Agent vs Lender

How to Combat Today's Crazy Market

January 14, 2021 Ron Pippin
Agent vs Lender
How to Combat Today's Crazy Market
Chapters
Agent vs Lender
How to Combat Today's Crazy Market
Jan 14, 2021
Ron Pippin

This year has presented the industry with lots of challenges, but what if they could be solved with simple tips and tricks?

This week on the podcast we have successful real estate agent Darin Kidd. He shares with us the current market struggles and ways he has overcome them to best serve his clients. Ron and Darin cover everything from agent/lender relations to first time home buyers. It's a crazy market out there but there are ways to overcome them so you and your clients receive the best results. 

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

This year has presented the industry with lots of challenges, but what if they could be solved with simple tips and tricks?

This week on the podcast we have successful real estate agent Darin Kidd. He shares with us the current market struggles and ways he has overcome them to best serve his clients. Ron and Darin cover everything from agent/lender relations to first time home buyers. It's a crazy market out there but there are ways to overcome them so you and your clients receive the best results. 

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:

Welcome to another episode of Agent Versus Lender. And today we have with us Darin Kidd with from home rebate. Really, really deep. So cool. Thanks for thanks for taking some time there. And I know. Yeah, I know it's a busy time of year. And Sure. So what tell us just tell us a little bit about yourself.

Darin Kidd:

Okay, I started in real estate almost 19 years ago, in 19 years in February, at the time, I was in construction, contractor, building houses. And kind of thought to myself, one day when I was had some people that were house was I was working on came through, and I kind of sold them the house. I'm like, this is the builder you want to work with. I work for the million builders. This is the guy I would have built my house. I had to build my sister's house. His name was Ken Mitchell at the time. And I was young couple I just sold them on the house. Right? This is a right around 1991-92. Probably. I just barely first started. And I remember 10 a builder called me up and said You sold that house for me like, okay, I can't really pay you. But you know, I would love to I would love to like, if you ever decided, you know you wanted to sell real estate or anything like that. So it's kind of stuck in my mind. So he's

Ron Pippin:

over there giving you high fives. Yeah,

Darin Kidd:

eah. And I thought hat was really easy. And I go, here was nothing, no one's tanding for me other than I hought I really if someone if I ere walking through this house, nd I didn't know anything, I ould like someone to tell me if his was a good builder or a bad uilder. Yeah, totally whatever. eah, you know, and I'd worked or builders, I'm like, I topped working for and thought, ou know that it was probably ot a good fit for me and what I as trying to do, as far as, you now, quality versus cost, ight. I was never the cheapest ubcontractor out there. But I ared about quality. And I asn't going to compromise that or me. And I thought these eople should probably know that hen they're going through this ouse that this is a builder who oesn't compromise. And so to ake a long story short, when I elt like I was wanting to ransition from construction, ut I didn't like construction. t's just I knew that it wasn't omething long term that my body as going to hold on to here. eah, absolutely. I was already eeling the effects of doing oncrete. It's hard. It's hard ork. I love it. But it is hard ork. And, you know, so for four ack surgeries and two shoulder urgeries later, I thought maybe could sell real estate.

Unknown:

So that transition

Darin Kidd:

transition happened. And I went into actually new construction when I first got into real estate, selling something that I felt familiar with and goodbye.

Ron Pippin:

Oh, yeah. Well, you kind of already did that. You know, you're already sold a house. That's new. Yeah. And so the thing is, I mean, it's a natural transition right there.

Darin Kidd:

Yeah. So, so that was kind of my start. And then I just went into real estate with with no fear. And I thought I worked. I worked seven days a week, it was my own company. So I never stopped working. If the sun was shining. I was making hay. That was the way I thought Easter Father's Day, it didn't matter to me what day it was at the sunshine. I'm working. Because I didn't know when when it was gonna start raining or snowing and I couldn't do cement, right. And I had a family to support so I thought, I'm gonna work circles around everybody else. I'm not afraid to work. This is this isn't even work. Like I'm not I'm not out there killing myself all day, I have to go open doors for people. I almost felt like, this isn't even right. Making Money open up the door instead of like, seriously working and then, you know, you get into like, Oh, this is work. It's a different kind of work. But trust me it's work.

Ron Pippin:

Yeah, you know, work ethic.

Darin Kidd:

Stay with me.

Ron Pippin:

Yeah, I think I think a lot of people have a look at real estate agents. And they and they thought the same thing you did Hello, I'm just gonna go in and open up doors and go look at houses and get paid really well for it. But that's only the side that that the consumer sees. It's not something the business side of it is far more grueling than people realize.

Darin Kidd:

It was a it was eye opening to me. I thought it was just going to be kind of more how to how do you how do you look at something from the outside, as opposed to from the inside? Right? It always looks like Well, that's easy. I could do that. Right? And then when you get into it, you realize it's not rocket science what we do, right what you and I do, we have to be good at it. We have to be you know, there's there's things that definitely, you have to know you have to be knowledgeable about. But But at the same time, it's just work ethic. For me, it's just work ethic and your ability to take care of people. And I felt like that was something that I was already doing and wanted to do and like doing. So the transition was natural, and it went pretty seamless for me. And I, I loved that feeling of helping people get into something that was gonna be probably the biggest purchase of their life. Cool. Yeah.

Ron Pippin:

So you said, as you were talking a little bit before the podcast, you had mentioned that. You've been in this, how long?

Darin Kidd:

Give me 19 years in February.

Ron Pippin:

So So you've seen a few ups and downs? Yeah. So you. So you went through the crash of Oh, seven, right. So tell me, tell me a little bit about, you know, the before the crash, and during the crash, and after the crash, how did you there was, there was a lot going on right there. And I know a lot of people, you know, including myself really had a rough time during that crash. So

Darin Kidd:

Oh, it was it was definitely tough. And I feel some sense of accomplishment of being somebody who made it through that because it was, it was one of the biggest crashes since you know, the Great Depression.

Ron Pippin:

Yeah, in fact, if you look at charts, too bad. I can't show a chart during the podcast. But there's charts go all the way back to the Great Depression. And you can see that housing for the most part goes up in value. But during that time, went down. And that's it, there's only four or five times when real estate actually dropped down, you can see on a chart, and that was by far the biggest drop since the Great Depression.

Darin Kidd:

So the way that I made it through it wasn't, wasn't easy. I didn't make it through unscathed. But I, my background in construction helped. And I partnered with some people who had cash, and a builder who had cash, and a broker who was pretty sharp, Todd Johnson, at the time, and he wasn't possible. He was my broker. And we, he picked up these lots from the bank, and the builders like I'm going to build on them. And I'm going to build these cheaper than what people can do a short sale for. And even though there wasn't a ton of buyers, there were people who had money, there were buyers, there were buyers, you just had to find them. And so I worked with this builder, and I was selling brand new houses, two stories that now we're going for 600,000 for 275. And I was telling people, when they walk through the door, I'm like, I can give you this brand new house for the same price as what you're going to get a short sale from the bank, maybe maybe a little bit more, but you're getting a brand new house, and I'm telling you, the value is going to be there when it's all gone. And I was preaching from day one, it was going to go back up. And I told everybody that I could talk to and would listen to me that I knew that was going to rebound now.

Ron Pippin:

But that comes from experience. Yeah, let's totally talk about that. So what what are some of those ways I think that's, I think that's something that would help people that are listening to this podcast, and even maybe some agents that are struggling and trying to figure out what to do. Not that we want to give away your secrets. But you know, you as a, as a giving person and have that abundance mentality. It's just like, there's enough business and we're

Darin Kidd:

all in this together, right, let's totally work together. So, what I've seen and I love first time homebuyers, I love it, that first time homebuyers want to get in front of a first time home buyer, I sit down with them, and or I'm on the phone with them. And I give them 20 to 25 minutes of this process. And they for the most part, they appreciate that, right? Because they've had so much show my house, they've had someone you know, tell them what's you know, some a little bit about my house, but I'm like, I'm going to take you from the beginning. And everything you need to know to the time we close on the house, you're going to know everything in between, and what it really takes to get through this process. So they are educated number one, and they also it gives you a little bit more confidence because it can be overwhelming. I'll give an example. I bought a home in Buffalo recently. And I thought I'm just going to be my own agent. Because I'm an agent, I've been doing this almost 20 years, I know what I'm doing. Everything in Buffalo is different. And I thought to myself, alright, if I'm gonna buy this house, I'm going to use an agent, right? I'd be kind of hypocritical if I said, I'm not going to use an agent. I'm an agent, but it's a different, it's a different animal there. The laws are different. Everything is different, the markets different. And I'm like, how do I really know what the market is? I didn't just sell 100 houses in Buffalo last year. So I hired a professional in in Buffalo to represent me. And I thought, yeah, I could probably save some commissions if I represented myself, but what are they doing myself a favor, I preach this to people all the time, you need a professional, you need a professional to help you who's good at this market. And even though I'm a professional, that's not my market.

Ron Pippin:

Yeah, and that, and I think that's really important for people to understand. And it's very astute of you as well. Knowing that even though you're an agent, and you could sell property if you were licensed there, and you could you could sell or buy property there. You know that the markets different. And so by circumventing people that work there on a day to day basis, you can actually be hurting yourself, right? You're You're just you could be paying more for a property than then really you had to

Darin Kidd:

Yeah, so so I thought to myself, This is what I preach every day. I tell people you need a professional, you can do this on your own. And so the negotiations I could I would have felt comfortable with even though the contracts are completely different. I could have figured it out. But the market I didn't know. So. So what I've been doing, and I love first time homebuyers. So I'll tell you just really quick a little bit about my company and how we're different. So I wanted to give back. I love giving back and I love helping people. So me and my broker and my my partner, Chrissy young, I have a partner and by the way, I love having a partnership. It's it's freed up my life completely.

Ron Pippin:

Yeah, makes that that's like a whole different podcast. But having partnership having a team having somebody to help you to free up time. It's like, life changing.

Darin Kidd:

I'm telling you, I told her I'm like I don't know what every day is. I don't know what I do without you. So yeah, so my partner, Christy young, and I feel like we both have that same mentality we want to give back. So what we've done is we've created something that's called a rebate. And the rebate is basically if you are working in the military, if you work if you're a health health care worker or you are an educator, seeing people who serve the community, and everybody does something to serve the community. We always have a rebate of some kind. But those people that are really giving to the community and my mother in law was a was a school teacher and I always thought what she does and what she does After hours, never compensated for monetarily in my opinion.

Ron Pippin:

Right. I totally agree with that. So I mean, people may have a different opinion opinion of COVID. But I don't think they realize what's going on behind the scenes either.

Darin Kidd:

Yes. Right. So and you were saying earlier your wife's in health care, right? So yep, yeah. So you see it. And so I appreciate what they're doing. And I get back. So we give a portion of our instead of just keeping all of our commission, we give a portion of it back as a rebate, to say thank you for what you do to our, for our community and for helping and I love it. For me, it feels like I, I have, and especially with first time homebuyers where it's so hard to get in the house, I use it every penny, I'm like, I want to get back to you so that when you move into this house, you have some cash, you have some money, because you know, when you move into a house and you just put everything down, you cost money to move, you forgot that you have to go buy garbage cans, you have to go blind, you have to buy a frigerator you've bought furniture, anything, just the cost of moving, you forget how much it goes into moving and the cost of that. So I love to give back. But what I've done, I felt like that helps my clients get into a house is I try and find homes that are not on the market. And that's not necessarily unique. There's a lot of agents who do that. But I, I go and I have relationships with builders. Because I, if there's a builder in Davis County, I know them I've worked for them, worked with them as a subcontractor, or as an agent. And I felt like, I'm gonna go find houses that aren't on the market yet. Cool. And I'll go to past clients or I'll go knock on doors, or I'll send out flyers. Or I'll say, I've done this. So many times, that can't even count where the clients like I love this neighborhood and nothing comes up, I'll go knock on doors, and just and people are very receptive, you know, some people like get out of here, which is fine. You know,

Ron Pippin:

I have that all the time.

Darin Kidd:

Yes, you can have that with anything that you know, you can't be afraid of life or trying to put things out there to help other people. And I just, I thought that if I could hit up, get it before he hits the market, and we don't get into a bidding war at the same time. I have to be honest with everybody. So I tell them, I said I have a buyer, the markets great. Here's what I think you know, your house is worth here's what I think it would go for in an open market. But if you are serious about selling, you have to look at the option of putting it on the open market and opening it up to a bidding. Because some because I don't feel like Yes, I'm representing my client 100%. But I need to be honest, right? I don't ever want to feel like I'm not being honest with someone, I wouldn't want anyone to tell me or to do something me that I wouldn't want done. Does that make sense? Sure. So someone's come to me and say, Hey, do you want to sell your house? I'm like, sure. What's it worth? Well, it's worth this. Okay, cool. So for that I trust you. Here's the numbers. Here's the comps that you showed me, right to justify that this is what the price is, oh, well, that person didn't tell me that things are going for $20,000 above what comps are showing or what what's happening in this market. And I feel like so I'm doing that right now with a client where the house is not on the market. I'm trying to get a deal done. But I'm also letting the sellers know, you can put this on the open market, I can get you above what the comps are showing. You don't have to put on the market. No one has to go through your house don't have to worry about COVID I'll save you real estate fees. I'll just I'll do anything I can to get these first time homebuyers into a house. But understand you can put that house on the market and you might get more than what we're offering. Because I don't ever feel good about not being in full disclosure. So one thing that I think separates me and Christy is, is that I am I'm 100% disclosing what I'm making, what I'm doing, how it works. I feel like I love that transparency, and I don't have anything to hide. I feel like we earn our money and I feel like we do a good job and it's worth it. So, for me, I know a lot of people are kind of weird about what they make. Not everybody, but some some people were kind of weird or don't like to say I I'm 100% transparent with everybody what what my party, it's gonna show up on the on the closing documents anyway, right? They're gonna know anyway, they're gonna know. So you might as well just be upfront and honest to begin with. So so that's what we do, as far as trying to help clients get into house and then obviously when you're making an offer, you just you boost up your clients, and you you have them write letters you say whatever you can to any advantage you think this might not be advantage it might be. So anything you can do to give your clients an advantage. And the other thing too, and this might be helpful to some people were thinking about buying and moving up. They have a house to sell. It was we were in this market where you could probably Do a contingent offer, because they know your house is gonna sell. Right? It's priced $100,000 less? Yeah, sure. Not anymore. When I say not anymore like, there's no, what I tell people, nothing's impossible, this is impossible to get a house under contract when you have a home to sell.

Ron Pippin:

That's not on that's not on the market. And they're not trying to do anything because I've had multiple people tell me the same thing. Well, I have this house to sell. But I don't want to put it on the market. Because I don't have one under contract. It's just like, it's just not gonna happen.

Darin Kidd:

Right? And and so I have a client. And I told him once we get under contract with my last two clients, it was under contract, nobody cared. They're like, nope, we have you still have a contingency, right? Because that house could fall through at the last day on the closing table? Sure. So why would we take your offers, we have 20 other offers, we're just going to leverage your offer to get a better offer from someone who doesn't have a contingency, right. It's almost at the point now where I'm like, we need to get your house sold. And then like not everybody has family or somewhere they can go. So what I've been doing, and I want people to feel comfortable. The other part too is it's scary. Like, well, what if we ever find anything the market so crazy?

Ron Pippin:

And sometimes you feel that way?

Darin Kidd:

Yes, so so so what I've been doing that it's been helping them kind of ease that as I make it contingent upon them finding something. And I say, I'm gonna get your house under contract, and there's enough buyers out there that they're willing to wait. You know, they're willing, they'll do anything to get into a house. So they're willing to wait. And I've, I've been doing that I've been saying, we're gonna accept an offer, but you understand my clients need to find something, and they may not find something. So they may not even sell it. So they're not obligated in any way, shape, or form to sell that house, if they can't find anything. That way, it takes that pressure off them of Alright, well, at least I know that I can find something. Now the caveat to that is the house isn't sold, right? It's under contract. So it's still harder, but you have a better chance, at least if the house is under contract of getting another house under contract.

Ron Pippin:

Yeah, and the first thing that came through my head when you said that is that the house isn't really sold. And when you when the buyers know that, hey, they still have to find a house. And they may have to wait, they may still be looking to for sure. So they could find something and go, Hey, here's one that we can buy. Now, we don't have to wait for this one, and then that deal falls apart. But, but there's going to be 10 more right behind that is to take that place, it's probably not a big deal. But it has helped.

Darin Kidd:

And we have been able to do a lot of times builders now. So let's let's take builders, for instance, really quick, they do a lot of new construction. builders, a lot of them are taking contingencies. So I, I would say the majority of the the builders I'm working with right now I think I have five or six new builds, I can't remember off the top of my head. But all of those I had their house under contract. Because that was the stipulation, right? Like we got to get this house under contract with the builder isn't going to take it or some of the builders will say you have to have it on the market within seven days, even though your bill job is out a year.

Ron Pippin:

Yeah, I was gonna say that, that makes it a little rough for those buyers when they sell their house. Because most people aren't going to put their house under contract and wait a year. So that means they're gonna have to move, they are going to have to move, they're gonna have to find something for that interim period.

Darin Kidd:

Yeah. So So I've, the way that we've handled that is threefold. Some people can do the rent back, which is obviously the best situation for them. Sometimes that doesn't always work.

Ron Pippin:

Yeah. But you bet, coming from the lending side, you don't like your job right from the lending side is like they have to take possession of that property within 60 days. And if they don't take possession of the property in 60 days, not that not that the not that the mortgage company is going to find out. But if they do, then they're right, that they could be in default on their contract. Correct.

Darin Kidd:

So So, so that if it's if it's short term, it's like the houses is going to be done within 60 days. That's the best option. If if they have family, that's obviously family or friend. And the other thing I've been doing is I've been finding people, short term state. So there's a lot of places that are set up for people who travel we're going to be somewhere for business but an extended stay right? Yeah, sure. So it's not a hotel, but it's kind of like a hotel, but you got a full kitchen, you everything's in a in a pod and it's ready to move or it's in storage or whatever, and you're in there for three or four months. And that's that's just part of it. Right? So we're building a house up in North Ogden for some clients. And it's a really custom home, it's going to take a while and it's sold their house up in mountain green and they're going to be in an in that's kind of a situation for probably close to a year.

Ron Pippin:

It's inconvenient, but it's doable.

Darin Kidd:

It is and and it's really the only way to A lot of builders are willing. Now the other thing too is sometimes people can afford both right? Oh, sure, yeah. And I used to say, you gotta be able to prepare to make both mortgages. So let's, let's talk about that a little bit. Because I feel like a lot of people like, Oh, I'm gonna sell my house overnight, and you will, right? If it's priced, right, you have a good day that your house is gonna sell. It's not a matter of if it's going to sell it's when it's going to sell and how much you're going to get for it, basically. Yep. But let's say that you are going to sell because you can you can you can you have the wherewithal to qualify for both mortgages. Okay.

Ron Pippin:

Yeah, sure. So everybody does. But yeah, so let's, let's say that this person does. So

Darin Kidd:

let's say this person does, but it's but but it's tight. Like, this is not comfortable, right? I always tell them, I'm gonna get your house under contract. I mean, you get under contract quit. But understand that that could fall through. And you may have to make two house payments. I've had, I've had a house for no reason, nothing wrong with the house. It's just luck fall through five times. Okay, that's my record. And I'm thinking this house, what is up with this house? I just have one that fell through three times. So when the fourth buyer was finally the one who bought it? And you're kind of thinking like what is going on? Like, what's that, like? Get someone in here and do a voodoo seance and get the bad energy out of this house, but it's just the luck of the draw, right? It's just like, sometimes you're going to get that. So I let people know. Yeah, I get your house under contract. And but you have, you still have to understand that there may be something that goes wrong. And we may have to put it back under contract, and we're starting over that clock. And we may have to do it twice. I I try my very hardest to, because if you're representing the seller, or excuse me, the buyer to say it's not always the highest offer, right? It's who's gonna close? And who has the best offer overall, and you know, that stronger buyers out there? Sure. So we just took a house at $5,000 less than the highest offer because it was a stronger offer. And they had cash, and enough cash they could bring in if the appraisal did come in? Because that's another thing that we're all doing. Oh, sure,

Ron Pippin:

yeah, if you have a cash offer, and you don't have to deal with a lender, you know, cuz I'm smart enough to know that. People want to buy a house, but they don't want to talk to a lender. Yeah, I think if they could buy a house and they had cash, it's just like, I don't want to do, I don't want to deal with a lender. So it's like, just let's just bypass that part. And that's obviously the strongest offer.

Darin Kidd:

So so. So even if someone doesn't have enough cash to pay for all, if they have enough cash to bring in make up the difference of the appraisal short will say so this one that was like, they were willing to say we'll pay it, but we'll pay this price, regardless of what the appraisal comes back at. Okay. That's what I leveraged for my clients, even though the other offer was higher, you knew it wasn't gonna appraise for that, and they didn't have the cash to make up the difference. So So that's another way and and, and then for people who are just starting out in real estate, I, I've preached this since day one, if you don't have a good lender, it doesn't matter how good you are, it doesn't matter if you're the best agent, the best salesperson in the entire world. If you don't have a good lender, it's you might as well not even be in the business. Because if you can't get somebody who's dedicated, qualified, and knows how to put together deals and make deals, work and be on time, and make sure your clients are taken care of, and make sure that I'll have Mike, I'll have my lender call the other agents say, hey, look, these are good buyers, and here's why they're good buyers. And I've been doing this I know I can get it done. And I like I said you do everything you can to get them into that house. So for people who are just getting into this, they understand that without a good one, and I realized that realize that really quick.

Ron Pippin:

So let me let me make a comment on that real quick. So lenders, and the reason why a lender is important is because man, you're a team, you are referring somebody to your buyer. And if that lender messes that up, or somebody on your team messing it up, right, they're gonna point back at you and you're gonna go, they're gonna go, they're gonna go Darren, what is up with this guy, this girl, whoever it is, that's not what it's like, it's just like, Man, you're an awesome dude. But quite honestly, your lender sucks. And so if if you don't have a good team, and and you guys can't work together, and you have a weak link, then that weak link is just going to take you down.

Darin Kidd:

Yeah, yeah. Like I said, you might as well not even be in the business if you don't have that connection with a lender that you feel is going to put in the same effort that you're going to put in and and also is is knowledgeable about the business and how to get deals done. Yep. And make deals work. Right and and knows how to talk to clients and take care of clients. Right. Because part of your job and my job is making clients feel good when they call us at 10 o'clock at night stressed out.

Ron Pippin:

Yeah, you know, they want to know they want they want to know you they want to like you they want to trust you trust you know, they want to they want to be able to trust you and if One of those is missing. It's just like a relationship doesn't usually work very well.

Darin Kidd:

Yeah, 100% correct on that. And the feeling that I always had was, if I'm going to put that faith in somebody else and put my name behind him, I better trust that person. And nobody's perfect, right? I've had, I've had people just didn't get along, or they weren't a good fit, or they weren't a good match, or they caught them on a bad day. And that happens. And some so. So part of what I like about me and Christy is we're on the same page about all of that. And what we've decided is, if we don't feel like we're a good fit for somebody, I don't care if they're buying a million dollar house, we're gonna we're gonna just part ways with them, because they're going to be better off with someone else. And so are we trying to make those things fit that don't fit? And maybe the lender is not perfect. So you have to have more than one lender, right? But they just may not mess with that lender at all. I have a lender is very straightforward. And some people need to be sugarcoat a little bit more, but I like straightforward, right? Yeah, give it to them straight. And some people don't always love that. But for me, I always take bluntness and straightforwardness over anything. And I think that if you have different personalities that are going to mesh and get together and work better together, then you have to have that option. And so sometimes you can just tell like, we're not going to be a good fit, and you're probably going to be better off with someone who's going to be more of a fit for you. Yeah, I don't have to do every deal. That's what I'm saying.

Ron Pippin:

Right? Right. You

Darin Kidd:

don't have to do every deal. There's enough deals out there. There's enough people who want to work with you, and who are going to be a good fit for you that you don't have to chase every deal. Because sometimes chasing those deals that you think I can't let this deal go. You just missed out on two other deals.

Ron Pippin:

Right? And that's a really,

Darin Kidd:

you have to learn that lesson the hard way, right? Yeah.

Ron Pippin:

I can't let this go. That is so true. I say I think we're both are far enough along in our careers, we've both been around a long time. So when you're chasing those deals, that that really you should let go. You're exactly right, though you're, you'll miss out. So you could spend, you can spend days weeks chasing this one deal on trying to make that, that round, that that that square peg fit into that round hole. And instead of going out and getting a two more deal, or three more deals, or whatever. That's that where you're going to mesh, I have a couple realtors that, that refer business to me. And once in a while I get a call from them to say, hey, they were with a different lender. They're just not getting along. Can you see what you can do? And so I totally get that. And quite honestly, I've had it to me, it has happened to me too. And I got a call from the agent go. I don't know why, but they don't they just don't like you. And yeah, I get it. But you know, I tried to get along with everybody like,

Darin Kidd:

how can nobody like me? I used to call my mom and find out what kind of guy I am.

Ron Pippin:

Totally. Alright, who doesn't like Darren? He doesn't like Ron, how can that happen? I am totally 100% agree

Darin Kidd:

with how crazy this market is. So there's there's a lot of advantages to being on a team. So if you ever want to have any kind of life, and right now I don't have much of a life. But I'll tell people, you have to balance things. Which is this is not telling you anything you don't know. But you forget sometimes, right? Yeah, but

Ron Pippin:

there's a lot of people on this podcast, that they will work. Whenever I mean they're working seven days a week. They're working on the weekend. They're working till 10 o'clock at night. And and that's because they don't have a team. Yes. And and I know you have to get another certain levels. But man, it's just like, the sooner you can get a transaction coordinator, probably the first thing you need is a transaction coordinator that you start getting people on your team that can help you. And it is just a game changer. And just like you when you finally have that person, you go Why did I do this sooner?

Darin Kidd:

Yeah. So so when I can go on vacation with my family and turn my phone off. I could never do that. Because especially in this market, you have a buyer and they want to house the house is going to be gone that day, literally that day. And you can't be there for them. It's hard, right? Or like, oh, maybe someone on my team will take care of them. That person isn't gonna make any money. They're doing you a favor, they're not gonna be the same. I guess force that you would be not that they're not going to take caroms I got my own clients I've got to take care of. So when you have a partner who is you can say, go on vacation, turn your phone off, check out. And just be that there's no price you can put on that. So, so I just did that, you know, I just I just did that and Chrissy took care of everything. And I'll do the same for her. And yeah, I get this little anxiety when I know she's gonna leave because I'm like, I'll be working 24 hours a day. Yeah, but but also you have that balance in that downtime. And I tell I preach this too, is that you have to find some way that you can shut off, you can turn your phone off, you can shut off from the world, you can just be and I'd like to be accessible to my clients all the time. I don't mean Call me anytime. I don't answer. It's because I don't have I'll call you back. But I like to, I like to feel like, I'm going to take care of them. And I'll be accessible. And I'll answer the phone if I can. So I've had clients call me or text me 11. Could you talk? Yeah, sure. Or like no, call you in the morning, right. But you've got to find that time where you shut it all down for a minute. And for me, that's, you know, yoga and meditation and working out. Or, you know, maybe I'll play a game of chess online and just shut my brain off from everything else. Because if you don't have that downtime, it can get to you. And I saw that I see that with a lot of good agents where it's like, you're at the breaking point, like you can't keep up this kind of pace, and still be healthy and still have. And when I say healthy, I mean really healthy, like it wears on your health. If you're never shutting down, and you're always going, I appreciate work ethic as much as anybody, but you're not as efficient. If you're always tired, or you're always chasing, you're always in so much stress about what what things you can and can't do and can't get done in a day. So if you're feeling like that, you need to find some way to alleviate that you need to find some way to have some downtime. And I do it every day. Regardless, I don't care what I have going on, I'm going to find time where if it's 10 minutes, I do a little 10 minute meditation, or, you know, you everybody has their own thing that they can do you play the drums, like that's probably meditation for you. And you're not thinking about anything else. Right? Right, right, you just you just hit no scans of film good. And it's everything else has disappeared, right? So I have outlets for that. And you have to take the time. And you forget about that sometimes, because it's so hectic. And it's two o'clock in the morning and you're working on you're still working, you're like man, I need to shut down.

Ron Pippin:

You know, most people that that work a, a job, so to speak. They go to work, and then they come home and they're done with their job, you know, and then they have time to do family stuff and have time to work in the yard. And but when you're in this industry, doesn't matter whether you're a real estate agent or a lender. It's just like, your job never turns off. Right? It's the same people are calling you on the weekends or calling you You know, I've had I've had somebody call me literally at two o'clock in the morning, which is why I don't have my phone in my room anymore. Yeah. Cuz it cuz, you know, they were just, they were just angry. They was just anxious. It couldn't sleep until they wanted to talk to me. And it's just like, Well, great, now I can't sleep. So, so I don't sleep with my phone anymore. But but we don't have that outlet, unless we specifically take the time and schedule it into our schedule. So I think you're right on having that that time to meditate or just to just to turn off even if it's 30 minutes or an hour or you know, even if it's you know, go to lunch I like to go to lunch with with somebody else. But, you know, whoever I just like to have a little bit of time but but you're right, you got to have that time.

Darin Kidd:

I think that balance is important because you're not doing yourself and you're definitely not doing your clients in any favors is not healthy and on a good wavelength as far as your your vibration, your energy and what you have to keep putting out you can only put out so much without recharging. Yeah, and even the best of us fall into it. You know, my client, you know, keep talking about my partner Chrissy it's because I love her. She's the best partner I've ever had. I can I can't imagine my life, how it was before going back to that, you know, like we were talking about early, but there was a time where she just she wants to do so much that she doesn't stop down. She basically like her body was shutting down and I was like, Okay, we got to take a step back. And let me handle more. And you've got to shut down I know you don't ever want to you always want to take care of people but if you're not taking care of yourself, how can you keep taking care of people it's just like a health worker right? You guys stay healthy if you're gonna keep taking care for people and make them healthy. And you forget it sometimes when you're in it and you're working so hard and you're trying to do what's best for people and, and, and it's just part of on what I'm saying is it I know this isn't rocket science when I'm telling people something, but you, you get caught up in it and you forget sometimes,

Ron Pippin:

yeah, I know that sometimes we we are so caught up in our day to day activities that we forget about ourselves. And I think that's a pretty normal thing within our industry and other industries as well. People are calling constantly, and it's difficult to shut off, you know, having that mental health, physical health. And we, we, as an industry just need to schedule it, literally. Put it in your calendar, and schedule that in and, you know, your life will just be different.

Darin Kidd:

I think that's something that as important as any part of our business. And I think, you know, I've been around long enough to realize that, you know, to be at your best, you still have to take care of yourself a little bit.

Ron Pippin:

Well, man, we've, we've gone from building, how you got to be an agent, you gave us some really good ideas, what happened during the crash, kind of about what the market is now? We have some safeguards in place we have. I don't know that we talked about that. But

Darin Kidd:

yeah, so really quick, I think that's important, because I think a lot of people are afraid of this bubble, because it feels bubbly, right,

Ron Pippin:

though, it does feel like a bubble. But there is a difference,

Darin Kidd:

there is a difference. And maybe that's something that you could talk about a little bit. Because that's, that's a lot of that's on your end. And I want I tell people, I don't have a crystal ball, I don't have control over the market. But this isn't the same market that crashed before that market was artificially inflated,

Ron Pippin:

it was totally, anyhow, who kind of kind of foresaw that.

Darin Kidd:

So anything that could could change that we don't have control over? I can't say, Well, I know the markets gonna keep being in this in this, you know, trajectory that it's in, right. I don't know that. And I tell people that I just say, here's my best guess of what's going on right now. There's still more inventory, there's still more buyers than there is inventory. And that's always meaning that the prices are going to keep going up. It's supply and demand is the oldest, you know, equation in the in the world, and the easiest to figure out. So what I think a lot of people are saying to themselves, well, should I buy right now? Or should I wait for things to pop and go down? And I said, that's a gamble that that you can only decide, but I don't know that things are gonna pop things might slow down on that would actually be good. But I don't know that we're gonna have that bubble, because like you said, there are safeguards. And maybe you should talk a little bit to that to kind of ease people's concerns or fears or at least give them the knowledge and they can decide whether still want to buy or or want to wait or how they want to navigate this crazy market. Because once you give them the information, then they can make that decision themselves.

Ron Pippin:

Yeah. So. So I like being interviewed. So there is a difference between now and in back in 2007. So in 2007, is basically if you had a poll for if you could fog a mirror, you could get a loan, there were stated income loans. I mean, you didn't we call them ninja loans. No, no job, no assets, you know, no income, no job, no assets, Ninja. I mean, you could get literally get alone 100% financing for investment property,

Darin Kidd:

above what I mean, you can get above what your you know, the house was worth to put money into it just crazy. Crazy.

Ron Pippin:

It was totally crazy. And so that artificially inflated the values because everybody was buying and investors were buying everybody was buying

Darin Kidd:

houses when they shouldn't have been buying one house.

Ron Pippin:

Right? And there were people that Yeah, you're right, there are people are buying investment properties because they didn't have to have any skin in the game. Right. And and so once that, that once the lenders started, started having liquidity issues, then they started, they started folding. And once one folded, I mean it unraveled fast, like someone showed a false little oh my gosh, it was like we had we would have we'd have 10 loans in the pipeline. And all sudden we don't have an investor. You know, you have you have loans that literally are waiting to fund and the money went away. And that was because everything was just artificial. Yeah. And so today we it's completely different, just as you spoke to it's a it's the economic principle of supply and demand where we have a lot more a lot more people that are moving into the state where

Darin Kidd:

there'slegitimate buyers, legitimate demand.

Ron Pippin:

Oh, legitimate debt demand, right? Because Because if you look at lending now lending is, you know that when you were talking about the pendulum swinging earlier in the podcast, the pendulum has swung and it swung hard from give out money. Like it's candy to, to holding it really tight and making people probably overqualified to get that money. How

Darin Kidd:

many times do you hear? Do they really need this for me? Oh, every day, they call me and I'm not even the lender, like, do I really I'm like you want to buy a house? You've jumped through every hoop they tell you to jump through, that's part of the deal.

Ron Pippin:

Yeah, it's, it's just like

Darin Kidd:

Yeah, this is good. This is good, because this is they're, they're making sure that you really can't afford this house, and you're not going to default on this and the markets not gonna crash. And that's

Ron Pippin:

a good point. And when that and the reason why that's a good point is when the market crashed, and you had all these investors with no skin in the game for investment properties. Guess which ones foreclosed for? You bet, because they held on to their primary residence. They land all the investment property

Darin Kidd:

to start making payments that day. Yep.

Ron Pippin:

So they just you know, everything just crashed. Now there were some people let their primary residence to go to. But so the So anyway, that so we're back to today's market, where it's the pendulum has swung the other way. And it's it's harder to get along. Now this pendulum is starting to swing back a little bit. We're starting to get, you know, a little bit a little bit easy, but I can't foresee it going back to where it was no, no. So that's a little bit about where they put some safeguards in place so that there's not going to be that kind of a market again. In fact, the CFPB sorry, now I'm talking mortgagees. So the government agency that's over lending, has even said there are certain kinds of loans that you cannot do anymore. And so it's, it's made a little bit safer. for investors. When I say investors, I'm talking to people that are buying in the mortgage backed security market, and who's you know where we're getting our money from? So let's make it a little bit better. Makes it a little bit harder for you, for the consumer to get the loan, they have to jump through some hoops. Sure. But,

Darin Kidd:

you know, they're qualified. But yeah, that now we know that the homeowner can make those payments on that, right? You know, totally, there was times before the crash, where I was telling people like, this isn't bad, like, I'm going to make money, because I'm going to sell a house. But this is, this is not a good investment for you. Because you just put you it's so close to your debt to income, that have one bad month happens, you're not going to make your mortgage right now. And I don't want to see you default in a month or two. But money was so easy, and they were just given it out. And you didn't have to do anything to qualify that people were doing that Yeah. And, and I and I, there were homes, I just I didn't sell because I knew that they weren't going to be able to make that more I knew it, like I saw on paper, and knew that they weren't gonna be able to make that payment. And it was it was a bad idea. And also, that was protecting my lender too, right. And as my lenders, you're the one, you're gonna have to pay that commission back, I was gonna be fine. I want my Commission's paid, it's paid. And you have to think about about that as well. So from a lending standpoint, I'm sure that you're glad that people are getting qualified, and it makes it more of an even playing field too, because I'm sure that you are like me, we're gonna do loans like that. And I wasn't going to work with buyers like that. But there were people out there who were and that didn't help. Right now you're competing against people who were predatory, really predatory, that's the only way to call it. Because they knew this was going to be bad, but they saw a paycheck at the end of it. And if you ever put your paycheck before your clients, or your integrity, that's never gonna, it's never gonna work out.

Ron Pippin:

Never.

Darin Kidd:

So you align yourself with somebody whose integrity and work ethic goes before the paycheck. And you know, that business is gonna come to you, if you take care of people

Ron Pippin:

comes back to note, you know, the trust part, you know, like, and trust your realtor, you know, like, and trust your lender. And that's what, that's what I tell people, it's like when they tell me, so. So I know, I've talked to this lender, I've talked to this lender, and I've talked to you, well, who should I go with? And, you know, I could give them all the song and dance all day long. And I just say you need to go with who you know, who you trust and who you like, because that's the person that's that you're going to feel comfortable with. And if you felt uncomfortable with somebody through through the biggest purchase that you may be making in your life, that is just not a red flag. Yeah, totally red flag.

Darin Kidd:

I tell people all the time right you know, I'll tell people I can give you the value of this home. I'm good at it. I trust you know there's that trust I can show you the numbers that are going to tell you things might be going above that the markets pushing that right

Ron Pippin:

right

Darin Kidd:

yeah cuz I got comps are three months old. It's a different market. But at the same time, I tell people, I think the market is going to bear this price. here's here's my recommendation. You go with whatever you feel, and people have to trust their instincts. And that's different from nervousness because it's scary right buying a house, can you Yes, if it's your first time really scary. First house I bought before I got into real estate. I made him a low offer. 130,000 Kimberly I bought a house for 130,000. And, and he's like it was for sale by owner and he's, he said no, like, I don't want to buy it anyway, I was too scared to buy a house. He called me back a couple days later, we'll take it right my heart just sunk. But it was the best investment I ever made. You know, that was right before everything took off. Yeah. And so, so so you can't equate nervousness because that's a normal feeling. Sure. What you can't let fear control you. But you have to go with your gut. So you have to delineate between? am I nervous? This is because this is a scary process, or am I just being scared, right? And I tell people, I can't make that choice for you. I can't make the choice of which house you're going to live in. People ask me all the time, would you buy this house? I can't answer that. Because this might not be my favorite area, this might not be something that I would want to live in. Because it doesn't work for me. I say, I give you the numbers, I give you the value. I give you my honest opinion, the pros and cons of this house, you have to go with your instincts and trust though, right? And if you change your mind to change your mind, you know what I mean?

Ron Pippin:

Yeah, put it under contract. And I know there's going to be some realtors are gonna gonna hate this statement. But if you put it under contract, and you know, a week later, you have buyers regret, you have you have options to get higher due

Darin Kidd:

diligence. And that's important because so I don't know how long you want to go with this podcast. But I feel like one thing that's pretty important for people to to understand is, in a normal market, you could go out and look at a few houses and take a couple days and think about it. Yeah, you might lose out on it because someone else jumped on it. But I mean, just not too long back, you could think about I went saw 10 houses and I'm gonna think about all of them.

Ron Pippin:

Yeah,

Darin Kidd:

yeah. And I'm going to make a decision in a couple days or people like, I'm going to think about I'm going to pray about whatever people do to make their choice, right. That's your there. That's whatever they need to do to feel good about it. Yeah. Now, it's like, you saw this house today, you want it you're making an offer today. And then you may go and do whatever and feel like this isn't the house, then that's okay. That's okay, you can understand that you can still back out, you've got it. You don't have that luxury anymore of waiting two or three days or even a week or even you know that that's crazy. I know, it sounds crazy to make a decision like that. But you have to be you have that safeguard within that. If you have a good realtor, they're going to make sure that they have that in there for you that you can you can get out and and then on the other side is a map because you're gonna get out pretty quick, right? I always tell him like if you're backing out do it now because that's fair to them sellers show they've got five other offers. So it's not like they're like, Oh, no, our life was ruined. No, they got five other offers. They're gonna be okay.

Ron Pippin:

Yeah, it's not like we're in a market where somebody's house has been sitting for a year. And now you're they have an offer and they're going, yay, we got an offer and then backs out and you're right, then they're just really disappointed. Yeah. So it's just not the market we're in? Well, Darren, this has been this has been fun. Yeah, it's been really good. And I appreciate all the insights that you brought to, to the podcast and for. For those consumers that are listening, it's been really informative. And for the real estate agents that are that are listening, I think you've given them some really good things to think about in their business as well. So I appreciate appreciate your time.

Darin Kidd:

My pleasure. It's been really fun. Um, Roger invited me I think this is really cool what you're doing, because anytime we can help other people or educate people, I feel like that's part of our job, right? Sure. You understand? How how to navigate the process?

Ron Pippin:

Yeah. So tell me, how can somebody get hold of you if they want to?

Darin Kidd:

So the easiest way to get a hold of me so this, this may sound counterintuitive, and this might sound crazy. I am not on social media. All right. It's just not congruent with how I am. I have people who do that for me. You know, Christy young has Facebook, she has 1000s of followers because she does charities and things like that. We have a website, you know, young real estate team. But

Ron Pippin:

what's that? What's the website,

Darin Kidd:

the young real estate team, the young real estate team cool. And so if someone wants to get ahold me, the best way is just the old fashioned way. Call me. I love to talk to people. But you can text me if you want. Sometimes you're working only thing you do is text. I like to have real live conversations with people because there's so much involved in this. I tell people all the time, people would ask me questions. I'm like, will you please call me because I want you to be 100% knowledgeable and no ifs, ands or buts. Because this is important, right? This is very important. So So call me so my number is 801-628-0050. And you can call me anytime my phone's I shut it off at night. So I can turn the ringer off at night. So I can sleep. Right? Right. Yeah, but but I'll call back when I have a minute. And I love I love being available for people because I feel like that kind of is part of what I signed up for. Right? If I wanted to be a nine to five job, I should go get a nine to five job. And when I see realtors who do the nine to five, I'm like, how are you in this business? Like this isn't and most of those agents aren't around anymore, right? Because you have to be available to people. So I like to be available to people.

Ron Pippin:

So So Darren, Darren's gonna be just Like some other agents and some other vendors is like, if they don't answer you, that doesn't mean they're not available. It just means they're either on a phone call, they're talking to somebody else. They're, you know, in a meeting or meeting with somebody, or they have their 30 minutes of personal time they're trying to get done. So leave a message,

Darin Kidd:

right? Yep. Leave a message. I'll call you back.

Ron Pippin:

Yep. So what's your phone number again? One more time.

Darin Kidd:

816280050.

Ron Pippin:

Okay. All right. Thanks, Darren. Thanks, Ron. And, and if you guys want to get hold of me or anybody on my team, you can get us at 801-628-7667 and you can find us at the Pippin team.com and thanks for listening to agent versus lender.