/2% pay increase, which I'm not saying they don't deserve it, though it goes with their butts off, but that's inflationary in and of itself. - Sure. - It's got a lot of different things happening, and there's no way to know what outcome's going to come from any scenario there. So if you boil it down to your personal life, you're out shopping for a house, you find one you like, you get decent rates right now. Just lock it in, buy it, forget about it. If they drop a year from now, and they're five or 4% just refinancing, don't put yourself to the stress book. Kinda figure all this out. - The other concern that I had today was, and this started in the pre-market session, continued through, is we saw the major tech names also begin to weaken pretty dramatically. We finished the day down, let's pick Apple, 2.9% lost, down $6.79, 226.21 Barclays, suggesting the iPhone 16 demand a sluggish. So that affected that Dow component. You had the other Dow component, Microsoft in the tech space, losing $9.61, 2.2% to 4.2069. NVIDIA was down $4.44, 3.7% to 1.17. So again, it was a day that not only did we have all these other factors going on, but also, the tech was not safe haven by any means. So that's something else we have to watch very, very closely going forward. Had some earnings numbers come out of Nike, speaking of the Dow, it is a Dow component. And adding a chance to look in great detail of the report, but the numbers did not appear to be well, because the stock in the after hours is down about 4.19% right now. So we'll continue to watch that one going forward tomorrow. All right, when we come back, how is data analytics used in real estate? How's it used in the pricing that Corey utilizes, both on the buy side and on the sell side? Dwight will chime in what he sees as far as some of the usage in today's world. And again, we're not going to really get into AI. We know that's the ultimate data analytics, but what is it that Corey looks at to determine the price of your home? Both again, on the buy side, on the sell side, and the negotiation side of it, everything. It's all about analytics. And by these two gentlemen, know the data better than anybody. So we'll get that to you momentarily. But first, Greg Neff has news, traffic, and weather. Hey, Greg. Welcome back to the John Sancho show on new stock 780KOH with Corey Edge related to White Millard of CineG1 lending. We finished down 173 on the Dow, 0.41%. And as that gave up to 79, the S&P, lower by 54. I just checked the futures, by the way. Obviously, very early, they started trading right around three o'clock. Dow futures right now down about 87. All right, I do want to follow it very quickly before we get to our topic. I mentioned about Nike reporting after the close. The company, the reason the stock is moving down again right now down about $3.80 after hours. The reason is the company did beat on the earnings per share, $0.18 a share is what they reported, but they did fall short of revenue. Also, the company withdrew their full year guidance and said they were postponing their investor day, which had been scheduled for November. Quick reminder, are you 12 months away from retirement and wondering, what the heck is next? How do I do this? I'm in a critical window. Well, we got you covered. We want you to join myself and Jason tomorrow at, of course, 6.30 pm. That'll be right online. Go to our website. Why? Because we're going to be covering our 12 month to retirements. 12 months to retirement, everything you need to know in this crucial one year window. Thanks for medical and life insurance, Medicare, filing for Social Security, tax strategies, asset allocation, et cetera. All of the important things, again, that you got to cram into that final year before the magical time period of retirement. Just go to our website, Sanchez. Wealthmanagement.com, click on the live events tab, and then sign up. It's really that simple. No charge, no nothing. Tomorrow night, 6.30 pm, our 12 months to retirement webinar. All right, let's get to our topic. We got a lot to go over here. So real estate brokers like Corey use data analytics to really help determine property prices, right? Whether you're representing you on the buy side or on the sell side. There's a lot that goes into it. It's an art and it's also a science, as we said at the beginning of the show. So we're going to kind of cover about seven of the major areas that Corey will utilize, again, to help determine this. And Corey, this takes a lot of time. This is, I imagine, I don't know, if I looked at your 12-hour day, how much of it is that analytics versus actually out, either meeting, phoning, et cetera, with clients? I imagine it's got to be, what, at least a 30-year day? I would say that probably, and it depends on the time of year, the season. I mean, obviously, we're a lot busier with listings coming out of the spring through the summer, and that's when you get the bulk of that work, we're trying to figure out what things are worth. People want to know, you know, how are you, and why do you have the value? And what's going to happen in, on the winter time, the mission that? And so even in the slower months, I mean, somebody who's into it will still look at those things to try to figure out, okay, where are we at? Where's what's happening seasonality, why is everything kind of staying the way that you anticipate it being? So, yeah, it's just like you, right? Like, even if you don't have a client on the phone, you're probably watching the market, just to scan to what's happening. - Yep, absolutely. All right, well, let's start with our first data point, Corey, we'll, again, this is a very common one, but extremely important. That is comparative market analysis, better known as CMA. This is where you're going over the historical sales data, looking at comps, obviously, something that is very, very important. Adjusting for, you know, different types of changes to the models and so on, so forth. This one has an updated kitchen, this one maybe has a larger yard. What goes into the CMA side of analytics? - Yeah, this is the main one. I mean, this is, you know, you call me, you've got a house you want to sell, you give me the address, we look at it, figure out from the assessor site where it's at, how big it is, how big it is, how big it is, how big it is, how old, all those things. And so, the next thing I'm going to do is go to R&R. So, like I mentioned, you know, I'm not a super savvy computer guy. I don't build models. I don't ask some kind of bot that I've created to do all the work for me. But when we go to the MLS, they, it already has those things in it inherently, right? Because that's what Mona's computer systems are going to. So, by logging in there and looking at houses and looking at comparables, you're kind of quasi-using an AI model, you know, whether you're meant to or not. That's just how the world runs now. But we're going to zero down on the type of house you have, circle around the neighborhood, try to find something incredibly similar if we can. Obviously, for you own what I call a production home, something that's nowhere where there's multiple houses exactly like it on the same road or in the same neighborhood, it's not too hard to pinpoint in all value. If you're up in Monto, if you're in North Dakota string now, if you've got a super custom house, it gets a little bit harder because now we've got to get a feel for, okay, here's, here's what's happening in general under neighborhood. You have a detached three car RV garage, you have a basement, you have a swimming pool. Now, I've got to find things that have those amenities and try to figure out what people are wanting to pay for that amenity and come up with a number that we can both agree on that we think are feasible for the market. - So, here's a question I've always wanted to ask you on this and I've also wanted to ask Richard, never got around to it. All right, so let's say, for example, it's got that three car RV garage you just mentioned, okay? How do you assign a value of what you think, let's say you're representing a seller, how do you assign a value and say that, you know, the three car RV garage is worth whatever, 150,000 of your sales price, Mr. Client. How do you pinpoint that? And then, you know, you use that logic again for the swimming pool and the granite kitchens. Do you go, is it just your experience or your data that says this is worth X amount of dollars in the marketplace today? - It's, I mean, maybe there's a little bit of experience in there, but experience also is just code work for guessing, right? So, you don't really want to guess when you're dealing with somebody's own value. The way I do it, and Richard may do it a little bit, but the way I do it is, I try to figure out what the house is worth without all that stuff first. So, if you've got the best house in the neighborhood, but you've got all these extra amenities, let's say, okay, let's scrap all the amenities, let's figure out what this thing is worth without the amenities because I can value it and I can back up the valuation based on everything else. And now, if we have this detached, beautiful garage, let me go see if I can find somebody else that has one or two people that have had one, see how much more they've got. So, I start at the bottom and I add to it, and I really try not to guess it anything only because if you and I are guessing with your house and we're wrong, the appraiser's just gonna knock and then we'll just go here. - You look like an idiot. (laughs) - Yeah, exactly. - The other thing too, and I think this is important and I say this to everybody now and some people don't believe me and some of them do, the market is going to dictate the price. You cannot price it too high, you cannot price it too low, the market is gonna force you in one direction, either way, no matter what. - Right, but you're gonna have something to start with though. - You have to have something to start with, but I get clients all the time that are fearful. Like, well, what if we don't ask enough? If we don't ask enough, you're gonna get overbid. We're gonna have multiple people that want the property and they're going to bid it up. Well, what if we ask too much? Well, then we're gonna sit here for months and months and months texting each other as to why the house have them, so the market will force you into what the value is at some point if you'd given enough time. - Right, but you've got to use the CMA to, again, establish that initial value, right? And then the market will dictate up or down from there, it's the bottom line. - Correct, yeah, and usually what I tell people that so that they don't get panicked that they're making a mistake, and it sounds easy and maybe it doesn't work this way every time, but the market won't let you make a mistake, 'cause like I said, if you're too low to bid you up, it's too high, they won't bid you at all. - Right, Dwight, from a lending perspective, let's bring you in on this. The comparative market analysis, the CMA, you obviously are looking at appraisal reports to determine if you want to lend on this property or not. How are you utilizing CMA in the lending process? - Well, I don't think we necessarily use this CMA. It's a good place for like Corey or other agents to start, and that gives us an idea of how to go forward with that particular borrower if they sell or buy based on a CMA. So we don't really get involved in it too much. Sometimes we'll get involved in like a broker price opinion, which is a little more of a formality. We use those sometimes, but not very often. And generally, John, when we use those, they're just to support maybe what the house is worth, 'cause we're renting it. So it's not really affecting our property. It's kind of validating something on another property or something, if that makes sense. So we're not really data dependent on that. It's just helping us support it. - Got it, got it. All right, Corey, let's go to our second point. Property valuation algorithms. - And again, the stuff I use when I do a CMA with the MLS, or I look at different websites, those algorithms are things that are built into these, these sites, these programs already. So I'm sure there's some super smart agents out there that create their own algorithm, and they're gonna beat the market and they're gonna do all these things. I don't have any of that stuff. I don't really think it's necessary because it's the tools that are at everybody's disposal that are free to use from it most part, already haven't been there. - This is pretty much a Zillow, right? Or a Trilio or something along those lines. This is essentially what they're doing. They've got the property valuation algorithms. They're looking at the historical data, the property features, so on and so forth, and then automatically calculated the value. - Correct, yeah, and most of them usually aren't super correct. They're great tools, John. They're a good idea to give you a good barometer. So I feel like I don't know if my house is worth 100 grand or a million one, pop it into Zillow and it'll get you in the ballpark, but then you really have to narrow it down if you wanna get a true value, or you throw it on the market and the market will dictate what the value is. - Right, right, okay, perfect. All right, we'll hustle through our other points when we come back, when we talk about again, how is that analytics used in real estate? Well, according to white, let us wrap it up with Kristen Snow. She is in the right now, traffic center. Kristen, welcome back to the John Sanchez Show on Newstalk 780K, which, hey, don't forget, if you missed any of our shows, just go to your favorite podcast distributor, iTunes, and Spotify, et cetera, and pick up our podcasters. Hundreds of them, hundreds upon hundreds of them out there. And from these guys, they've been there. They've been with me for so many years. They've got hundreds and hundreds of podcasts. Corey Edge of Edge Realty, phone number, sir. - 673-6700. - Mr. Millard. - 240-2022. - But you guys didn't even realize you had so many hundreds of podcasts out there, did you? - I did not. - I'm not kidding, I'm excited, I'm gonna tell. (laughing) - You're stars, you're stars. All right, boys, we're gonna hustle through this. We were talking again about how data analytics and real estate has been used. We talked about the CMA, the comparative market analysis, property valuation algorithms, things like Zillow, Truleo, et cetera. Market trend analysis, Corey, we're gonna skip that one in interest of time, that one pretty much speaks of itself. But I do wanna go to predictive analytics. This one has me fascinated. This is where you as a broker, Corey, or you're again, trying to rub the crystal ball and say, all right, what are the future market conditions? Where are things going as far as interest rates, you're conferring with Dwight and so on and so forth, employment trends, et cetera. How do you use that one? - Yeah, and I think the biggest one that we use is seasonality, right? So if you're coming into the winter time and you're looking at sales from June, you can look forward and say, okay, well, obviously the market's gonna get a little slower doesn't mean anything, but we gotta sell the same before Christmas, we're gonna have to get aggressive on our pricing, and vice versa. If you're just putting it on in the spring, you can be a little bit more aggressive in your pricing 'cause you know you're coming into the ramp up at summer buying season. - But that's not really predictive analytics, so that's more seasonal trends, right? - It's predicting. - It's predicting where the price is going to go. - I can't predict anything it's not. (laughing) - All right, sounds good. Oh, all right, Dwight, let's get your opinion on this one, then we'll wrap it up with Corey's opinion on this one, and that is buyer behavior. Man, this is always changing, right? This is where you're going through property searches, looking at trends and so on and so forth. Again, real estate trends change as quickly as clothing trends change. - Yeah, these are becoming really, really popular, John, all across the country, for lenders, for builders, for realtors, you know, this is just the more information you have, the more you'll know about the behaviors. And it's so easy then to start kind of, you know, planning your marketing and different things right around all of that behavior. You're starting to see, we've talked about on the show where you're starting to see, you know, the, you know, the millennials coming into the mark, how much they're going to influence it, and all these different variables, and it's, and we just have to adapt when you start to see it. Hey, you're going to have an influx of, you know, at different, you know, whatever it is, you're going to start then creating and generating marketing and strategies around that information. So it's becoming very, very popular. And there's lots of sources now, there's more and more sources to get this kind of information. At least for us, and I believe the realtors have the same access. Yeah, Corey, so you, and that's a great point Dwight brings up you. You really have two ends of the spectrum, right? You still have kind of the baby boomers that want the mother-in-law quarters and so on and so forth. But yet you have the millennials as Dwight's referring to. So that can be quite a challenge from a marketing perspective. Yeah, and like he said, there's a lot of information out there now. And I think COVID's kind of a good example. I remember when we were talking about, oh, the new trends are now, they're going to have some type of in-lock quarters, you're going to have a home office, and have a backyard kitchen. We're going to have all these things. And people started moving that direction. Paint colors, interior paint colors, are a big one you can kind of tell, okay, if we want the highest price, we've got to paint it, you know, Earl Gray T, because that's what everybody's doing on TV. Yeah, that's true, I mean, the thing about that, there's hot trends in colors too, and that's for sure. All right, so to wrap it up guys, you've got comparative market analysis, property valuation algos, the market trend analysis, the demographics and socio-economic data, which we didn't get to, predictive analytics, seasonality and timing, buyer behaviors, but when it all comes down to it, boys, this is why you both are so good, because you got the experience in it, right? That's where it all really comes down to, you got to bring it all together. Beautiful, that was a lot of fun guys, and we'll continue doing that, because again, these are changing all the time, but you got a good taste of it where we're sitting out. God bless our great evening, we'll see you tomorrow on the John Sanchez Show, take care. This program was sponsored by Sanchez Wealth Management. The material in this program was intended as general information only, and should not be taking a specific investment, tax or legal advice. None of the information on this podcast was intended to be a solicitation for the purchase or sale of any security. Further information is available by contacting John@sansheswealthmanagement.com, or 775-801-01. John Sanchez offers securities and advisory services through Independent Financial Group LLC, a registered broker dealer and investment advisor. Member FINRA SIPC, securities only offered in states, John Sanchez is registered in. Sanchez Wealth Management LLC and Independent Financial Group LLC are unaffiliated entities. Synergy One Lending Equal Housing Opportunity, and MLS #1907235, Dwight Millard, and MLS #24129, phone number 77524022. The information provided today is for educational purposes only. The position strategies or opinions of the show do not necessarily represent the position strategies or opinions of Synergy One Lending or its affiliates. All information loan programs, interest rates, terms and conditions are subject to change without notice. Synergy One Lending offers home loan financing only. Synergy One Lending is not affiliated with the John Sanchez Show. Any speakers, companies or institutions feature. This is a paid advertisement. - It is Ryan Seacrest here. Everybody needs some variety in life. That's what I love about Chumba Casino. They know how to keep things fresh and exciting. All their games are free to play. Like spin slots, bingo and solitaire. 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