The Jon Sanchez Show
11/24 - Creating a productive relationship between real estate agents and property sellers.
But there's only one feeling like knowing your banker personally, like growing up with a bank you can count on, like being sure what you've earned is safe, secure, and local. There's only one feeling like knowing you're supporting your community. You deserve more from a bank. You deserve an institution that stood strong for generations. Bank of Colorado, there's only one. Member FDIC. Good Thursday afternoon to you. Welcome to the John Sanchez Show on News Talk 780K, which it's a pleasure to be with you. It's a pleasure to be with one of the two co-host, Mr. Millard has the afternoon off, but Mr. Edge is raring to go. How are you, my friend? I'm doing fantastic. How are you doing? Very good. Very good. Quite surprising. Quite surprising day in the market, to be honest with you, but hey, we ended up in the green in a pretty solid limelight, so I'm a smiling, Corey, Edge, I'm a smiling. You might be getting your run into the end of the year in early Santa Claus rally. There you go. Oh, listen to you. You are dialed in, my man. You are dialed in. That's exactly right. A little early Santa Claus rally. Yeah, wouldn't that be nice? My goodness. Been a heck of a year so far, but yeah, we can always go higher. Always, always, always. Well great to be with you, my friend. Let's tell everybody what we have lined up this afternoon. We will go through today's market activity. Again, not a significant amount of news, just a big rally on the Dow side of things at least struggled a bit on the NASDAQ and did okay on the S&P 500, but I'll give you all the details. But we're going to jump into our real estate topic after the stock market recap, and let me tell you what we're going to be talking about. How to set realistic expectations when you are selling your home. You know, folks, in life, we set expectations for ourselves. We set expectations for people around us, but when it comes time to sell your home, your sales price, your timeframe, all of these different expectations that you may have may not be the same as the expectation that your real estate professional such as Mr. Edge has. So how do you find that common ground? Well, this afternoon, we're going to share with you about 12 different bullet points. We'll try our best to get through as many of those as we can so that you have the correct expectation because Corey, as you have enlightened us on and all the years you've been on this show, that's probably one of your biggest challenges as a real estate broker is making sure that those expectations are set correctly at the beginning of the relationship. So someone is not thinking their home is going to sell for, you know, 700,000 and realistically, it's only worth 550 or 600,000. That's just one of the many things that the expectation, hey, my house is going to sell within 24 hours. What do you mean, Corey? It's 48 hours. You don't have a sold yet, right? I mean, so many different things that we set in our mind as buyers and as sellers. Many times, of course, are not realistic, and that's why we need you as a professional do, again, temper our expectations a bit. Yeah, it's not so much that the expectations need to be set correctly. You just need to make sure that two people with the expectations have the same expectations, right? It's, you know, what you and I think is realistic may not be realistic to somebody else, right? So I never, I never take that away from somebody. If they think their house is worth a million bucks, I say, great. You need to find somebody to go ahead and list and try to sell it for that. I don't think it's worth that. So there's no reason for us to always start time together and there's no hard feelings there, but I would never talk somebody out of that thing. But if the, if the agent's expectations aren't aligned with the client's expectations from the beginning, then it usually leads to a problem. And a lot of times, John, eight times out of 10, that is what leads to the problem is the lack of, of the meaning of the mind. Wow. You know, it was funny, Corey, where I kind of got this idea was I was, I was looking on the Wall Street Journal, WSA.com and they ran a great story in the real estate section. I don't know if you saw it or not, where they interviewed a number of high-end, you know, these guys we see on, you know, listing New York and our million dollar listing New York, million dollar listing Los Angeles and so on and so forth. I think there was four agents that they interviewed and they asked them different questions. And that was one of the most common problems they run into is the expectation side of things. And, you know, buying these, you know, 50, $100 million plus properties in, in, you know, big cities, setting those expectations because as you and I both know, people with wealth, they are very stuck in their ways. It's pretty hard to, to change their ways and I imagine very difficult to change their expectation. Is that true? Absolutely. And that, that's kind of a different type of clientele. And I think unfortunately, not only newer agents, sometimes seasoned agents, they get in and, and it's like, oh, I just want to get this listing or I just want to get this buyer agreement center or just, you know, like, we'll figure out all the problems down the road. But that, you know, in my experience, 'cause trust me, I've been through some isolation stuff. It's not the best way to go if you can forego it in the beginning and sometimes the best thing for everybody is to say, Hey, I love your house. I think you're a great person, but this, this business relationship probably isn't going to work out for these reasons. Right. And everybody goes a separate ways. Yep. Yep. Yep. Last question, you realistically will walk away from a listing that could be very lucrative to you if in the onset of the relationship, the expectations are too, too wide between you and the seller or the buyer. In my business, John, it's only lucrative if I can cause escrow. If I'm going to get fired six months into it, because I haven't sold it, then there's a way to look at it. Nothing. Right. Like in those cases, I'd rather be the fourth agent after they've fired the first. Pick up the crumbs. Yes. Yeah. Because then, then they're dealing in reality at that point. Yes. Yes. Exactly. How is reality right now? Are people being realistic? Are they being out there in left field with prices they want when it comes to selling? I don't think they're being unrealistic, but as I always harp on, it's not like a broken record seasonality. I mean, Thanksgiving's next week, you've got Christmas a month away, you've got snow coming in bubble, but the market is not what it was in June, but some people are still asking June prices, and they're holding open houses and doing all these crazy things thinking that's the problem, but that's not the problem. You need to. Okay. And this is, I'll make a blanket statement. It's not for everybody, make your house off the market, put it back on in February. I mean, you're beating your head against a brick wall trying to do these things. Right. Right. It's great advice. Great advice. We'll get to that momentarily. In the meantime, let us get down to the stock market side of things today. So you know, we started pretty well this morning. The features were up triple digits on the Dow side and kind of held there going into the open. We're up a little bit north of 150 or so right at the open. So it looked like it was just going to kind of be a ho-hum day. We did actually begin to dip just a little bit right after the open, and then it did not last long, and it looked like a rocket ship launch going from probably that first half after that first half hour of the trading session all the way up to our peak, and we didn't close at the highs, but came dog on close, best level. We're up over 500 on the Dow today. And the crazy thing, Corey, there was really no news behind it. But what we did take away or what our takeaway was of today is this was a rally that was long overdue. We've had a number of days, I think five days now or so where we've had the Dow down. So it was very much into an oversold condition. But then secondly, it was a broad-based rally, matter of fact, technology names did not really participate at all today. Apple was down 60 cents or so, Tesla down a couple bucks, Nividia, which of course reported after the close yesterday, it was up a couple bucks at its best level, finished up, you know, just fractionally about 78 cents, a half a percent or so. Meta was down a little over $4, I mean, right on down the line. So this was the day where the, like I said, the rally was broad-based. I mean, you look at, now IBM did lead the Dow as the top percentage performer, up $3.45, $7.40 gained to $2.22, but you had sales force in the number two spot, up $10.43, the new kid on the block, Sherwin Williams, up $11.66, you had Merck up there, you had Home Depot, Nike, and then the financials were very strong. Goldman Sachs up a little over $14, $14.07 to be exact. So again, it was very broad-based as far as the rally. And that's, again, to your point, Corey, that's what you want to see to confirm going into the end of the year that the rallies have legs. Now, one day does not mean that we are beginning a rally, tomorrow I think will be an important day. And then next week we get into, as you mentioned, the holiday season and a lot of traders are not at their desk. Typically in a holiday week, the market tends to go up because, as Jason likes to say, there's not a lot of professionals or a lot of amateurs sitting at the trading desk, so they don't tend to move the market very much, all the big boys and gals or, you know, they're hunkering down for Thanksgiving. So next week should be very interesting, but we will take definitely the gains that we had today. So here's how we finished up a 4.62 gain on the Dow, 1.06%, closed up $43,870, just a 6-point gain on the NASDAQ, closing level was $18,972. And a 32-point gain or 0.53% on the S&P 500, finishing up $5,948. Still was strong, 1.9% rise, unfortunately, came back above that $70 mark, 70/10 of barrels where we closed, good strong day for gold, $23.20 rise, $2,674.15, and a 3-basis point increase on the 10-year treasury, given our close at 4.43%. Quay, let me squeeze in the mortgage rate, so, of course, fill in for Dwight. According to the mortgage news daily, the 30-year national rate on a 30-year mortgage, 7.04% down just one basis point on the day. As a matter of fact, if looking at the 15, the 30, and pretty much everything other than the 30-year FHA, they were all unchanged. So are people starting to feel a little bit better and getting used to this low 7% mark, Quay? I think so. I mean, we've been through seven before, and the market survived. We've got lower, obviously. We've been higher, the market survived. So as long as it doesn't keep gyrating wildly, and people will get used to it and be okay with it. Okay, good. Glad to hear that. All right, we've got the market recap out of the way. When we come back, let's get down to our topic because we have a lot of points we want to get through to you. Once again, how to set realistic expectations when selling your home? Let us turn it over to Kristin Snow. She's in the right now, traffic center. Hi, Kristin. Welcome back to the John Sanchez Show on News Talk 780KOH, with Corey Edge, Dwight has the afternoon off. We finished with a gain of 4.62 on the Dow, raising 6 on the NASDAQ, and a 32-point increase on the S&P 500. All right, in a moment, we'll get to our topic, how to set realistic expectations when selling your home. First of all, let's tell you about another great local business, and that is my friends over at S&P Attractor. It's coming to the end of the year. Santa and the crew have an incredible inventory, a remarkable matter of fact, this time of year, and they're willing to make some great deals with you on a coyote tractor. These are machines that will last you for years, upon years, upon years, just like mine has, and it will continue to. So one of the best values you can ever get, and guess what, saves that back-breaking work. Small models, the big ones, and everything in between, let the experts at S&P Attractor design a great tractor package for you. Find them at 48 to 80 East Nylane in Carson City. Phone number's 882-125, that's 882-1225, and online at s&wattractor.com. All right, let's get to our topic, Corey Edge, like I said, we've got a lot of things that we want to go over here. So we're talking about expectations, again, one of the primary reasons, at least in my opinion, Corey, tell me if I'm wrong, that you will get into a conflict with your real estate professional, right? Whether it's the selling price of the home, whether it's the time it takes to sell the home, a number of different things, right? So what we want to do is make sure that doesn't happen. We want everybody to be happy and have a good profitable relationship with your real estate professional, just like Corey has with his clients. So we're going to help you manage your expectations. All right, Corey, you put together a great list here. Let's start with the first point, which is, educate early. Educate early. I love this point. Well, and I think whether you're dealing with buyers or sellers, you're going to have that first initial meeting. You're going to go over stuff. It's kind of one of those meetings where you see if you like each other and can we get along and I'm going to be spending, you know, 40 hours a week in a car with you driving around. So I got to make sure everything's good. But that's also where you want to set for the buyers, you know, discuss the market. If you're in the heat of the summer season, houses are selling in the first hour, there's multiple bids. That's the time to explain to them that, hey, here's probably what we're going to encounter. Here's what you can do about it if you want to and go through all that. Now, I will tell you, John, I think Dwight would agree with me. Sometimes with people, my shelf included, we listened to all that stuff and we think yeah, right? Like either this guy's pulling my leg or that's not how it is. And it takes a couple of times of rounds of rejected offers for them to believe what we're telling them. You can set it up front and then they can point back to it. Stellar, same thing. You go for pricing. You go for cost. You go over different things. And what you're trying to set up is, hey, you know, here's what we can expect price-wise, time-wise, all this stuff. And hopefully you can over-promise or over-promise and over-deliver, under-promise or-lever, sorry. Right. I'll screw that one up too. And so there are everybody's on the same page. Right. And Corey, is this the phase that's educating early, is this the phase where you're sitting down with them? Obviously it'd be on the seller side of things, or sitting on the buyer side of things, and going over the new listing agreement and so on and so forth. On the buyer side, absolutely you have to. I mean, technically I guess now, until I show you a house, I don't have to have you sign it, but you need to get this down up front because it goes over commissions. It goes over all of these things and this is a new world for buyer agents and it's a new world for buyers because, you know, in some cases they may end up having to pay a commission if they agree to it, they've got to let them know right up front what to expect. Yeah. Yeah. Very similar with our new clients. Yeah. You spend the time up front educating them and you'll have a much better relationship going forward. Absolutely. All right. Let's go to our second point. Setting clear goals. Right? This is, again, extremely important to have to do us about this point. So, again, if we go on the buyer side, let's say Dwight approved somebody for $300,000 and then they come to me and they say, "Listen, we would like Old Southwest. We want four bedroom, 3,000 square feet on maybe an acre." That's where you got to sit and say, "Okay, listen, here's the market we're in, 300,000 probably isn't going to cut it." And you just have kind of a heart-to-heart talk like, "Here's what is out there in your price range." And not to be little or talk to anybody, but a lot of times they don't understand what we're up against. And then you can go over options like, "Hey, you can wait till the winter months where there's fewer buyers. You can do this. We can look at condos. We can go to Carson City." Here's some ways we can kind of get around this to still get you close to what you want. And then on the seller side, it all comes down to numbers, right? But sellers want the highest price possible, but then they also look at the net price at the end of the deal. That's where you got to have clear communication that if you sell for a million bucks, that usually doesn't mean you're going to put a million bucks in your pocket. Let's talk about commissions, closing costs, and the rest of them. And I'll tell you a quick story while we're on this. I won't wait too much time, but I had a client. We closed escrow about 30 days ago, lovely people, old Southwest home. They had sold the house in 30 years. We went over all this stuff, and I thought I did a good job explaining to them and the closing costs from this mat, and when we got to the very end, we had done all the calculations. And the wife called me and she was almost in tears and said, "I didn't realize the closing costs. She didn't realize the transfer taxes." And they had their stuff. And I said, "You know what? That's on me. Like, if I didn't do a good enough job explaining that in the beginning, then I'll eat it." And so I paid, you know, five-six grand of their closing costs to make sure. Because, you know, and I firmly believe that, and I explained to them, "You hired me to do a job. You hired realtors to do a job." If you're telling me I didn't explain it right, then I didn't explain it right, and that's my problem, not yours. Yeah. That's why you're the best at what you do, my man. That's why you're the best. Yeah. No, we all have that. And many times, of course, especially when we get into any type of financial transaction, your world, my world, many times, you know, things go in one ear and out the other. And yes, as professionals, we all need to slow down a little bit, realize that, you know, the average person does not deal in our worlds, and, you know, we've got to take extra time to explain things once, two, three, four times. And I think this is a great learning point, Corey, not only on what you did by eating those fees, but secondly, folks, please remember, and again, I don't care what the financial transaction is, if you don't understand it clearly after your realtor, your financial advisor, whomever explains it to you, we love getting questions. We would rather explain something three, four, ten times than have a situation like Corey, because we all want to do the very, very best for you, they're not one of us want to do anything. We're like, oh, I'm safe. Sorry. You didn't understand that. That's your bad. You know, like a lot of professionals in your world and my world will do. No, the good ones are going to say, you know what, maybe I didn't explain it properly. Yeah. Let me, let me eat this or whatever the case may be, but please, please, please always ask questions. As the saying goes, there's no dumb questions that are out there. Let's go to our third point, Corey, before we go to break. And this is about this, like in life, marriage, et cetera, communicate transparently, communicate and apparently. And it goes back to what we just talked about. Sometimes in both of our businesses, we use jargon and we have terms and we talk real fast about it because we do it every day, but the person sitting across the table may not have done it for 30 years. So you got to slow down and explain it and, you know, hopefully put it in writing and make sure that they really get it. That's the transparency and I've come to find John and I'm sure you have to. If you explain it and they're expecting it, it's never an issue. It's the unexpected one that always raises the problems. Absolutely. And then on the listening side, hold on. Oh, let me just interrupt you real quick. And once again, I know that you have done, or you do tremendously well with your clients, you're one of these guys where it's not all a bed of roses. You are very upfront and transparent and say, look at these are the challenges, hurdles, whatever you want to say that we are going to face, right? You've brought that at many times. Look at one thing I remember you said a few weeks ago, look at, you're going to get a home inspection. There is going to be things wrong. Just be ready. No matter how perfect you think your house is, there is never a perfect house. Your appraisal is going to come in. It's not most likely going to come in where you think it is. There's going to be challenges. You know, when Dwight goes to, again, on the buying side goes to a pre-approve you. He's going to ask you for a whole bunch of documents. It's nothing personal. So again, laying out these potential hurdles up front, that's part of the transparency, isn't it? Yeah. I tell people, like, we're going to go on this journey and we've got to remember where the destination is, what we're trying to get to because there's going to be some rough patches along here. I don't care if you're still on a condo or a 300-unit apartment building. It's just nothing is that smooth, but if everybody agrees, like, hey, we're going to get through it and not take it personally, then they end up getting to the end of it. Nothing, nothing, nothing irritates me more. I don't care if you're dealing with an accountant, an attorney, a real estate person, whatever the case may be, where you have a hard time reaching that person. When you have a question, oh, yeah, Mr. Smith will get back to you in three days or whatever the case is. You do a great job keeping in communication because, again, when we're talking about transparency and communication, you are in constant contact with your clients throughout the entire real estate transaction. I try to be as, I'm sure I have some clients that are laughing right now saying, no way. I do find myself sometimes, John, like, if there's a problem, I'll try to solve the problem before I have to involve them so that they don't have to worry about it, but that also sometimes leads to lack of communication because I think nothing's happening even though there's a bunch of stuff happening that we're trying to solve without people worrying about it. Yeah, and that's what a good professional does, right? We'll talk about here in a little while, don't bring them a problem, bring them a solution. I mean, there are going to be problems in the transaction, and so, yeah, you're absolutely right on that. All right, when we come back, we're going to be talking about our next point in our situation this afternoon, how to set realistic expectations in the real estate deal. We'll talk about managing emotional expectations. Oh, yeah, you're dealing with money. You better believe it's going to be emotional. We'll talk about how you handle that. First, let's turn it over. I apologize, Sam Snow or Samantha, who do we have in news today? We have Jack. All right, Jack Saban, it's all you, my friend. Welcome back to the John Sanchez Show on News Talk 780KOH. It's with Corey Edge. Dwight has the afternoon off. We finished with a gain of 4.62 on the Dow. The Nasdaq rose 60, S&P, higher by 32. All right, we've just begun our discussion on how to get, or excuse me, how to set, not get, but how to set realistic expectations when selling your home. So first point we covered, educate early. Number two, set clear goals. Number three, communicate transparently. Now we're on to our fourth point, manage emotional expectations. As we all know, it's a real estate transaction. That means it has money. I've always said people are emotional about two things, primarily in life, money and food. So Corey, in this point here, this is where a lot of reassurance needs to be given to the client to keep those emotions in check. And again, especially when we start getting into the negotiation side of things, when, like you've always said, maybe their offer is rejected when they're trying to buy something. They're feeling down like it's personal. How do you handle the emotional expectations? You know, you just talk through it. The biggest thing I've seen over the years is I can relay my experience of different clients and kind of what they want to. And sometimes people, you know, they look at that and grab onto it and say, okay, well, that makes sense. And sometimes they don't care, you know, like, oh, that's going to million bucks. The offer 99, 999, like I'm not settling for it. And so you just, you got to do what the reason. The biggest one too, John, that I see is they're emotional about the money. They're emotional because it's a home that they've been in. And then you get into the logistical component of somebody has to move out, somebody's trying to move in. It becomes incredibly stressful. So whatever you can do to kind of facilitate and ease the stress around the moving park is ever, I don't know, one person that loves moving. So everybody back to the after move. And so that's another emotional part. It's not so much crying. It's, it's anger, right? So you want to, you want to try to ease that as much as possible to make it go smooth if you can. How, how, how much do you get involved with, with the, I guess I'm trying to say the logistical side of things, right? Like you were saying, the move is a, is a nightmare and I mean, on and on and on. What's the fine line that kind of breaches above and beyond what you're quilt required to do as a real estate broker, but yet you want to do to be a nice guy and, and as always take care of your client. Where's that line drawn? I don't know. And we have a fiduciary responsibility to our clients. So we're supposed to get them through the transaction, make sure nobody's lying or cheating or stealing and kind of get to the end. And to me, that's like the first part of it. Then you have the human part of it, which is the next. And I tell all my clients and, you know, this and I'm sure you do the same thing and I mean it. Like, if you need anything, just call me. I felt people move in. I felt people move out. I've done repairs on doorknobs. Like if there's something that I know how to do that I'm okay doing that doesn't require, you know, some, somebody with more experience like an electrician or something like changing a doorknob, I'm happy to go handle that for you like anything I can do to help out with the process. And I don't know. It's just the way my parents raised me. You know, it's the right thing to do, so. Okay. All right. Very good. Didn't want to find that out. All right. Let's go to our fifth point, Corey. This is another area you shine. Provide market data. This man is up at three o'clock in the morning. I know I communicate with him many times at that time, but this is where you're getting into comps. This is where you're looking at trends and, you know, again, justifying if you're, you know, the client says the house wants, they think the house is worth a million. You come back and go. I'm sorry, Mr. Smith. It's only worth 800,000. It's not just Corey Edge's opinion. It's, look, here's the data to justify my price, almost like a, like an appraiser has to come up to. So talk to us about setting the expectation on the market data set of things. Yeah. And the comps are going to be, you know, nothing's perfect, right? And so we're just trying to, thinking Richard Lace does with his appraisals. We're trying to find the best comparables we can at this time in the market to give you an idea. Ultimately, the market's going to determine what it's worth or what you're going to pay for it. This time of year is a perfect example, John. If I had a client call me tomorrow that I want to list my house next week, here's the comps I'm looking at. I guarantee every single one of those would be from June and July and we'd have to say, okay, well, that might work, but we're going to be here for six months before we get some solid activity because if you look at the trends of the market, we're entering the lowest period right now. We'll come out of it January, February. And I've had some clients say, great, I'm in no hurry. I totally get it. I want to be on the market through the wintertime and some of them say, thanks for sharing that with me. I'll call you in February. And a lot of them call because we're the first person to tell them the truth, you know, everybody else just wanted to find a listing agreement or like, I wouldn't do it right now if I was you. All right. All right. Very good. All right. Let's go to number six. Prepare for contingencies. This is where you're going to explain the different contingencies, areas that we talk about a lot on this show, home inspections, appraisals, financing. How do we manage the remotions in expectations with contingencies, Corey? And on the listing side, I always tell my clients, we've got three things we've got to get through. The financing part of it are going to do our best up front to make sure these people are qualified. Technically, we're not going to know for sure until the very end when the money comes in, but that's just kind of part of the process. The two biggies in that are the inspection report and the appraisal. So we've got these two kind of major hurdles we've got to get over. This one is typically the inspection, we're going to let their inspector come through and tear us apart and look at the report and see what we agree with and don't agree with. And then if we get over that, then we got to get through the appraisal, which they're usually not too bad, but if you can get through both of those hurdles, then you're pretty close. I mean, in real estate, nothing's done to the checks in the bank, but you're pretty. You're 90% of the way after those two hurdles. Okay. Very good. Next point, be honest with the client when it comes to the challenges, avoid, as you said earlier, over promising and under delivering. You want to do just the opposite. For example, if selling the home, you don't guarantee obviously that it's going to sell for a specific price, it's not going to sell in a specific time period. On the buyer's side, of course, you talk about a Mr. client, I'm not going to let you over a bit for this property, we're going to keep our emotions in check like the other point. We're not going to get crazy on this one way or the other. Correct. And there are people in this industry, I'm not saying this town, although there are some, but in this industry, the biggest thing they want is your signature on a contract. And then they'll deliver all the bad news once you're in contract because they know you can't go anywhere. And so what we try to do, I want to say we, Aaron and I, we kind of do the same thing as when we have a listing meeting, we just, we render an opinion, they're at a great house. Here's what I think it's worth. Here's why I think it's worth that. And if you use me fantastic, if you don't, I wish you the best, like I'm not here to make sure you sign this contract because I want to make sure we're both going down the same path together. But there are some people that are more of a hard sale of once I get your name on the contract, then I'll call you next week and tell you we need to reduce the price 50 grand because you're over price and that's just, that's the second that point. Yeah. Then you're stuck at that point. Well, and I think the other thing too with buyers, and I see it sometimes is, hey, the market's going up. There's overbidding. So don't worry about you. I bid 200 grand more. It's worth it. Like, well, wait a minute, like you're supposed to be the professional in this relationship. Right. So you got to temper the expectation. Okay. Love it. All right. Plon right through number eight, establishing the timelines. Yeah. And these are, these are all laid out in the contract. You should sit down again on the listing side say, here's the, here's the contract we agreed to. Here's what we expect on these days. And we're not going to do anything to make this happen. This is the buyer's responsibility to get these things done unless there's something that we need to take care of in a certain timeframe. And the buyers, and then the, the, the listing or the sellers can sit back, relax a little bit. No. Okay. They've got 20 days to do due diligence. People night to night because we've got another 19 days to go and they're going to get their stuff done. On the buyer side, complete opposite. You need to know what these timeframes are and you need to understand that you just executed a contract that said you'd have certain things done on, by certain days. And if you don't, you technically waive them. And so it's very important. You know, Corey, what I always notice on the, on these, these timeline issues is rarely have I ever had a real estate transaction close when it says it's going to close. So you go extension to extension to extension. And sometimes it was my fault as a buyer as a seller and vice versa. But I think this is where I know I have to always put my emotions in check, right? It's like, no, I want to close on this date. And you know, again, you know, if I'm selling something, you know, doggone, well, there's things that, you know, whether it's the financing, like you said, or other contingencies that it delays the process again, rarely, I don't know about your experience, but rarely do I ever see things closed. So I think, again, establishing these timelines is very important, but also to be very flexible. It depends how it depends on the market you're in, right? So if we're in a soft market and you're the seller and we have a contract and the buyer says, hey, I need another week, you're going to say, of course, I'll give you another week because I don't think anybody else is going to buy my house on the flip side. If you've got a backup offer sitting there for 50 grand more cash, you're going to be like, nope. I want the minute you're out of contract, I'm bouncing you, and I'm going to take this other deal. So a lot of it kind of boils down to that. And I was helping an attorney friend of mine a couple of weeks ago because they had a case down in Cardinal Real where the agent explained to his client that, oh, no, these are soft dates. You know, you can go seven days away, you know, and this was like, this was a multimillion dollar deal. And I'm like, no, no, no, that's not how it works, those are, they may be soft if the person agrees to it, but she didn't want to agree to it. So they weren't soft and what ended up happening, uh, I'll let you know when it's over. Okay. It's not quite on that one. Yeah. Yeah. Exactly. All right. We'll continue down our path of how to set realistic expectations when selling your home. Let's wrap it up with Kristin so first in the right now traffic center. Hi, Kristin. Welcome back to John Sanchez showing news, talk 780 KOH with Coriage and Mr. Mallard, who is absent this afternoon, Mr. Ed speaking of which can we get your phone number, please? 673-6700. Beautiful. Do appreciate that. And of course, for those of you that are in a mortgage need, let me give you Mr. Mallard's phone number 775-240-2022-2402022. All right, Cori, we're going to have about a minute left here. So let's hustle through these final points, how we set realistic expectations when selling our home. We left off with being professional and a little sympathetic here and there. Empathetic to you. Absolutely. Like I said, it's a stressful situation for people so you don't want to get upset with them if they are over stressing on something you wouldn't because you're not really in their situation. You just have to listen to them a lot and then see if you can help out some way. Okay. I love this next point you came up with offer solutions, not just problems. That's a big one. I mean, to me, it's a big one. You're going to get so many problems, John, that the more you can solve on your own involving them. It takes the stress off. Absolutely. And, you know, I always tell my employees this also, you know, don't come to me, you know, with a problem and no solution, come to me with a solution, then tell me what the problem is. Right? That's what we all want. Yeah. Great. Number 11, confirming understanding. Yeah. So if we're going back and forth and I think I've explained something, then let's just confirm. You understand what I'm talking about here on the same page for the whole thing. One more time. And then lastly, of course, using documentation to reinforce those expectations. And back to the last one, Mike. Okay. I think we understand. So let's just write it down, you know, in English and we'll both sign it. Now we'll make sure we're on the same page. You got it. All right. My friend. Excellent job. Now I see why you are the best at what you do. Coriage of agility. Thanks, everybody. We'll do it again tomorrow on the John Sanchez show. God bless. Have a great evening. Thank you. Manchas wealth management, material in this program was intended as general information only and should not be taken as specific investment tax or legal advice. None of the information on this broadcast was intended to be a solicitation for the purchase or sale of any security. Further information is available by contacting john@sansheswealthmanagement.com or 775-80101. 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. John Sanchez wealth management LLC and independent financial group LLC are unaffiliated entities. Dwight Mallard is not associated with Sanchez wealth management LLC or independent financial group LLC. Dwight Mallard, co-host, NMLS number 241259, guild mortgage company equal housing opportunity, NMLS number 3274, Dwight Mallard, NMLS number 241259, entry mortgage company number 11441, branch address 5370 kitsky lane suite 101 and 103 Reno, Nevada 89511, phone number 9723812410. 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 guild mortgage company or its affiliates. All information loan programs, interest rates, terms and conditions are subject to change without notice. Guild mortgage offers home loan financing only. Guild mortgage company is not affiliated with the John Sanchez show any speakers companies or institutions featured. This is a paid advertisement. There's only one feeling like knowing your banker personally. Like growing up with a bank you can count on. Like being sure what you've earned is safe, secure and local. 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11/24 - ACreating a productive relationship between real estate agents and property sellers.