Agent vs Lender

Persistent Perceptions Become Reality

November 19, 2020 Ron Pippin
Agent vs Lender
Persistent Perceptions Become Reality
Chapters
Agent vs Lender
Persistent Perceptions Become Reality
Nov 19, 2020
Ron Pippin

When you became a realtor did your family and friends question how serious you were about your new career choice? Did you have that doubt in your own new career? This weeks podcast episode we have Amanda King who moved to Utah from Canada 7 years ago. When first moving to Utah Amanda started out as a marketing specialist which eventually brought her to real estate. She shares how she created perceptions with her marketing to convince family, friends, herself and potential clients of a successful and serious realtor that eventually it became a reality. Amanda used her knowledge of marketing to propel her real estate career into a very successful business. Learn how you can use social media to grow your SOI quickly by being in front of your clients and showing them you are serious about your career. 

You can listen to all episodes of Agent Vs Lender on Spotify, Apple Podcasts, Stitcher, and Google Play. If you love Agent Vs Lender follow us on YouTube, Facebook, and Instagram for all bonus content. 


Show Notes Transcript

When you became a realtor did your family and friends question how serious you were about your new career choice? Did you have that doubt in your own new career? This weeks podcast episode we have Amanda King who moved to Utah from Canada 7 years ago. When first moving to Utah Amanda started out as a marketing specialist which eventually brought her to real estate. She shares how she created perceptions with her marketing to convince family, friends, herself and potential clients of a successful and serious realtor that eventually it became a reality. Amanda used her knowledge of marketing to propel her real estate career into a very successful business. Learn how you can use social media to grow your SOI quickly by being in front of your clients and showing them you are serious about your career. 

You can listen to all episodes of Agent Vs Lender on Spotify, Apple Podcasts, Stitcher, and Google Play. If you love Agent Vs Lender follow us on YouTube, Facebook, and Instagram for all bonus content. 


Ron Pippin:

All right. Welcome to another episode of agent versus lender. And today we have Amanda King with us from Holladay, Utah with Unity group real estate. And I'm really happy to have Amanda here, we're going to go over some some. So just a real briefly I'm going to tell her to introduce herself, but for just so you know, Amanda moved here from Canada, and had zero SOI and, and she is killing it right now. So for those that want to know how to get into the business, and how to to build a strong business without a sphere of influence, or where to even start. This is going to be a really great podcast for you to listen to. So Amanda, welcome to Agent Versus Lender.

Amanda King:

Thank you so much for having me today. I'm so so excited to be here.

Ron Pippin:

Awesome. So Amanda, why don't you just tell us a little bit about yourself. And I sort of told him I you know, let the cat out of the bag there that you're that you're a Canadian. And so tell us a little bit about yourself and about where your work and and just get to know you.

Amanda King:

Alright, so I moved here seven years ago from Canada. I met my husband in Vegas, not everything stays in Vegas, apparently. So that's a story in its own right. But I did have to go through the whole fiance visa process, which probably actually helped me with doing legal paperwork. Because I didn't hire an attorney to move here. I went through the whole legal process and ended up in Utah, bright eyed and bushy tailed at 25 being like what the heck am I doing here? This is I'm not in Canada anymore. And my background is in marketing. So the first job I took on here when I finally got my green card was I worked for Clear Channel. They're a huge media conglomerate. And I was selling literally air. So that was my first job. And I did that job for almost a year. But keep in mind what I was selling for the station I was on did not quite match my clientele. I that's the best way to put it. I was quite a bit younger than maybe what was attracting that ad space. But I realized I was like, Okay, I do like, I like consumer, just like working with consumers and helping people customer service, and I love sales. But this isn't a good fit. So then I actually moved to a startup here in Utah. And then from the startup, I ended up thinking, my husband, I bought our first house during that time. And he was like, to me, this isn't gonna be your last house, go get your license, let's start buying property. And who

Ron Pippin:

When you bought your house is that when you went, I can do this.

Amanda King:

Not necessarily was I like I can do this, it was kind of like, I think it took a little while longer to realize, like I was like, Okay, that was very interesting experience. But it took a little while longer, we bought in the sugarhouse neighborhood, right before sugarhouse got popular. So nine months later, all of a sudden, there's restaurants popping up. And it was not the Sugar House we bought into. And then we start realizing Wait a minute, this house is worth a lot more in less than a year than what we bought it for. And then that's when I think lightbulbs started going on. And we were like, wait a minute, there's a lot more to real estate than just buying and selling a house. And that's when the interest started peeking there.

Ron Pippin:

So you had so you, realize that real estate is a really good investment. And, you know, we can we can show charts of over the last probably eight years, that real estate goes up. Almost always, there's a few anomalies. And I think if you look over the last 75 years or so, I think there's like five, and where real estate actually went down. But it only takes a year or two in 2007. I think it took three or four years. For it for real estate, the guy to get back to where it was. And so almost always real estate is on is goes up. So you saw that you saw that and you thought, Oh my gosh, I can I can do real estate. But where did you? I mean, how do you start? I mean, you're from Canada, you have you don't know people here you don't. I mean, maybe you had a little bit now that now that you're on thinking through this, you may have a little bit, you've at least had a few contacts because you were in a sales position. So you had a at least a little bit. But still, it's not like somebody that's grown up here in this area, or even in the US. It's not like you grew up here in new, a lot of people. So what the heck do you do?

Amanda King:

So I realized when I got into it, so I left the startup environment that I was working in, it was a startup, if you look at, not every startup becomes Facebook. That's actually quite rare to become a Facebook. And it made me realize I was like, wait a minute, I'm showing up nine to five every day. And I could do this for my I should show it for myself. And that's where I was like, Well, I have this real estate license that I'm just finishing up. Like it was gonna be a backup, you know, more of a back job, you know, side job, which I know people love hearing that real realtors being side jobs, which now that I am one, maybe not the best idea, but I it transfer translated so well. So I ended up moving from the startup straight into real estate. And it was just such a good fit for me in terms of what I want to do for my life, how I want to work for myself, but also it was a huge learning curve, you become an entrepreneur overnight. And I think people underestimate that it is not HGTV show three properties, you sold a house, there are so many things that that like include that are included with real estate and the job itself. And you know, I had to learn the hard way for my first three months, it was not an easy job. I didn't make any sales, I'll be totally honest. But instead, I took that opportunity to just learn because the more I knew the more confidence I had because you can pass the test. It teaches you nothing about every day in real estate and what you actually have to do to get clients and treat it like a business. So

Ron Pippin:

That's a really good point to make is that people think oh, yeah, I'm gonna be a realtor. I like looking at houses, I'll just go show some houses and we'll sell a few houses, you know, and it's just like, I hear that all the time. It's just like, what they don't realize is there is so much more to the business side. And real estate is like showing a home or listing the home is is only a small a really small part of the business or is that the business part I think is where what gets a lot of people and why they fail. Because they totally just like you said, they totally underestimate that business aspect. And you have to have that part of it, or you're just not going to be successful.

Amanda King:

Exactly, exactly. So, you know, I will admit it, my first three months were hard, I'm sure most people would quit. In the first three months, I got in my head a lot. Just because, you know, I came with a marketing background, I marketing consulting background, I had a degree I killed it, getting my degree. So I thought, oh, like, if I can just pass this test, I should be fine. So it was a really good learning curve and humbling experience to get into the industry and realize, wait a minute, people just don't want me to buy and help them buy and sell real estate like that. So I really did have to start reaching out to people. And you know, shamelessly letting people know, hey, I am a realtor. And I think sometimes, especially newer agents probably get in their head that, oh, I don't want to be that person that tells people I'm a realtor, but you really do your first six months to a year have to remind people because they forget. And it takes about six months for any connections that you have any network that you have, even if it's a small network for people to be like, Oh, she's really going to do this. I think at least I really think your friends and family think Oh, that's cute. She's going to try and be a realtor. And then after six months, something changes. And they're like, Oh, wait, she's really doing this. She sold a couple houses now what's going on? Um, so that's probably the best advice I can tell new realtors is you know, first of all, don't get in your head. But perception is reality. So, you know, partner, partner with another agent share their listings. Funny enough, people don't understand how real estate actually works, hence why they think three houses and they're buying one. So sharing a house on Facebook, Funny enough, most people think that's your listing, even if you know, shared by my fellow colleague at Unity group, people think, oh, she's connected with the listing that must be hers. And you are in a way it's your brokerages listing, but doing things like that really do help build your brand and build you as a realtor and build confidence in your buyers and sellers who want to hire you, even if they don't know you. Well.

Ron Pippin:

So did you use social media pretty, quite a bit to build

Amanda King:

100% social media has probably been my, my biggest thing, you know, people joke about, you know, having a presence on Facebook. But that has probably been one of my best avenues to grow and remind any network that I did have in Utah that, hey, I'm a realtor. And I will tell you, I'm just having just trying to grow that Facebook network and you know, reaching out to people and just, you know, being putting yourself out there really is exactly how I started building my sphere of influence.

Ron Pippin:

Yeah, I think it's really important. I don't think you can stress that enough, as is letting people know what you do. There's sure it's a shameless plug. But I mean, if you don't continually, I mean, I've done this for 25 years. And there are still some people that go, Oh, I didn't know what you did for a living. And no, and sometimes, sometimes I think, are you kidding me? Like, but it's my own fault? Because I don't, I don't shamelessly plug myself near as often as I probably ought to. Because I because sometimes I think Well, I've done this for for so long. But I think just people just remember. Well, I have news for four people, including myself, I have news for each of you. And and this is actually I'm talking to myself, it's like, people don't think about you near as often as you think they do. So unless unless you are telling people, like I'm a realtor, I'm a loan officer, I'm whatever it is that you do, they aren't going to remember.

Amanda King:

You're so right. And you know what, when you're that first year, the first two years are the hardest. And you're an entrepreneur at this point, real estate, being a lender, you own your own business, you are a form of an entrepreneur. And how many businesses fail in the first two years? Isn't it astronomical, like 80% of entrepreneurs fail in their first two years? So your first two years, you really got to you have to put yourself out there, but I'm on year five now. And it is like more Oh, by the way, I am a realtor, you know, it's more you build these connections. And then you kind of slightly say, oh, by the way, I'm a realtor. And usually people know or they'll ask about the housing market. Or how about how have you been? And you're like, Man, it's I've been working hard to you know, you can just slide in there. You don't have to be like, are you looking at buying or selling you don't have to be as in your face their face anymore. But you've built a lot of just credibility over those last five years, at least I have. I can only imagine what 25 years does, but you are right. You've got to remind people Still, maybe not as in their face, but definitely have to say, oh, by the way,

Ron Pippin:

You know what, I don't know, Amanda, it's just like, I have so many people that I know, that have bought or sold a property and didn't use me as their lender. Now in all fairness it maybe it maybe it was that maybe I'm too close to the situation. They don't want me to know their finances, they don't want me to know their credit. And and to be honest, everybody knows a realtor. Everybody knows a lender. It's just like, because there's, there's so many of us out there. And so it used to kind of bug me that, well, they didn't use me, why did they not use me? Part of that is my own fault. Because when when member when you say you don't have to remind people as often you don't have to be showing their face. Well, that's part of the reason why they didn't use you is because you became complacent. And myself. And when I say you, I'm talking about me, I become complacent, and think they're just going to use me when in reality, they're like getting bombarded with other people that are newer in the industry. And they are, they're going after it and they're in your face, they're going well, this guy is like all over it, they're going to be all over it for my entire transaction. That's who I want. That's what I want on my in my corner. And it's not that we we that I wouldn't be that person. It's just that I'm not showing that. Does that make sense?

Amanda King:

It does. And, you know, it goes back to also not being top of mind, you know, like, one thing I do try to do is, you know, reach out, I consider a lot of my clients at this point, my friend, you know, and they know me as a realtor, but I really do like, sometimes I miss them. I'll literally say Oh, like after a transaction, I have texted clients and I miss showing you houses, weirdly enough, but then they're like, Oh, my realtor misses me like how lucky am I that I have a realtor that misses me or, you know, I'm going back to the whole investment side. And this probably leads on to working with first time homebuyers. You know, those were my, you know, first clients, and I really do value them I the first the first five people I helped buy or sell a house, I consider almost family, and they definitely are not related to me worth or nor were they close friends. So um, you know, it's really crazy how those people can just come into your life. And you know, me being from Canada, oh, my family's from Canada. Um, all my friends up to college are from Canada, and live in Canada, no one lives down here. So, um, I have recorded, I've almost created my own little friend and family network through real estate. It sounds silly, but it's so true. And I treat those people like family because my family can't buy it out here. So I have room to treat them like family.

Ron Pippin:

That's awesome. So, so you've talked about first time homebuyers. And I want to get into that here in just a minute. But just just to make sure that I understand. So you came here from Canada, really no contacts, you you jumped on social media. And you built you built yourself built your sphere of influence around social media, using other people's listings, instead of your own and, and just attaching yourself to to properties that are on the market and just sharing them and saying here's a great house so. So you were out in front of people all the time, and making it appear? Not not like there's anything wrong with that it wasn't like you were being deceiving or anything. It's just part of part of the business. But you were sharing listings, and letting people know that you're there to help them. Is that is that kind of what you did? Essentially, yes, like I still gave credit like if you ever look at a listing I've ever shared and I still share listing stuff at this point now to help other agents at my brokerage out to get exposure. But when I first was doing it, I would credit the agent or if the agent was just like, please just share it. But they're usually at my brokerage and they usually just like anyone share it, please kind of thing. So you weren't really doing a disservice. But I would. Anytime I do that, I definitely try to give the agent credit. But you know what it always goes back to I actually went to like a conference when I was in university at Harvard. And one thing we went to like a breakout Master in business session. And the first thing that Professor wrote on the board is perception is reality. And it really is, you're not tricking people but you want to perceive and be perceived as someone who is a full time in the business. Otherwise who is going to hire you. If you're a nonexistent on social media if you're non existent in other aspects of the business, you know, I love, love, love. And I always ask for permission even from my clients when I close a deal. I love sharing, you know, the little picture of us saying just closed on a house and that I think it speaks volumes because I took these people on a journey, and I'm doing it, I'm closing deals, you know, it speaks like, okay, she is full time, she is taking this serious, this is what she wakes up every day and does for a living. And I think that just that's what you have to do. And that's what you have to do. If you're an entrepreneur in anything, you know, you have to connect with the right people. I even asked when I was kind of two years in like the first two years, I would ask to do little like, you know, Facebook Live or Instagram showings, you know, and it is naturally easier if you're especially a younger agent, to get buyers. But I will tell you, when I got my listings, I treated them like the biggest marketing opportunity. I had the best photos I had, you know, drone video photography, like I would help with staging. And so when I do get my listings, I do view them as golden nuggets, and I do respect them a lot. And I think that's also what helped build the business more. So, um, we have a I have, I'm trying to look at the schedule here. Yeah, I have a real estate photographer scheduled in a couple weeks to come on here. So to talk about exactly what you mentioned, it's just like you used it as a, as a great opportunity marketing opportunity. And so I'm just, I'm just gonna plug one that's coming up is like, really, the the pictures that you take, reflect on you personally. And if you are taking pictures with your cell phone, and that's your marketing, it's just like, dude, you. You, sorry, I say dudes, because you, California guy originally. And so it's just like, you know, you cannot do that you cannot you're not doing your listing any favor, you're not doing your seller any favor. And for sure, you're not doing yourself any favors. Because if you put up if you're putting out subpar photos, other people are going to see that and they're going to see other people that are putting out these amazing photos. It's just like, you're just you're just telling people don't hire me because you're not putting out quality marketing pieces for for your, for your clients to do is that what is? And that's what I hear you saying?

Amanda King:

Oh, exactly. Coming from a marketing background, this is a chance to show your brand when you get a listing. So if you are giving, you know, I want to be viewed as a professional, I want people to hire a real estate professional, great to do their job. Well guess what? I hire professionals to do their jobs. I'm not everything. I'm not everything I hire, I used to think staging was not, you know, I was like, Oh, you don't need to spend money on staging. But, you know, I got one of my first almost million dollar listings, it was a $900,000 listing in Park City and I, you know, hired the best I could find for staging, I hired the best photographer videographer. And you know, the timeline that it took to sell it was less than six months. That's a huge deal a couple years ago. And so that is um, a lot of people I think underestimate that this is a chance to show your brand. And not only that you can use the photos all the time for marketing, you know that you can always resurface them. If you have nothing else to post on Instagram people like visual on Instagram, you Those are your photos you paid for them unless your client Did you get to use that as a marketing tool. 100% always put your best foot forward otherwise, it's just going to speak to what kind of agent and experience you're going to give your clients.

Ron Pippin:

Yeah, good for you. Because that's, I think that's really important. And so good for you for realizing that earlier on in your career. rather than waiting until you you've until you've kind of started showing some bad marketing because it's hard to overcome that. So you want to make sure when you're building your brand, you're building it right from the beginning. So you had mentioned first time homebuyers and I think we talked just briefly before the podcast that that was kind of my niche in has and it always has been missed first find it's kind of been my bread and butter. Not to say I don't do any of the other any of the other niches because now I have a team that that helped me with with multiple avenues. But it's always been my first time buyer and so when you mentioned that you that you deal with first time buyers and you love them. My, I'll be honest, my, you know, my eyes kind of lit up a little bit because it's like, that is my niche. I love that though I love talking about that. So tell me where where you're at with first time buyers and, and in how you approach them and and how you're marketing and, and, and why you like them.

Amanda King:

So I think I'll start with the why because I think it's so important to start with the why, you know, in real estate, real estate is customer service and an experience, it's not sales, you're not selling something that people don't need, you're selling something that they need, and they need guidance through the process. So what I especially love about first time homebuyers is I have a consulting background, and I get to treat them like a consultant, a third party person, an objective person who can really guide them through the process, this is the biggest purchase you're ever going to make. So you get someone who is looking at it as an a financial investment as well as your first time home. Um, you know, when I'm sure anyone who's buying their home first time wants to know they're buying something, that's a good investment. And for me, it's changed my life. So I'm selling something that I 100% believe in. And that's why I love first time homebuyers like, just third, it's a big deal for them, it's the biggest purchase of their lives and you get to be part of that experience, you get to guide them, you get to hold their hands and hopefully make them have a great experience. Or the very least get them in the home where they take a deep breath and say, Oh my gosh, we bought a home. Um, and you know, it's just a little bit different when you get that, but then you know, what's cool about that, and why I still love for some homebuyers is they become second time homebuyers. You know, most homebuyers own a home from for five to seven years. So then to you know, and that was kind of the cool part this year especially, was I started having people I've sold houses to my first or second year in real estate reach out and say, Hey, I'm thinking I want a second house. And then I get to bring out more of my consulting experience and say, okay, you have three options, and most realtors won't. They'll say, I want to sell your house. Um, some Well, I'd say a good chunk will say, Okay, let me sell your house and help you buy a house, you know, where I kind of stop and say, okay, what's your goals with real estate? Do you want to rent your house and not everyone's a landlord? Like we've talked about a little earlier before this podcast? Not everyone's allowed more. Um, but also, I do have an Airbnb property in southern Utah. So I talk about my experience with purchasing a second vacation home, do you want to sell and buy that? Do you want to leverage your property and purchase a second home? And then there's just moving on to the next house? So it's nice to have someone who's on your side that's exploring all three options, so that you walk away knowing Oh, wait, I could have done that, you know, you're not missing out on potentially becoming a home investor. Again, not it's not for everyone, but at least your realtor or myself, I'm able to have that conversation. So, of course, that's why I love first time homebuyers, because they become a lifelong journey, they really do. I really feel that way. And that's why I love them, you get to start from the beginning. And you get to see them through their home buying journey, because it's not their first house.

Ron Pippin:

Yeah. And I I'm in 100% agreement with that, because I've been in this a long time. And so people that have been first time homebuyers, I have seen them buy again, and again, and now their kids are buying. And so you know, they're referring those people, and then their friends are buying and they're referring those people. And so it just mushrooms out. But you only get that going back to our previous conversation of making sure that we are staying in front of them and letting them know that we are still in the business. And otherwise, people like I said, people don't think about you near as often as is we think they do. And so we have to remind them that I'm still in real estate. I'm still I'm still a lender. I'm still a realtor. And I still want to help you when that time comes. And if you have questions, let me know, you know, if you have something you want to bounce bounce off of me if it's building your portfolio of real estate. If it's if it's a question on what can I qualify for if it's a question on what's my house worth? And what's the advantage of buying versus or selling versus renting it you know, there's there's a dis advantages and disadvantages both ways. So if you become that consultant, just like you said you have a consulting background. If you You become that consultant to them, then they're going to call you. And they're going to be referring people on buying and, and when they are buying, they're going to call you again. So I think it's really important, just like you said, is to continue to, to nurture those relationships. So that, especially because you're, you're young. And if you stay in the business for a long time, you're going to have a lot of people referring people to you, over the next 30, whatever years that you know that you still want to be in and still doing this. So, yeah, that's awesome.

Amanda King:

It's really true. And even just like those questions that you asked, like, you know, how much is my home worth? Like, you know, I guess going back to that you're not really in their face, you're answering really valuable questions like you're such a valuable resource. And you're right, like, you're not so much saying, Hey, I'm a realtor, are you looking at buying or selling, but you're like, hey, I've got value here. And don't forget about me, because I want to be your go to consultant for real estate. I'm your go to consultant for lending, I have valuable answers to some questions, you might be thinking on the back of your mind that you want to ask me, and that's okay to ask me. Um, I think that's the kind of the right angle to go is, we have so much value to give, and we're not maybe showing that, you know, five years down the road, you I do get a little complacent. This markets been a little crazy, this end of the year, I've been a little like, just focused on my current buyers and sellers. But you know, I love all my clients, and I always want to be a resource to them. And that's all you really have to let them know and find ways to do that answer their questions, even every time the tax notice comes up, you know, explaining that to them? Yeah, that's such an opportunity to touch point them and you know, they're getting it and they're like, what the heck is this? Do I owe this much money? Or is it getting paid? You know, it's a, and that comes out every September, November, you know, October. So you're, there's a chance to call your clients or reach out to them?

Ron Pippin:

Yeah, that's a good point, as I'm taking the opportunities when when they're available, even though you think that, you know, I have people that call me that have been in their house for five, six years. And they are getting that tax notice. And they still call me and go, Ron, I thought this was in, in my escrow. It is, let's just talk about it. So it's a good opportunity to just sit and sit down and talk to him about about that. But it's it's just, it's just another opportunity to continue this to, to nurture that relationship. So take those whenever you have them.

Amanda King:

Exactly.

Ron Pippin:

Those don't think of those as Oh, man, they're calling me again. It's just like, No, those are great opportunities and and pick those when you can.

Amanda King:

My favorite people, and I'll say it on this podcast are the people who check in, you know, every year, and they're like, what's my home worth? You know, they've gotten the habit of calling Amanda once a year, or, you know, sometimes I'll reach out if they've reached out a year or so ago. And I'm like, Hey, your house is finally where it needs to be. Um, you know, so like making that note, but those are my favorite people saying, hey, wait, what's my home worth? And like they might, their goal might be to refinance. So they want to work with a lender, not necessarily me. So I'm doing something for free for them. But I certainly think, okay, I'm honored. They think I'm the first person to tell them what their home is worth, you know, and I have a lot of wins with that, too. I've fought appraisals quite a few actually lately, and most appraisers don't change their values. I helped one client. She's just casually asked year over year, what's my house worth? I helped her get it. So where she could refinance $10,000 more. So there's such value in getting a realtor to help you with those things.

Ron Pippin:

Yeah. Oh, huge value. So I'm glad you bring that up. So you mentioned a little bit earlier. There's a couple things I want to get to Well, maybe more cuz. Yes, as we go along. So one of them is is is during this time of COVID the markets changed a little bit. And so tell me how that has, you know, we talked a little bit about first time buyers, but how has this how has this market been for you? How has this changed your real estate game?

Amanda King:

So I will say it is really challenging right now since probably July. Um, real estate is challenging for first time homebuyers, because most of them are in that sweet spot of under 400,000. Guess what? Everybody's in that sweet spot and can afford under 400,000. But we're in a shortage, an inventory shortage. We do not have enough houses to show. And what's really changed the game for me was I was one of the lucky ones my clients who bought during the height of COVID when like Everything was shut down, restaurants were shut down. My clients were like, I need to move here no matter what, or I need to sell no matter what. So I got really lucky with those experiences, because those buyers who bought during the height of COVID, I'd say end of March, April, um, they we got to negotiate, we got to ask for two and a half weeks for due diligence, which, you know, sometimes we have to ask a week because it's so competitive. Um, so it how it has changed from that is I got a taste of the most balanced market at the height of COVID. And then I got to taste the most aggressive market houses are gone in 24 hours, you know, I'll have a client send me a house. And if it's been on the market for three days, I usually will get someone who's just starting to look, and they'll be like, I want this house. And I look and it's been on the market three days, and I'm like, we just started looking today, it hit the market three days ago, it's gone. Yeah, it's really hard. Um, you know, if you're not going in, especially Salt Lake County, or the nearby counties here, if you're not going in 10 to 15,000, right from this start with your offer, you're probably not going to get the house. It's just in a very aggressive market. And that's 100% more reason to hire a realtor and someone who is full time you know, who has a pulse on the market. Because six months ago, this is not the same market as six months ago. And if you don't have someone who was working through COVID, and through this whole year of 2020, you won't have someone who is able to suggest you ways to win out of 20 offers, you know,

Ron Pippin:

It's still a full time realtor, that's a really good point. It's a full time realtor, or turn and navigate this yourself. I'm just telling you that in this market, you're not going to navigate this yourself. So not having having no representation is is you're going up against professionals that know how to navigate. And so it's you're just you're fighting a losing battle. But having somebody that that's full time and understands the market, understands the listings, understands what's coming on the market, they know what's there, they know what the price points are, they know what a house should be selling for. It's just a you can't do that by yourself. Unless you're basically trying to spend the same amount of time that a full time agent is doing. It's just like, so anybody that's doing a job is is a professional at their job, because they spend eight hours or more a day doing that job for years. And so they're going to get really proficient at it. And until you can do that, you can't have the same level of proficiency. And you can't have the same experience level. And you're not going to be able to navigate this kind of this kind of, of market that a professional Realtor a full time realtor can. And so trying to use trying to do this on your own without a realtor, or even No offense to part time realtors because I get it, it's tough business and a lot of people have to have to do other things. Because not everybody can make it in this business. But if you're not using a full time agent and especially don't do this yourself, you're just not going to the chance of you buying a home is probably not very high. Does that make sense?

Amanda King:

It makes so much sense. It's it's such an aggressive market. And that's why I go back to the full time realtor because I feel like for the last three months I've been on call I if you don't have a realtor who's not being like if they if you send them a house or they send you a house and you like it, and their responses, when can you go see it? Then, you know, then you're not hiring the right realtor, because one your realtor is probably that's full time at least someone like me is going to say how soon can you see this because you got to see it today or first thing tomorrow at the latest. You know, if your realtors like oh, let's try and three days, it's not going to be available, it's going to be gone. That's how fast houses are flying off the market. And what's crazy is you know, especially in Salt Lake County and the shortage, this isn't just buyers under 400,000 this is I'm experienced in it with buyers under 700,000.

Ron Pippin:

I've got I've got a couple buyers right now that are in that $700,000 range. And I thought oh yeah, you know, when I first thought with that, yeah, they're they're gonna be fine. It's like no, they're they're in competitive Have bids in those houses, like a year or two ago 789 hundred thousand dollars, it's to say you're the only you're the only offer on that not the same now, it's just like, there's lots of offers coming in on those.

Amanda King:

And prices are all over the place right now just because, you know, we're dealing with appraisal issues and just like, you know, that is something that we're running into as realtors. So you don't have someone on your team trying to, you know, pull comps, before they put in the offer, because that's part of your strategy. You know, if you know a house, if you're pulling comps, and the house is worth 20 grand above, and they just price low, because maybe the sellers just can't handle a week of showing the house, you know, but if they priced a bit low, then you know, right from the get go, okay, guess what we're going to 20 grand above ask, because that's what it's worth, you know, or we're going to go this much above and be this aggressive, you know, so it's all strategy. And if you don't have someone who knows, there's, there's like 10 different ways you can go about putting in a solid offer on a house. It just depends what's listed for you know, who the agent on the other end is, you know, building that rapport and then timelines and just working with the right lender to.

Ron Pippin:

So you've mentioned going in if and knowing your market, so, and having a house that's priced below where it should be in pulling comps, there's actually a strategy and in pricing a house a little bit below market. So a couple a couple episodes ago, Rob Moser actually goes over that strategy. So if you want to hear about that strategy, it's actually a good podcast go listen to and it's really interesting. So anyway, and those, for those that are listening to this one, go back and listen to that one, because that's a, that's a great for you, realtors, that's a great strategy and can create a lot of a lot of interest in a property. So you had mentioned a little bit about first time buyers. So we've talked about first time buyers. And I mentioned that it was my niche, and and you love them. And actually, I love them too. So there's lots of lots of different programs, first time buyers with lots of different grant programs for first time buyers, we talked about a little bit about the markets a little more difficult from COVID. And from a lender's perspective, it is a little bit more difficult. Because once this what so I work for a company that that we prided ourselves in no overlays. And what that means is the front, Fannie and Freddie guidelines, if they say they're going to, they're going to buy the loan, then we then we did the loan, we had no lender overlay. So like if there's a credit score overlay that, that maybe some lender says hey, I'm not going to do a loan over over 640. And, and, and FHA, you know, we were doing loans down to 500. And now there's, it's not as easy to get those loans done. But it's just like if the if the if Fannie Freddie Jenny, USDA, they said they're gonna do the loan, we did the loan, that'll change at COVID. And so then there's all kinds of overlays that came in because we didn't know if if somebody is going to have a job and, and there was a lot of a lot of Michi type programs that started not funding, funding those loans. And so our pool, and this, this affects you, as a realtor, those our pool of, of lending started to shrink a little bit, then it made it more difficult for people to qualify for, for mortgages. So that changed the landscape a little bit too, even for first time homebuyers, because some of those first time homebuyers, even some of the grant programs aren't we're getting a little more difficult to fund so but just know that that they're coming back. There are first time buyer programs that are out there, you there are grant programs that are that are out there. They're not always the easiest things to get done, but but they're there. And as long as your lender is approved and knows how to work those programs, and then they're there and can help you can navigate that. And I know that you're aware of those too. So as also important to use an agent that understands those because as they're making the offer, sometimes there's some little things you have to make sure you're either whether there's closing costs that need to be asked for, which changes the landscape of that offer as well. But there's there's having a team lending, real estate title, having a team that understands those those type of programs and the first time buyer buyer round really makes a difference.

Amanda King:

Especially right now you're so right, I'm having a lender who at least knows the grants and can explain them to client. So they don't, at the end of the day, they don't want to feel like they're missing out on a great deal. You know, interest rates are low. So we are getting some buyers where this might be their last chance to buy a house in Utah, you know, it's getting really expensive here. And having a lender who at least has knowledge of the programs and knows where they fit best. That helps tremendously, you know, because I'm busy trying to show them a house in less than 24 hours, if I know my lender can just take care of them build their confidence in what they're buying. And you know, you have a title company that you don't have to babysit, because there are some amazing ones out there. And there are some that are a little terrifying. But when you It goes back to that great team, when you have that great team, you can really achieve what you need to for the buyer and get them in the house because it they aren't the easiest deals. I really joke. I was talking with another realtor the other day, you know, an FHA buyer, Federal Housing loan buyer was zero percent down. Those are, if your realtor gets you in a house in this market, the performed a miracle in my opinion.

Ron Pippin:

Yeah. Yeah. So one last thing, I think that you had mentioned, is as people are moving, you talk to them about, let's talk about some of the options. And I think, I think that's, that's your you're a wise realtor, especially for your age, you're a wise realtor. Because a lot of people, you're right, we'll just say, well, let's just sell your home. But there's more to real estate than just buying and selling. And you've talked about investments. And not everybody's going to be a landlord, because I've been one and, and, and I think I think and I not now, but only because I just think I had the wrong advice. Because they didn't understand there's just like being a realtor, there's more to showing house. There's more to to being a landlord than just collecting rent. And so and so I know that now I just didn't know that then. So let's talk about what what are some options? What What can people do? Instead of just selling their home and buying another one? What what are some of those options?

Amanda King:

Yeah, so if you don't have a realtor that saying let's talk options, let's talk to a lender. Because we're a team. You know, when you help buy a house, you need both of us. You're when you're building a portfolio, you need to talk to both of us. Because right now with low interest rates, it might make sense to upgrade and rent your current house out or sell your house, take the proceeds and buy but you might just love living where you are. And you know we're up in Salt Lake. A ton of people have loved buying second properties in St. George and guess what? The Mark if you've owned your house for three years at least, you probably have some equity. My husband and I are perfect story of that. We bought our first little house we had to fix it up of course the little Sugar House house. But

Ron Pippin:

we love Sugar House.

Amanda King:

I call it sugar hood we're kind of close to it. But like I run through it on my morning run so it's close enough. But um, yeah, anyways, we bought this house and it was just like a little gem for us. You know, I joke with people I had one client tell me he's like, oh, Amanda, I'm a first time homebuyer I don't have a rich uncle. And I was like, you know what your house is going to be your rich uncle because it's been mine. And we bought this house. And the value already has more than doubled on the purchase of this home in less than six years. So, so lucky. We built some equity fixing up the house as well. Well, two years down the road. We're driving around southern Utah, and we drive past a little community and case in my husband was like, I want to buy a second home here. And six months later, I have a fellow realtor had a listing down south and he was like, This is the least expensive house in this neighborhood. I'm going to look at it. And we didn't have the money. This was supposed to be something we did in five years. And we said wait a minute, we have equity in our house. We can pull some equity, you know, because we just didn't have the money at the time but we really thought this was a smart move. And we've got to buy a second home. You know like that before I was 30 that's insane to know. I

Ron Pippin:

That makes me smile. I love that story. Yeah.

Amanda King:

And so we Airbnb it as a Canadian I remember being like, I just have two little palm trees in the back of the house. But I'm like I own a palm tree. But it was a really exciting time. And we still own the property. And it's gone up in value as well. And with COVID, we are getting people who are renting for a week at a time, not just a weekend. So we've been really, really lucky with this property. And now we are actually looking because interest rates are low, we're actually looking at making a move where we purchase our next home with some sort of mother in law. So that will, so that's going to be our next move is take advantage of the low interest rates, and buy that next property with the mother in law. So we're subsidizing our mortgage a little bit, but, you know, every everyone's move is gonna be different at a different time. So it all goes back to that. But I will say this year, I've, I've had a lot of clients where they have rented their properties. And they have two properties in Salt Lake County, and what a win is that, you know, we're running out of homes and land. And if you own two properties, it's a win. And if your realtor isn't telling you that are actually saying, let's talk about renting, then they are doing you a disservice.

Ron Pippin:

So as a as for those realtors that are listening to this, this podcast, or watching us on YouTube. That's that's an important aspect to remember in your marketing is that you need to go in as a as a consultant aspects. And look at this, all right, and look at all aspects of the of the market and all aspects and all options for your client. Because there's more to just getting a listing, if you are consulting that buyer for their needs. Now they're going to look at you as instead of just a real estate agent, they're looking to you for solid advice to help them in their long term strategy, which in turn, can turn into for more business than that one sale. So I think that's a really important strategy that Amanda brings up is don't overlook talking to people about investment opportunities. It's not going to be for everybody. But for those people that it is good for. They're probably going to buy more than one in the long run. And so it's it's a great, it's a great opportunity for the seller, or the buyer, and it's a great opportunity for you.

Amanda King:

Exactly. Great advice, solid advice. I love it. Um, it really is, you know, you can really build some wealth through real estate, you know, whether you own just one property or 20

Ron Pippin:

Well, Amanda, this has been this has been fun this has been really it's been really enlightening and really eye opening. So I appreciate you sharing your time. I love that you have a a sharing mentality because not everybody wants to share their their so called secrets, they're afraid that they're going to let the cat out of the bag and it's going to hurt their business and I've only found that the more I share the more the more it's just more comes back to me so so I appreciate you doing that same thing. So how can people get a hold of you if they want to get hold of Amanda?

Amanda King:

Oh great question you know you can email me at Amanda at King realty utah.com but also you know you can find me on Facebook Facebook Amanda King real estate. You can also find me and this might be a fun way just start following me on Instagram at Amanda dot n dot King. And I do share a lot of stuff that I do on real estate on my Instagram as well. So those are some ways last

Ron Pippin:

name her last name is king. So you can it's k i n g like for the crown, right?

Amanda King:

Yeah, yeah. Okay,

Ron Pippin:

so I just wanted to make sure because sometimes, of course that's just because I'm a little older but I hear sometimes team Oh.

Amanda King:

Canadian accent

Ron Pippin:

Actually, I know I know that you say that. Okay, now I hear it but I didn't really notice that before. Well, yeah, so Amanda King Yeah, get hold of her. She's, she's I've been I've been loved talking, talking to her. appreciate you taking the time and if you want to get hold of us, it might me or my team. The best way is just Call our text. Our phone number is 801-628-7667 you can email us as well my mine is Ron out the Pippin team and that's p IP p i n.com. Ronald Pippin teen.com you can get get me there. And anything else you want to leave us with any words or words of wisdom,

Amanda King:

words of wisdom, um, you know, just if you're going to do something, do it 100% that's my best advice, especially in real estate, you got to go all in and all

Ron Pippin:

that, you know, I can't I can't even improve on that. So appreciate that. And, and if there's anything you need from either one of us get a hold of us. And we will catch you on the next episode of agent versus lender.