{"version":"1.0.0","segments":[{"speaker":"Unknown","startTime":2.58,"endTime":5.61,"body":"Hey guys, it's time for"},{"speaker":"Unknown","startTime":2.58,"endTime":5.61,"body":"another episode of dition dirt"},{"speaker":"Unknown","startTime":5.61,"endTime":9.93,"body":"with Gary pequin 2020 shows"},{"speaker":"Unknown","startTime":5.61,"endTime":9.93,"body":"continues to rumble right along"},{"speaker":"Unknown","startTime":9.93,"endTime":12.93,"body":"and we're here now closing in on"},{"speaker":"Unknown","startTime":9.93,"endTime":12.93,"body":"the end of the year. And like"},{"speaker":"Unknown","startTime":12.93,"endTime":15.0,"body":"I've said before, I still think"},{"speaker":"Unknown","startTime":12.93,"endTime":15.0,"body":"something crazy is about to"},{"speaker":"Unknown","startTime":15.0,"endTime":17.58,"body":"happen. I can't believe that"},{"speaker":"Unknown","startTime":15.0,"endTime":17.58,"body":"2020 will go out with a whimper."},{"speaker":"Unknown","startTime":17.58,"endTime":20.13,"body":"But in the meantime, let me see"},{"speaker":"Unknown","startTime":17.58,"endTime":20.13,"body":"if I can help you guys stay"},{"speaker":"Unknown","startTime":20.13,"endTime":23.25,"body":"legal with a couple of things"},{"speaker":"Unknown","startTime":20.13,"endTime":23.25,"body":"that we'll cover today on dish"},{"speaker":"Unknown","startTime":23.25,"endTime":25.62,"body":"and dirt. So on our show today,"},{"speaker":"Unknown","startTime":23.25,"endTime":25.62,"body":"we're first thing we're going to"},{"speaker":"Unknown","startTime":25.62,"endTime":28.53,"body":"do is talk about multiple"},{"speaker":"Unknown","startTime":25.62,"endTime":28.53,"body":"offers. How do you handle them?"},{"speaker":"Unknown","startTime":28.53,"endTime":30.69,"body":"What is illegal, what's the"},{"speaker":"Unknown","startTime":28.53,"endTime":30.69,"body":"ethical way of handling multiple"},{"speaker":"Unknown","startTime":30.69,"endTime":34.98,"body":"offers, which will also roll"},{"speaker":"Unknown","startTime":30.69,"endTime":34.98,"body":"right into escalation clauses."},{"speaker":"Unknown","startTime":35.01,"endTime":37.5,"body":"Those are something we're seeing"},{"speaker":"Unknown","startTime":35.01,"endTime":37.5,"body":"more and more I will explain"},{"speaker":"Unknown","startTime":37.5,"endTime":40.68,"body":"what they are, how they work,"},{"speaker":"Unknown","startTime":37.5,"endTime":40.68,"body":"and whether they are legal or"},{"speaker":"Unknown","startTime":40.68,"endTime":43.44,"body":"ethical under the realtor code"},{"speaker":"Unknown","startTime":40.68,"endTime":43.44,"body":"of ethics. We'll also have"},{"speaker":"Unknown","startTime":43.44,"endTime":47.13,"body":"another episode of Corona crazy"},{"speaker":"Unknown","startTime":43.44,"endTime":47.13,"body":"closings. And of course, no"},{"speaker":"Unknown","startTime":47.13,"endTime":50.91,"body":"episode of dition dirt can be"},{"speaker":"Unknown","startTime":47.13,"endTime":50.91,"body":"complete without Gary's good"},{"speaker":"Unknown","startTime":50.91,"endTime":54.15,"body":"news only. Now if you like what"},{"speaker":"Unknown","startTime":50.91,"endTime":54.15,"body":"we're doing here, once again,"},{"speaker":"Unknown","startTime":54.15,"endTime":57.09,"body":"I'd ask that you please like us,"},{"speaker":"Unknown","startTime":54.15,"endTime":57.09,"body":"share us and subscribe to us."},{"speaker":"Unknown","startTime":57.51,"endTime":60.42,"body":"Even if you don't like us,"},{"speaker":"Unknown","startTime":57.51,"endTime":60.42,"body":"that's fine, too. But I do need"},{"speaker":"Unknown","startTime":60.42,"endTime":62.52,"body":"you to keep sharing us either"},{"speaker":"Unknown","startTime":60.42,"endTime":62.52,"body":"way, because we're trying to"},{"speaker":"Unknown","startTime":62.52,"endTime":65.07,"body":"grow what we're doing here so we"},{"speaker":"Unknown","startTime":62.52,"endTime":65.07,"body":"can get some new exciting"},{"speaker":"Unknown","startTime":65.07,"endTime":67.83,"body":"guests. I do know that coming up"},{"speaker":"Unknown","startTime":65.07,"endTime":67.83,"body":"soon, we have a Wall Street"},{"speaker":"Unknown","startTime":67.83,"endTime":71.31,"body":"Journal best time seller who"},{"speaker":"Unknown","startTime":67.83,"endTime":71.31,"body":"will be joining us on some sales"},{"speaker":"Unknown","startTime":71.31,"endTime":74.58,"body":"information. That's fine, I"},{"speaker":"Unknown","startTime":71.31,"endTime":74.58,"body":"think you will find very helpful"},{"speaker":"Unknown","startTime":74.58,"endTime":77.22,"body":"to growing your business. So"},{"speaker":"Unknown","startTime":74.58,"endTime":77.22,"body":"stay tuned for a lot of great"},{"speaker":"Unknown","startTime":77.22,"endTime":80.22,"body":"guests as we continue to roll"},{"speaker":"Unknown","startTime":77.22,"endTime":80.22,"body":"through these podcasts. So let's"},{"speaker":"Unknown","startTime":80.22,"endTime":84.24,"body":"jump right into our topic today."},{"speaker":"Unknown","startTime":80.22,"endTime":84.24,"body":"And the market is extremely hot."},{"speaker":"Unknown","startTime":84.27,"endTime":86.7,"body":"There's no doubt about it right"},{"speaker":"Unknown","startTime":84.27,"endTime":86.7,"body":"now. And so there's a good"},{"speaker":"Unknown","startTime":86.7,"endTime":90.27,"body":"opportunity for you to receive"},{"speaker":"Unknown","startTime":86.7,"endTime":90.27,"body":"multiple offers on any of your"},{"speaker":"Unknown","startTime":90.27,"endTime":93.93,"body":"closings. It amazes me over the"},{"speaker":"Unknown","startTime":90.27,"endTime":93.93,"body":"years how many real estate"},{"speaker":"Unknown","startTime":93.93,"endTime":96.96,"body":"agents have called me"},{"speaker":"Unknown","startTime":93.93,"endTime":96.96,"body":"complaining that they did not"},{"speaker":"Unknown","startTime":96.96,"endTime":100.53,"body":"win a multiple offer situation"},{"speaker":"Unknown","startTime":96.96,"endTime":100.53,"body":"where they didn't know there"},{"speaker":"Unknown","startTime":100.53,"endTime":104.16,"body":"were multiple offers. And they"},{"speaker":"Unknown","startTime":100.53,"endTime":104.16,"body":"mistakenly believe that because"},{"speaker":"Unknown","startTime":104.16,"endTime":107.31,"body":"the listing agent did not"},{"speaker":"Unknown","startTime":104.16,"endTime":107.31,"body":"disclose to them that there were"},{"speaker":"Unknown","startTime":107.31,"endTime":110.97,"body":"multiple offers that somehow the"},{"speaker":"Unknown","startTime":107.31,"endTime":110.97,"body":"listing agent violated some real"},{"speaker":"Unknown","startTime":110.97,"endTime":114.63,"body":"estate law, or some real estate"},{"speaker":"Unknown","startTime":110.97,"endTime":114.63,"body":"code of ethics. The main thing I"},{"speaker":"Unknown","startTime":114.63,"endTime":117.93,"body":"want everyone to understand"},{"speaker":"Unknown","startTime":114.63,"endTime":117.93,"body":"today is there is absolutely no"},{"speaker":"Unknown","startTime":117.93,"endTime":120.66,"body":"law, state, federal or"},{"speaker":"Unknown","startTime":117.93,"endTime":120.66,"body":"otherwise. Nor is there any"},{"speaker":"Unknown","startTime":120.66,"endTime":124.08,"body":"realtor code of ethics that"},{"speaker":"Unknown","startTime":120.66,"endTime":124.08,"body":"requires you to disclose to the"},{"speaker":"Unknown","startTime":124.08,"endTime":126.42,"body":"other side that you have"},{"speaker":"Unknown","startTime":124.08,"endTime":126.42,"body":"multiple offers on the property,"},{"speaker":"Unknown","startTime":126.81,"endTime":131.76,"body":"in fact, is exactly the"},{"speaker":"Unknown","startTime":126.81,"endTime":131.76,"body":"opposite. If you disclose to any"},{"speaker":"Unknown","startTime":131.76,"endTime":135.27,"body":"party that you even have an"},{"speaker":"Unknown","startTime":131.76,"endTime":135.27,"body":"offer on the property without"},{"speaker":"Unknown","startTime":135.27,"endTime":138.24,"body":"getting the approval of your"},{"speaker":"Unknown","startTime":135.27,"endTime":138.24,"body":"seller, now you have violated"},{"speaker":"Unknown","startTime":138.24,"endTime":141.09,"body":"South Carolina State law as well"},{"speaker":"Unknown","startTime":138.24,"endTime":141.09,"body":"as the realtor code of ethics"},{"speaker":"Unknown","startTime":141.09,"endTime":145.92,"body":"because under both, you have a"},{"speaker":"Unknown","startTime":141.09,"endTime":145.92,"body":"duty of confidentiality with"},{"speaker":"Unknown","startTime":145.92,"endTime":150.42,"body":"your client, your client, the"},{"speaker":"Unknown","startTime":145.92,"endTime":150.42,"body":"seller may have no desire to"},{"speaker":"Unknown","startTime":150.42,"endTime":153.36,"body":"notify the other parties that"},{"speaker":"Unknown","startTime":150.42,"endTime":153.36,"body":"they have multiple offers on the"},{"speaker":"Unknown","startTime":153.36,"endTime":156.87,"body":"property for various strategic"},{"speaker":"Unknown","startTime":153.36,"endTime":156.87,"body":"reasons. So the first thing to"},{"speaker":"Unknown","startTime":156.87,"endTime":160.8,"body":"please understand is, you may"},{"speaker":"Unknown","startTime":156.87,"endTime":160.8,"body":"not disclose, and you are not"},{"speaker":"Unknown","startTime":160.8,"endTime":165.06,"body":"required to disclose multiple"},{"speaker":"Unknown","startTime":160.8,"endTime":165.06,"body":"offers. Unless your seller"},{"speaker":"Unknown","startTime":165.12,"endTime":168.12,"body":"approves of that. Now, I would"},{"speaker":"Unknown","startTime":165.12,"endTime":168.12,"body":"tell you, I would get an email"},{"speaker":"Unknown","startTime":168.12,"endTime":172.23,"body":"or a text message and keep that"},{"speaker":"Unknown","startTime":168.12,"endTime":172.23,"body":"as proof for your client."},{"speaker":"Unknown","startTime":172.23,"endTime":175.59,"body":"Because if the client has"},{"speaker":"Unknown","startTime":172.23,"endTime":175.59,"body":"amnesia later and can't remember"},{"speaker":"Unknown","startTime":175.59,"endTime":178.32,"body":"that you gave them permission,"},{"speaker":"Unknown","startTime":175.59,"endTime":178.32,"body":"you want to have something that"},{"speaker":"Unknown","startTime":178.32,"endTime":182.31,"body":"would protect you. Now, why"},{"speaker":"Unknown","startTime":178.32,"endTime":182.31,"body":"would a client a seller not want"},{"speaker":"Unknown","startTime":182.31,"endTime":186.3,"body":"to immediately tell everybody we"},{"speaker":"Unknown","startTime":182.31,"endTime":186.3,"body":"have best at or we have multiple"},{"speaker":"Unknown","startTime":186.3,"endTime":189.39,"body":"offers and want best and final?"},{"speaker":"Unknown","startTime":186.3,"endTime":189.39,"body":"Well, there's there's a lot of"},{"speaker":"Unknown","startTime":189.39,"endTime":192.69,"body":"strategies with that. And"},{"speaker":"Unknown","startTime":189.39,"endTime":192.69,"body":"there's also a lot of risk, if I"},{"speaker":"Unknown","startTime":192.69,"endTime":197.91,"body":"have two buyers trying to bid"},{"speaker":"Unknown","startTime":192.69,"endTime":197.91,"body":"for my house. And I notify both"},{"speaker":"Unknown","startTime":197.94,"endTime":200.52,"body":"of them that I have multiple"},{"speaker":"Unknown","startTime":197.94,"endTime":200.52,"body":"offers on our own best and final"},{"speaker":"Unknown","startTime":200.7,"endTime":203.79,"body":"one or both could decide they do"},{"speaker":"Unknown","startTime":200.7,"endTime":203.79,"body":"not want to get in a bidding war"},{"speaker":"Unknown","startTime":203.88,"endTime":206.61,"body":"and can simply walk away from"},{"speaker":"Unknown","startTime":203.88,"endTime":206.61,"body":"the transaction. And now I lose"},{"speaker":"Unknown","startTime":206.61,"endTime":210.09,"body":"bet both offers, if one of my"},{"speaker":"Unknown","startTime":206.61,"endTime":210.09,"body":"offers is really, really good"},{"speaker":"Unknown","startTime":210.09,"endTime":215.52,"body":"and acceptable, and one offer is"},{"speaker":"Unknown","startTime":210.09,"endTime":215.52,"body":"really, really bad, I may lose"},{"speaker":"Unknown","startTime":215.52,"endTime":218.01,"body":"the one that was good and the"},{"speaker":"Unknown","startTime":215.52,"endTime":218.01,"body":"one that's bad may come up just"},{"speaker":"Unknown","startTime":218.01,"endTime":222.93,"body":"a few dollars. So there is a"},{"speaker":"Unknown","startTime":218.01,"endTime":222.93,"body":"risk and immediately jumping to"},{"speaker":"Unknown","startTime":222.93,"endTime":226.35,"body":"the conclusion that if you tell"},{"speaker":"Unknown","startTime":222.93,"endTime":226.35,"body":"both sides are both buyers that"},{"speaker":"Unknown","startTime":226.35,"endTime":229.35,"body":"you have multiple offers, that"},{"speaker":"Unknown","startTime":226.35,"endTime":229.35,"body":"that will automatically result"},{"speaker":"Unknown","startTime":229.35,"endTime":232.62,"body":"in a bidding war. Sometimes it"},{"speaker":"Unknown","startTime":229.35,"endTime":232.62,"body":"results in the parties, both"},{"speaker":"Unknown","startTime":232.74,"endTime":236.25,"body":"leaving the transaction and not"},{"speaker":"Unknown","startTime":232.74,"endTime":236.25,"body":"making another offer. So when"},{"speaker":"Unknown","startTime":236.25,"endTime":238.83,"body":"you have multiple offers, while"},{"speaker":"Unknown","startTime":236.25,"endTime":238.83,"body":"you are required by law and by"},{"speaker":"Unknown","startTime":238.83,"endTime":243.51,"body":"the code of ethics is to present"},{"speaker":"Unknown","startTime":238.83,"endTime":243.51,"body":"the offers to your seller. Now"},{"speaker":"Unknown","startTime":243.54,"endTime":246.51,"body":"under state law, as you know,"},{"speaker":"Unknown","startTime":243.54,"endTime":246.51,"body":"you have to read to present"},{"speaker":"Unknown","startTime":246.51,"endTime":249.39,"body":"those offers in a reasonably"},{"speaker":"Unknown","startTime":246.51,"endTime":249.39,"body":"prudent and quick manner. You"},{"speaker":"Unknown","startTime":249.39,"endTime":252.99,"body":"don't have the right to hold"},{"speaker":"Unknown","startTime":249.39,"endTime":252.99,"body":"those offers. And that's another"},{"speaker":"Unknown","startTime":252.99,"endTime":257.37,"body":"issue that we constantly see is"},{"speaker":"Unknown","startTime":252.99,"endTime":257.37,"body":"that when a selling or listing"},{"speaker":"Unknown","startTime":257.4,"endTime":260.52,"body":"agent has an offer and knows"},{"speaker":"Unknown","startTime":257.4,"endTime":260.52,"body":"that other offers are coming in,"},{"speaker":"Unknown","startTime":260.7,"endTime":263.82,"body":"I've actually had them put into"},{"speaker":"Unknown","startTime":260.7,"endTime":263.82,"body":"writing to other agents that I'm"},{"speaker":"Unknown","startTime":263.82,"endTime":266.31,"body":"not going to present your offer"},{"speaker":"Unknown","startTime":263.82,"endTime":266.31,"body":"right now I'm waiting for other"},{"speaker":"Unknown","startTime":266.31,"endTime":266.94,"body":"offers."},{"speaker":"Unknown","startTime":267.24,"endTime":270.36,"body":"That's big real estate, no, no,"},{"speaker":"Unknown","startTime":267.24,"endTime":270.36,"body":"you can't do that. You must"},{"speaker":"Unknown","startTime":270.39,"endTime":273.48,"body":"present those in a reasonably"},{"speaker":"Unknown","startTime":270.39,"endTime":273.48,"body":"tight reasonable timeframe. Now"},{"speaker":"Unknown","startTime":273.48,"endTime":277.14,"body":"what is reasonable now if I"},{"speaker":"Unknown","startTime":273.48,"endTime":277.14,"body":"receive an offer at 10am, and"},{"speaker":"Unknown","startTime":277.14,"endTime":278.94,"body":"I'm in the middle of a closing,"},{"speaker":"Unknown","startTime":277.14,"endTime":278.94,"body":"I don't have to get out of the"},{"speaker":"Unknown","startTime":278.94,"endTime":281.97,"body":"closing and go present that"},{"speaker":"Unknown","startTime":278.94,"endTime":281.97,"body":"offer or if I'm going to see a"},{"speaker":"Unknown","startTime":281.97,"endTime":285.33,"body":"class or at the doctor's office,"},{"speaker":"Unknown","startTime":281.97,"endTime":285.33,"body":"that's not reasonable to expect"},{"speaker":"Unknown","startTime":285.33,"endTime":287.49,"body":"for me to have to leave that"},{"speaker":"Unknown","startTime":285.33,"endTime":287.49,"body":"appointment to go present that"},{"speaker":"Unknown","startTime":287.49,"endTime":291.51,"body":"offer. But if I finished my"},{"speaker":"Unknown","startTime":287.49,"endTime":291.51,"body":"closing at 11 o'clock, certainly"},{"speaker":"Unknown","startTime":291.51,"endTime":293.91,"body":"within an hour or so I should be"},{"speaker":"Unknown","startTime":291.51,"endTime":293.91,"body":"able to present that offer to"},{"speaker":"Unknown","startTime":293.91,"endTime":297.15,"body":"the seller, not waiting two or"},{"speaker":"Unknown","startTime":293.91,"endTime":297.15,"body":"three days that would not be"},{"speaker":"Unknown","startTime":297.15,"endTime":300.48,"body":"reasonable. Now there's no"},{"speaker":"Unknown","startTime":297.15,"endTime":300.48,"body":"requirement that Your seller"},{"speaker":"Unknown","startTime":300.48,"endTime":305.43,"body":"respond, other than the contract"},{"speaker":"Unknown","startTime":300.48,"endTime":305.43,"body":"may have an expiration date. But"},{"speaker":"Unknown","startTime":305.43,"endTime":308.22,"body":"your client can certainly tell"},{"speaker":"Unknown","startTime":305.43,"endTime":308.22,"body":"you as a seller, if you say,"},{"speaker":"Unknown","startTime":308.22,"endTime":310.53,"body":"Hey, I think we have other"},{"speaker":"Unknown","startTime":308.22,"endTime":310.53,"body":"offers coming in, well, I don't"},{"speaker":"Unknown","startTime":310.53,"endTime":314.04,"body":"want to respond to this offer"},{"speaker":"Unknown","startTime":310.53,"endTime":314.04,"body":"until the deadline here. Or I"},{"speaker":"Unknown","startTime":314.04,"endTime":317.37,"body":"want you to go back to the"},{"speaker":"Unknown","startTime":314.04,"endTime":317.37,"body":"buyer's agent, and say that we"},{"speaker":"Unknown","startTime":317.37,"endTime":321.0,"body":"will not respond until such time"},{"speaker":"Unknown","startTime":317.37,"endTime":321.0,"body":"is that going to be acceptable."},{"speaker":"Unknown","startTime":321.3,"endTime":325.26,"body":"So your seller drives what you"},{"speaker":"Unknown","startTime":321.3,"endTime":325.26,"body":"do not the other way around."},{"speaker":"Unknown","startTime":325.53,"endTime":327.78,"body":"When you start driving, what"},{"speaker":"Unknown","startTime":325.53,"endTime":327.78,"body":"your seller does is when you"},{"speaker":"Unknown","startTime":327.78,"endTime":331.62,"body":"drive yourself right over to the"},{"speaker":"Unknown","startTime":327.78,"endTime":331.62,"body":"LLR, for a grievance now some of"},{"speaker":"Unknown","startTime":331.62,"endTime":335.04,"body":"the strategies that you can see"},{"speaker":"Unknown","startTime":331.62,"endTime":335.04,"body":"with multiple offers, as far as"},{"speaker":"Unknown","startTime":335.07,"endTime":338.55,"body":"that your offer your seller,"},{"speaker":"Unknown","startTime":335.07,"endTime":338.55,"body":"masons deny all offers, or"},{"speaker":"Unknown","startTime":338.55,"endTime":341.73,"body":"buyers offers are so bad, that"},{"speaker":"Unknown","startTime":338.55,"endTime":341.73,"body":"none of them are appealing, they"},{"speaker":"Unknown","startTime":341.73,"endTime":344.97,"body":"could just deny all of them and"},{"speaker":"Unknown","startTime":341.73,"endTime":344.97,"body":"not even ask for finals or"},{"speaker":"Unknown","startTime":345.0,"endTime":348.21,"body":"multiple offer bids, they can"},{"speaker":"Unknown","startTime":345.0,"endTime":348.21,"body":"just flat out accept one. So if"},{"speaker":"Unknown","startTime":348.21,"endTime":350.52,"body":"one offer is so great that they"},{"speaker":"Unknown","startTime":348.21,"endTime":350.52,"body":"would accept and don't want to"},{"speaker":"Unknown","startTime":350.52,"endTime":352.98,"body":"lose it, they can just accept"},{"speaker":"Unknown","startTime":350.52,"endTime":352.98,"body":"that one offer and deny the"},{"speaker":"Unknown","startTime":352.98,"endTime":356.82,"body":"others, they can negotiate with"},{"speaker":"Unknown","startTime":352.98,"endTime":356.82,"body":"one offer and deny the others or"},{"speaker":"Unknown","startTime":356.82,"endTime":359.55,"body":"they can negotiate with one"},{"speaker":"Unknown","startTime":356.82,"endTime":359.55,"body":"offer. With the other offers"},{"speaker":"Unknown","startTime":359.55,"endTime":362.37,"body":"still outstanding until their"},{"speaker":"Unknown","startTime":359.55,"endTime":362.37,"body":"time that they have expired has"},{"speaker":"Unknown","startTime":362.37,"endTime":364.53,"body":"completely up to the seller,"},{"speaker":"Unknown","startTime":362.37,"endTime":364.53,"body":"there's multiple strategies as"},{"speaker":"Unknown","startTime":364.53,"endTime":367.32,"body":"to why you would do one way or"},{"speaker":"Unknown","startTime":364.53,"endTime":367.32,"body":"the other. Again, during all"},{"speaker":"Unknown","startTime":367.32,"endTime":371.64,"body":"this period, you have no duty or"},{"speaker":"Unknown","startTime":367.32,"endTime":371.64,"body":"right to disclose any of this to"},{"speaker":"Unknown","startTime":371.64,"endTime":374.79,"body":"any of the other buyers for"},{"speaker":"Unknown","startTime":371.64,"endTime":374.79,"body":"potential buyer, the seller"},{"speaker":"Unknown","startTime":374.85,"endTime":377.52,"body":"options and what they're doing"},{"speaker":"Unknown","startTime":374.85,"endTime":377.52,"body":"or the sellers choices, and it"},{"speaker":"Unknown","startTime":377.52,"endTime":379.74,"body":"must all remain confidential"},{"speaker":"Unknown","startTime":377.52,"endTime":379.74,"body":"with the seller unless they"},{"speaker":"Unknown","startTime":379.77,"endTime":383.22,"body":"advise you otherwise. Now"},{"speaker":"Unknown","startTime":379.77,"endTime":383.22,"body":"another strategy could be asking"},{"speaker":"Unknown","startTime":383.22,"endTime":386.97,"body":"for best and final. And this"},{"speaker":"Unknown","startTime":383.22,"endTime":386.97,"body":"seems to be a popular strategy"},{"speaker":"Unknown","startTime":386.97,"endTime":390.69,"body":"of HGTV and million dollar"},{"speaker":"Unknown","startTime":386.97,"endTime":390.69,"body":"listing personally million"},{"speaker":"Unknown","startTime":390.69,"endTime":393.15,"body":"dollar listing LA is one of my"},{"speaker":"Unknown","startTime":390.69,"endTime":393.15,"body":"absolute favorite shows. I love"},{"speaker":"Unknown","startTime":393.15,"endTime":396.81,"body":"watching Josh altman and Josh"},{"speaker":"Unknown","startTime":393.15,"endTime":396.81,"body":"Flagg go at each other, it's"},{"speaker":"Unknown","startTime":396.81,"endTime":399.99,"body":"really hilarious. But that's all"},{"speaker":"Unknown","startTime":396.81,"endTime":399.99,"body":"fe and we everything about that"},{"speaker":"Unknown","startTime":399.99,"endTime":403.68,"body":"show is set up, it's already"},{"speaker":"Unknown","startTime":399.99,"endTime":403.68,"body":"done. It's not reality. And the"},{"speaker":"Unknown","startTime":403.68,"endTime":405.96,"body":"problem is a lot of our clients"},{"speaker":"Unknown","startTime":403.68,"endTime":405.96,"body":"watch that and believe that has"},{"speaker":"Unknown","startTime":405.96,"endTime":409.92,"body":"become reality, and wants y'all"},{"speaker":"Unknown","startTime":405.96,"endTime":409.92,"body":"to throw fancy open houses with"},{"speaker":"Unknown","startTime":409.92,"endTime":412.62,"body":"celebrities, models and sports"},{"speaker":"Unknown","startTime":409.92,"endTime":412.62,"body":"cars. But that's not how it"},{"speaker":"Unknown","startTime":412.62,"endTime":415.68,"body":"works. So that's also not how it"},{"speaker":"Unknown","startTime":412.62,"endTime":415.68,"body":"works with a contract. Now if"},{"speaker":"Unknown","startTime":415.68,"endTime":419.07,"body":"your client wants you to do best"},{"speaker":"Unknown","startTime":415.68,"endTime":419.07,"body":"and final, you're only allowed"},{"speaker":"Unknown","startTime":419.07,"endTime":423.75,"body":"to disclose as much as your"},{"speaker":"Unknown","startTime":419.07,"endTime":423.75,"body":"seller will allow you. Now your"},{"speaker":"Unknown","startTime":423.75,"endTime":427.08,"body":"seller may ask you to disclose"},{"speaker":"Unknown","startTime":423.75,"endTime":427.08,"body":"to all the parties, what the"},{"speaker":"Unknown","startTime":427.08,"endTime":430.56,"body":"highest bid is right now hopes"},{"speaker":"Unknown","startTime":427.08,"endTime":430.56,"body":"that the others will go above"},{"speaker":"Unknown","startTime":430.56,"endTime":433.86,"body":"it, or the offers might be so"},{"speaker":"Unknown","startTime":430.56,"endTime":433.86,"body":"low that they do not want to"},{"speaker":"Unknown","startTime":433.86,"endTime":436.47,"body":"disclose to the other parties"},{"speaker":"Unknown","startTime":433.86,"endTime":436.47,"body":"what their offer is and just say"},{"speaker":"Unknown","startTime":436.56,"endTime":439.59,"body":"we have multiple offers."},{"speaker":"Unknown","startTime":436.56,"endTime":439.59,"body":"Similarly, a seller may say,"},{"speaker":"Unknown","startTime":439.59,"endTime":442.77,"body":"Hey, we have six offers, let"},{"speaker":"Unknown","startTime":439.59,"endTime":442.77,"body":"them know how many offers we"},{"speaker":"Unknown","startTime":442.77,"endTime":444.78,"body":"have, because that might really"},{"speaker":"Unknown","startTime":442.77,"endTime":444.78,"body":"get a bidding war. Now"},{"speaker":"Unknown","startTime":444.78,"endTime":447.69,"body":"conversely, some of the lower"},{"speaker":"Unknown","startTime":444.78,"endTime":447.69,"body":"offers may just bail on it"},{"speaker":"Unknown","startTime":447.69,"endTime":450.42,"body":"because they don't want to bid"},{"speaker":"Unknown","startTime":447.69,"endTime":450.42,"body":"with six other people. But if"},{"speaker":"Unknown","startTime":450.42,"endTime":452.58,"body":"they only have one other offer,"},{"speaker":"Unknown","startTime":450.42,"endTime":452.58,"body":"it is bad, they may not want to"},{"speaker":"Unknown","startTime":452.58,"endTime":455.94,"body":"let the other buyer know how"},{"speaker":"Unknown","startTime":452.58,"endTime":455.94,"body":"many offers they have or the"},{"speaker":"Unknown","startTime":455.94,"endTime":459.27,"body":"lack of offers they have. So"},{"speaker":"Unknown","startTime":455.94,"endTime":459.27,"body":"again, all of this needs to be"},{"speaker":"Unknown","startTime":459.54,"endTime":463.65,"body":"handled with your seller at the"},{"speaker":"Unknown","startTime":459.54,"endTime":463.65,"body":"at the direction of your seller."},{"speaker":"Unknown","startTime":463.65,"endTime":467.19,"body":"And again, I would also say make"},{"speaker":"Unknown","startTime":463.65,"endTime":467.19,"body":"sure whatever decision your"},{"speaker":"Unknown","startTime":467.19,"endTime":471.0,"body":"seller makes, that that is put"},{"speaker":"Unknown","startTime":467.19,"endTime":471.0,"body":"in writing, so that everybody"},{"speaker":"Unknown","startTime":471.03,"endTime":474.45,"body":"has evidence of what those"},{"speaker":"Unknown","startTime":471.03,"endTime":474.45,"body":"decisions were made. Now once"},{"speaker":"Unknown","startTime":474.45,"endTime":477.03,"body":"the best and final offers do"},{"speaker":"Unknown","startTime":474.45,"endTime":477.03,"body":"arise, there's a couple other"},{"speaker":"Unknown","startTime":477.03,"endTime":482.04,"body":"things to understand number one,"},{"speaker":"Unknown","startTime":477.03,"endTime":482.04,"body":"even in best and final multiple"},{"speaker":"Unknown","startTime":482.04,"endTime":486.84,"body":"offers situations price is not"},{"speaker":"Unknown","startTime":482.04,"endTime":486.84,"body":"the sole factor as to whether"},{"speaker":"Unknown","startTime":486.84,"endTime":490.77,"body":"the offer will be accepted. So"},{"speaker":"Unknown","startTime":486.84,"endTime":490.77,"body":"just because the buyer has"},{"speaker":"Unknown","startTime":490.77,"endTime":494.46,"body":"submitted the highest offer does"},{"speaker":"Unknown","startTime":490.77,"endTime":494.46,"body":"not mean that the seller has to"},{"speaker":"Unknown","startTime":494.46,"endTime":498.21,"body":"take it or they even will take"},{"speaker":"Unknown","startTime":494.46,"endTime":498.21,"body":"it because there are many facets"},{"speaker":"Unknown","startTime":498.21,"endTime":502.47,"body":"to a contract, my client may be"},{"speaker":"Unknown","startTime":498.21,"endTime":502.47,"body":"willing to take a few $1,000"},{"speaker":"Unknown","startTime":502.47,"endTime":506.4,"body":"last on a cash closing that's"},{"speaker":"Unknown","startTime":502.47,"endTime":506.4,"body":"going to close in 15 days with"},{"speaker":"Unknown","startTime":506.4,"endTime":510.93,"body":"no due diligence with no"},{"speaker":"Unknown","startTime":506.4,"endTime":510.93,"body":"inspections, as is versus taking"},{"speaker":"Unknown","startTime":510.93,"endTime":516.12,"body":"more money that is a 45 day"},{"speaker":"Unknown","startTime":510.93,"endTime":516.12,"body":"close with an FDA loan tied in"},{"speaker":"Unknown","startTime":516.12,"endTime":519.57,"body":"with the State Housing loan. And"},{"speaker":"Unknown","startTime":516.12,"endTime":519.57,"body":"it's contingent on appraisal,"},{"speaker":"Unknown","startTime":519.78,"endTime":523.71,"body":"inspections due diligence, all"},{"speaker":"Unknown","startTime":519.78,"endTime":523.71,"body":"that so understand whether"},{"speaker":"Unknown","startTime":523.71,"endTime":527.16,"body":"you're on the buyer side or"},{"speaker":"Unknown","startTime":523.71,"endTime":527.16,"body":"seller side, it doesn't matter"},{"speaker":"Unknown","startTime":527.37,"endTime":530.4,"body":"if the final price that your"},{"speaker":"Unknown","startTime":527.37,"endTime":530.4,"body":"client submits is the highest"},{"speaker":"Unknown","startTime":530.4,"endTime":534.27,"body":"that is not the only factor"},{"speaker":"Unknown","startTime":530.4,"endTime":534.27,"body":"driving the train. It also does"},{"speaker":"Unknown","startTime":534.27,"endTime":537.09,"body":"that mean that because your"},{"speaker":"Unknown","startTime":534.27,"endTime":537.09,"body":"client submits the highest offer"},{"speaker":"Unknown","startTime":537.3,"endTime":540.78,"body":"that the seller even has to"},{"speaker":"Unknown","startTime":537.3,"endTime":540.78,"body":"accept any of the offers. If"},{"speaker":"Unknown","startTime":540.78,"endTime":543.93,"body":"they do come back best and find"},{"speaker":"Unknown","startTime":540.78,"endTime":543.93,"body":"out well multiple offers and all"},{"speaker":"Unknown","startTime":543.93,"endTime":547.2,"body":"of them are unacceptable to the"},{"speaker":"Unknown","startTime":543.93,"endTime":547.2,"body":"seller, the seller can still"},{"speaker":"Unknown","startTime":547.2,"endTime":548.46,"body":"decline any of them,"},{"speaker":"Unknown","startTime":548.85,"endTime":552.45,"body":"and can even go back to another"},{"speaker":"Unknown","startTime":548.85,"endTime":552.45,"body":"one and start negotiating with"},{"speaker":"Unknown","startTime":552.45,"endTime":554.67,"body":"them. There's nothing"},{"speaker":"Unknown","startTime":552.45,"endTime":554.67,"body":"prohibiting the buyer the"},{"speaker":"Unknown","startTime":554.67,"endTime":557.76,"body":"seller, once they asked her best"},{"speaker":"Unknown","startTime":554.67,"endTime":557.76,"body":"and final to still try and"},{"speaker":"Unknown","startTime":557.76,"endTime":561.48,"body":"negotiate. So if I asked her"},{"speaker":"Unknown","startTime":557.76,"endTime":561.48,"body":"best and final and two people's"},{"speaker":"Unknown","startTime":561.48,"endTime":564.09,"body":"finals are bad, and the third"},{"speaker":"Unknown","startTime":561.48,"endTime":564.09,"body":"one's good, but I think I can"},{"speaker":"Unknown","startTime":564.09,"endTime":566.52,"body":"get some more money out of them."},{"speaker":"Unknown","startTime":564.09,"endTime":566.52,"body":"I still could go to that third"},{"speaker":"Unknown","startTime":566.52,"endTime":570.45,"body":"party and say, Well, I would"},{"speaker":"Unknown","startTime":566.52,"endTime":570.45,"body":"take your offer if and I can"},{"speaker":"Unknown","startTime":570.45,"endTime":574.08,"body":"make a counteroffer to that"},{"speaker":"Unknown","startTime":570.45,"endTime":574.08,"body":"offer. So I understand there's"},{"speaker":"Unknown","startTime":574.08,"endTime":577.98,"body":"no ending to that just because"},{"speaker":"Unknown","startTime":574.08,"endTime":577.98,"body":"you're the highest bidder. And"},{"speaker":"Unknown","startTime":577.98,"endTime":582.36,"body":"lastly, the only thing that"},{"speaker":"Unknown","startTime":577.98,"endTime":582.36,"body":"truly matters on on this is that"},{"speaker":"Unknown","startTime":582.36,"endTime":585.21,"body":"you understand that your client"},{"speaker":"Unknown","startTime":582.36,"endTime":585.21,"body":"may not discriminate based on"},{"speaker":"Unknown","startTime":585.24,"endTime":588.39,"body":"any protected class. I have said"},{"speaker":"Unknown","startTime":585.24,"endTime":588.39,"body":"it once I've said it a million"},{"speaker":"Unknown","startTime":588.39,"endTime":591.78,"body":"times if your client wants to"},{"speaker":"Unknown","startTime":588.39,"endTime":591.78,"body":"discriminate fire them if you"},{"speaker":"Unknown","startTime":591.78,"endTime":593.52,"body":"want to discriminate just get"},{"speaker":"Unknown","startTime":591.78,"endTime":593.52,"body":"out of our business because we"},{"speaker":"Unknown","startTime":593.52,"endTime":595.86,"body":"don't need you. There's no"},{"speaker":"Unknown","startTime":593.52,"endTime":595.86,"body":"reason or room for that in our"},{"speaker":"Unknown","startTime":595.86,"endTime":599.91,"body":"business. Now let's move over to"},{"speaker":"Unknown","startTime":595.86,"endTime":599.91,"body":"a another topic directly related"},{"speaker":"Unknown","startTime":599.91,"endTime":603.24,"body":"to This one, and that is"},{"speaker":"Unknown","startTime":599.91,"endTime":603.24,"body":"escalation clauses. And the"},{"speaker":"Unknown","startTime":603.24,"endTime":605.82,"body":"reason we're going to move over"},{"speaker":"Unknown","startTime":603.24,"endTime":605.82,"body":"to escalation clauses, is"},{"speaker":"Unknown","startTime":605.82,"endTime":608.52,"body":"because a lot of times when you"},{"speaker":"Unknown","startTime":605.82,"endTime":608.52,"body":"are in a multiple offer"},{"speaker":"Unknown","startTime":608.52,"endTime":612.75,"body":"situation, escalation clauses"},{"speaker":"Unknown","startTime":608.52,"endTime":612.75,"body":"come into being. Now what"},{"speaker":"Unknown","startTime":612.75,"endTime":616.71,"body":"exactly is an escalation clause?"},{"speaker":"Unknown","startTime":612.75,"endTime":616.71,"body":"This is wording in a contract"},{"speaker":"Unknown","startTime":616.71,"endTime":620.01,"body":"that states that when a"},{"speaker":"Unknown","startTime":616.71,"endTime":620.01,"body":"potential buyer is willing to go"},{"speaker":"Unknown","startTime":620.01,"endTime":624.03,"body":"over a certain amount, for"},{"speaker":"Unknown","startTime":620.01,"endTime":624.03,"body":"example, as a buyer, I may agree"},{"speaker":"Unknown","startTime":624.03,"endTime":627.81,"body":"to pay $1,000 more than the"},{"speaker":"Unknown","startTime":624.03,"endTime":627.81,"body":"highest offer that the seller"},{"speaker":"Unknown","startTime":627.81,"endTime":631.38,"body":"receives on the property."},{"speaker":"Unknown","startTime":627.81,"endTime":631.38,"body":"Basically, the belief is, I"},{"speaker":"Unknown","startTime":631.38,"endTime":635.31,"body":"can't lose, if I tell the"},{"speaker":"Unknown","startTime":631.38,"endTime":635.31,"body":"seller, I'll go $1,000 over your"},{"speaker":"Unknown","startTime":635.31,"endTime":639.66,"body":"best offer. Now, keep in mind,"},{"speaker":"Unknown","startTime":635.31,"endTime":639.66,"body":"maybe no, it might not be the"},{"speaker":"Unknown","startTime":639.66,"endTime":643.35,"body":"case, because price doesn't drop"},{"speaker":"Unknown","startTime":639.66,"endTime":643.35,"body":"everything. But that is a theory"},{"speaker":"Unknown","startTime":643.35,"endTime":647.16,"body":"that a lot of buyers have that"},{"speaker":"Unknown","startTime":643.35,"endTime":647.16,"body":"really want a house. But there"},{"speaker":"Unknown","startTime":647.16,"endTime":650.34,"body":"are a lot of risks. And there"},{"speaker":"Unknown","startTime":647.16,"endTime":650.34,"body":"are a lot of pitfalls involved"},{"speaker":"Unknown","startTime":650.34,"endTime":652.11,"body":"in that. And I'm going to talk"},{"speaker":"Unknown","startTime":650.34,"endTime":652.11,"body":"about those here over the next"},{"speaker":"Unknown","startTime":652.11,"endTime":655.38,"body":"few minutes. The first thing to"},{"speaker":"Unknown","startTime":652.11,"endTime":655.38,"body":"understand however, it is not"},{"speaker":"Unknown","startTime":655.41,"endTime":659.67,"body":"illegal in South Carolina, to do"},{"speaker":"Unknown","startTime":655.41,"endTime":659.67,"body":"an escalation clause in a"},{"speaker":"Unknown","startTime":659.67,"endTime":665.13,"body":"contract, nor is it improper or"},{"speaker":"Unknown","startTime":659.67,"endTime":665.13,"body":"unethical under the realtor code"},{"speaker":"Unknown","startTime":665.13,"endTime":667.62,"body":"of ethics. So there's nothing"},{"speaker":"Unknown","startTime":665.13,"endTime":667.62,"body":"illegal, there's nothing"},{"speaker":"Unknown","startTime":667.65,"endTime":670.38,"body":"unethical about it. However,"},{"speaker":"Unknown","startTime":667.65,"endTime":670.38,"body":"that does not mean it's the best"},{"speaker":"Unknown","startTime":670.38,"endTime":673.71,"body":"practice. And as I tell a lot of"},{"speaker":"Unknown","startTime":670.38,"endTime":673.71,"body":"my clients that I represent, and"},{"speaker":"Unknown","startTime":673.71,"endTime":676.83,"body":"I represent real estate agencies"},{"speaker":"Unknown","startTime":673.71,"endTime":676.83,"body":"all over the state, is"},{"speaker":"Unknown","startTime":676.86,"endTime":679.77,"body":"regardless what is legal and"},{"speaker":"Unknown","startTime":676.86,"endTime":679.77,"body":"what isn't. Some things we just"},{"speaker":"Unknown","startTime":679.77,"endTime":682.47,"body":"don't do, because it's bad for"},{"speaker":"Unknown","startTime":679.77,"endTime":682.47,"body":"business. It's bad for our"},{"speaker":"Unknown","startTime":682.47,"endTime":685.41,"body":"clients, it's bad for us. And"},{"speaker":"Unknown","startTime":682.47,"endTime":685.41,"body":"this is one of those situations"},{"speaker":"Unknown","startTime":685.41,"endTime":688.11,"body":"I think might just be bad for"},{"speaker":"Unknown","startTime":685.41,"endTime":688.11,"body":"you, as well as for your client."},{"speaker":"Unknown","startTime":688.71,"endTime":692.46,"body":"What we do know is that if you"},{"speaker":"Unknown","startTime":688.71,"endTime":692.46,"body":"were to Google escalation"},{"speaker":"Unknown","startTime":692.46,"endTime":696.45,"body":"clauses, you would find multiple"},{"speaker":"Unknown","startTime":692.46,"endTime":696.45,"body":"articles out there, arguing that"},{"speaker":"Unknown","startTime":696.45,"endTime":700.17,"body":"they should all be banned"},{"speaker":"Unknown","startTime":696.45,"endTime":700.17,"body":"country wide. We also know that"},{"speaker":"Unknown","startTime":700.2,"endTime":702.87,"body":"states as large as Texas, the"},{"speaker":"Unknown","startTime":700.2,"endTime":702.87,"body":"second largest state by"},{"speaker":"Unknown","startTime":702.87,"endTime":707.1,"body":"population in the country has"},{"speaker":"Unknown","startTime":702.87,"endTime":707.1,"body":"outlawed escalation clauses. So"},{"speaker":"Unknown","startTime":707.1,"endTime":711.39,"body":"why is it that state like Texas"},{"speaker":"Unknown","startTime":707.1,"endTime":711.39,"body":"would not want us doing"},{"speaker":"Unknown","startTime":711.9,"endTime":715.62,"body":"escalation clauses, unless there"},{"speaker":"Unknown","startTime":711.9,"endTime":715.62,"body":"is certainly some issues with"},{"speaker":"Unknown","startTime":715.62,"endTime":719.82,"body":"them. So let's look into what"},{"speaker":"Unknown","startTime":715.62,"endTime":719.82,"body":"escalation clauses are and how"},{"speaker":"Unknown","startTime":719.82,"endTime":722.76,"body":"they work. And what the problem"},{"speaker":"Unknown","startTime":719.82,"endTime":722.76,"body":"is, as I mentioned earlier, and"},{"speaker":"Unknown","startTime":722.76,"endTime":725.97,"body":"an escalation clause, typically"},{"speaker":"Unknown","startTime":722.76,"endTime":725.97,"body":"in the contract, you're going to"},{"speaker":"Unknown","startTime":725.97,"endTime":729.42,"body":"make an offer and the offer"},{"speaker":"Unknown","startTime":725.97,"endTime":729.42,"body":"would be, I will pay you $1,000,"},{"speaker":"Unknown","startTime":729.45,"endTime":734.1,"body":"or $2,000, or whatever over your"},{"speaker":"Unknown","startTime":729.45,"endTime":734.1,"body":"highest offer. Oftentimes, they"},{"speaker":"Unknown","startTime":734.1,"endTime":737.64,"body":"will put language in there that"},{"speaker":"Unknown","startTime":734.1,"endTime":737.64,"body":"says it stairsteps, I will go up"},{"speaker":"Unknown","startTime":737.64,"endTime":742.38,"body":"$5,000 over the highest offer to"},{"speaker":"Unknown","startTime":737.64,"endTime":742.38,"body":"a maximum of X amount of"},{"speaker":"Unknown","startTime":742.38,"endTime":747.84,"body":"dollars. And there allows the"},{"speaker":"Unknown","startTime":742.38,"endTime":747.84,"body":"bulk of your problem is, these"},{"speaker":"Unknown","startTime":747.84,"endTime":751.74,"body":"things are number one written"},{"speaker":"Unknown","startTime":747.84,"endTime":751.74,"body":"extremely poor, a lot of agents"},{"speaker":"Unknown","startTime":751.74,"endTime":755.46,"body":"will just write their offers"},{"speaker":"Unknown","startTime":751.74,"endTime":755.46,"body":"$1,000 over highest offer, not"},{"speaker":"Unknown","startTime":755.79,"endTime":759.15,"body":"$200,000. But we're willing to"},{"speaker":"Unknown","startTime":755.79,"endTime":759.15,"body":"go with $1,000 over highest"},{"speaker":"Unknown","startTime":759.15,"endTime":762.69,"body":"offers just $1,000 over the"},{"speaker":"Unknown","startTime":759.15,"endTime":762.69,"body":"highest offer. And so there's"},{"speaker":"Unknown","startTime":762.69,"endTime":767.34,"body":"really no understanding as to"},{"speaker":"Unknown","startTime":762.69,"endTime":767.34,"body":"what our true exposure is. And"},{"speaker":"Unknown","startTime":767.34,"endTime":769.83,"body":"what you're doing when you do"},{"speaker":"Unknown","startTime":767.34,"endTime":769.83,"body":"this to your client is you're"},{"speaker":"Unknown","startTime":769.83,"endTime":772.89,"body":"essentially opening their wallet"},{"speaker":"Unknown","startTime":769.83,"endTime":772.89,"body":"and say sell or put your hand in"},{"speaker":"Unknown","startTime":772.89,"endTime":777.24,"body":"it. Because you have offered no"},{"speaker":"Unknown","startTime":772.89,"endTime":777.24,"body":"cap in most cases, no cap as to"},{"speaker":"Unknown","startTime":777.24,"endTime":780.09,"body":"what the maximum your client"},{"speaker":"Unknown","startTime":777.24,"endTime":780.09,"body":"will pay, they'll pay $1,000"},{"speaker":"Unknown","startTime":780.09,"endTime":784.08,"body":"over highest offer. Well, on a"},{"speaker":"Unknown","startTime":780.09,"endTime":784.08,"body":"$200,000 house that can still be"},{"speaker":"Unknown","startTime":784.11,"endTime":786.69,"body":"300 grand could be 400 grand, we"},{"speaker":"Unknown","startTime":784.11,"endTime":786.69,"body":"don't know what the highest"},{"speaker":"Unknown","startTime":786.69,"endTime":790.17,"body":"offer may be. So you have"},{"speaker":"Unknown","startTime":786.69,"endTime":790.17,"body":"basically committed your client"},{"speaker":"Unknown","startTime":790.17,"endTime":792.75,"body":"to making the highest offer some"},{"speaker":"Unknown","startTime":790.17,"endTime":792.75,"body":"agents like Well, I'm not really"},{"speaker":"Unknown","startTime":792.75,"endTime":794.76,"body":"worried about it, because we'll"},{"speaker":"Unknown","startTime":792.75,"endTime":794.76,"body":"make it contingent on appraisal."},{"speaker":"Unknown","startTime":794.76,"endTime":799.2,"body":"Well, any seller who receives an"},{"speaker":"Unknown","startTime":794.76,"endTime":799.2,"body":"escalation calls, who accepts an"},{"speaker":"Unknown","startTime":799.2,"endTime":801.84,"body":"appraisal contingency the full"},{"speaker":"Unknown","startTime":799.2,"endTime":801.84,"body":"first thing I'm doing removing"},{"speaker":"Unknown","startTime":801.84,"endTime":804.54,"body":"the appraisal contingency is not"},{"speaker":"Unknown","startTime":801.84,"endTime":804.54,"body":"contingent on appraisal. And I'm"},{"speaker":"Unknown","startTime":804.54,"endTime":806.76,"body":"probably also removing your"},{"speaker":"Unknown","startTime":804.54,"endTime":806.76,"body":"right to terminate under due"},{"speaker":"Unknown","startTime":806.76,"endTime":808.98,"body":"diligence, because I know that's"},{"speaker":"Unknown","startTime":806.76,"endTime":808.98,"body":"what you're going to do when you"},{"speaker":"Unknown","startTime":808.98,"endTime":812.25,"body":"have buyer's remorse. So we"},{"speaker":"Unknown","startTime":808.98,"endTime":812.25,"body":"already have a lot of issue on"},{"speaker":"Unknown","startTime":812.25,"endTime":815.04,"body":"even getting this across the"},{"speaker":"Unknown","startTime":812.25,"endTime":815.04,"body":"finish line at that point. And"},{"speaker":"Unknown","startTime":815.04,"endTime":817.23,"body":"if you were to sort of try to"},{"speaker":"Unknown","startTime":815.04,"endTime":817.23,"body":"submit a contract, knowing that"},{"speaker":"Unknown","startTime":817.23,"endTime":819.36,"body":"it's not going to appraise and"},{"speaker":"Unknown","startTime":817.23,"endTime":819.36,"body":"knowing that the seller is going"},{"speaker":"Unknown","startTime":819.36,"endTime":822.21,"body":"to have to renegotiate, I think"},{"speaker":"Unknown","startTime":819.36,"endTime":822.21,"body":"that's a bad faith offer. And I"},{"speaker":"Unknown","startTime":822.21,"endTime":824.43,"body":"do believe there are some"},{"speaker":"Unknown","startTime":822.21,"endTime":824.43,"body":"ethical concerns and maybe even"},{"speaker":"Unknown","startTime":824.43,"endTime":827.4,"body":"some legal concerns. I will have"},{"speaker":"Unknown","startTime":824.43,"endTime":827.4,"body":"a podcast on that later on that"},{"speaker":"Unknown","startTime":827.4,"endTime":830.46,"body":"I'm planning on doing. The other"},{"speaker":"Unknown","startTime":827.4,"endTime":830.46,"body":"option at this point then would"},{"speaker":"Unknown","startTime":830.46,"endTime":834.45,"body":"be well, why don't we put in the"},{"speaker":"Unknown","startTime":830.46,"endTime":834.45,"body":"contract? I'm $1,000 over"},{"speaker":"Unknown","startTime":834.45,"endTime":838.65,"body":"highest offer not to exceed X"},{"speaker":"Unknown","startTime":834.45,"endTime":838.65,"body":"dollars. So what do you believe"},{"speaker":"Unknown","startTime":838.65,"endTime":843.54,"body":"as a listing agent happens when"},{"speaker":"Unknown","startTime":838.65,"endTime":843.54,"body":"your seller sees what x dollar"},{"speaker":"Unknown","startTime":843.57,"endTime":844.08,"body":"is. So"},{"speaker":"Unknown","startTime":844.079,"endTime":847.589,"body":"for instance, I am making an"},{"speaker":"Unknown","startTime":844.079,"endTime":847.589,"body":"offer of 300 Grand i will go up"},{"speaker":"Unknown","startTime":848.249,"endTime":853.859,"body":"to $5,000 over the highest offer"},{"speaker":"Unknown","startTime":848.249,"endTime":853.859,"body":"but not to exceed 325 grand, my"},{"speaker":"Unknown","startTime":853.859,"endTime":857.939,"body":"seller has now seen the magical"},{"speaker":"Unknown","startTime":853.859,"endTime":857.939,"body":"number of 325 What is my seller"},{"speaker":"Unknown","startTime":857.939,"endTime":863.519,"body":"won't 325 at a minimum, he's not"},{"speaker":"Unknown","startTime":857.939,"endTime":863.519,"body":"going to want 300 305 310 his"},{"speaker":"Unknown","startTime":863.519,"endTime":867.329,"body":"response is I want the 325. But"},{"speaker":"Unknown","startTime":863.519,"endTime":867.329,"body":"now the other problem is for my"},{"speaker":"Unknown","startTime":867.329,"endTime":871.619,"body":"buyer, I have now exposed my"},{"speaker":"Unknown","startTime":867.329,"endTime":871.619,"body":"buyers best and final number."},{"speaker":"Unknown","startTime":872.219,"endTime":875.489,"body":"Even though my my buyer really"},{"speaker":"Unknown","startTime":872.219,"endTime":875.489,"body":"doesn't want that to be known."},{"speaker":"Unknown","startTime":875.909,"endTime":878.219,"body":"Because he's telling you he"},{"speaker":"Unknown","startTime":875.909,"endTime":878.219,"body":"wants to make an offer of 300."},{"speaker":"Unknown","startTime":878.219,"endTime":881.669,"body":"He's willing to go to 325. So"},{"speaker":"Unknown","startTime":878.219,"endTime":881.669,"body":"here we have expose that number"},{"speaker":"Unknown","startTime":881.669,"endTime":885.059,"body":"in a contract, which the seller"},{"speaker":"Unknown","startTime":881.669,"endTime":885.059,"body":"won't. So if I represent the"},{"speaker":"Unknown","startTime":885.059,"endTime":888.239,"body":"seller and I received this"},{"speaker":"Unknown","startTime":885.059,"endTime":888.239,"body":"escalation clause of 300 grand"},{"speaker":"Unknown","startTime":888.239,"endTime":892.949,"body":"I'll go up 5000 over the best"},{"speaker":"Unknown","startTime":888.239,"endTime":892.949,"body":"offer not to exceed 325 I'm just"},{"speaker":"Unknown","startTime":892.949,"endTime":897.149,"body":"going to counteroffer you at"},{"speaker":"Unknown","startTime":892.949,"endTime":897.149,"body":"$325,000 because that's what my"},{"speaker":"Unknown","startTime":897.149,"endTime":899.999,"body":"seller is going to expect now. I"},{"speaker":"Unknown","startTime":897.149,"endTime":899.999,"body":"know you're willing to go that"},{"speaker":"Unknown","startTime":899.999,"endTime":903.419,"body":"Number so why would I even"},{"speaker":"Unknown","startTime":899.999,"endTime":903.419,"body":"accept anything less than the"},{"speaker":"Unknown","startTime":903.419,"endTime":907.349,"body":"325. The second issue, probably"},{"speaker":"Unknown","startTime":903.419,"endTime":907.349,"body":"the most important issue is the"},{"speaker":"Unknown","startTime":907.379,"endTime":911.789,"body":"level of potential fraud, the"},{"speaker":"Unknown","startTime":907.379,"endTime":911.789,"body":"level of fraud or the level of"},{"speaker":"Unknown","startTime":911.879,"endTime":915.629,"body":"dishonesty in this transaction."},{"speaker":"Unknown","startTime":911.879,"endTime":915.629,"body":"Now, if you think everybody in"},{"speaker":"Unknown","startTime":915.629,"endTime":922.199,"body":"real estate is 100% trustworthy,"},{"speaker":"Unknown","startTime":915.629,"endTime":922.199,"body":"then I have a beachfront lot in"},{"speaker":"Unknown","startTime":922.199,"endTime":925.109,"body":"Tennessee to sell you as George"},{"speaker":"Unknown","startTime":922.199,"endTime":925.109,"body":"Strait was saying in that song."},{"speaker":"Unknown","startTime":926.069,"endTime":928.829,"body":"They're dishonest people in"},{"speaker":"Unknown","startTime":926.069,"endTime":928.829,"body":"every walk of life, dishonest"},{"speaker":"Unknown","startTime":928.829,"endTime":932.219,"body":"buyers, dishonest sellers in"},{"speaker":"Unknown","startTime":928.829,"endTime":932.219,"body":"every walk of life. So we are"},{"speaker":"Unknown","startTime":932.219,"endTime":937.979,"body":"assuming that when we make a"},{"speaker":"Unknown","startTime":932.219,"endTime":937.979,"body":"offer with a escalation clause,"},{"speaker":"Unknown","startTime":938.429,"endTime":942.569,"body":"that we will actually get a"},{"speaker":"Unknown","startTime":938.429,"endTime":942.569,"body":"truthful number from the seller"},{"speaker":"Unknown","startTime":942.599,"endTime":947.369,"body":"showing us exactly what that"},{"speaker":"Unknown","startTime":942.599,"endTime":947.369,"body":"best offer was. Now, oftentimes,"},{"speaker":"Unknown","startTime":947.579,"endTime":950.399,"body":"the parties will not authorize"},{"speaker":"Unknown","startTime":947.579,"endTime":950.399,"body":"you to release a copy of their"},{"speaker":"Unknown","startTime":950.399,"endTime":954.149,"body":"contract to that seller. So it"},{"speaker":"Unknown","startTime":950.399,"endTime":954.149,"body":"might be a situation where your"},{"speaker":"Unknown","startTime":954.149,"endTime":956.609,"body":"seller never even sees the other"},{"speaker":"Unknown","startTime":954.149,"endTime":956.609,"body":"contracts, and they're taking it"},{"speaker":"Unknown","startTime":956.609,"endTime":960.539,"body":"on face value that the seller"},{"speaker":"Unknown","startTime":956.609,"endTime":960.539,"body":"got that offer, I guess you"},{"speaker":"Unknown","startTime":960.539,"endTime":963.089,"body":"could put in your contract. And"},{"speaker":"Unknown","startTime":960.539,"endTime":963.089,"body":"in order for this to kick in,"},{"speaker":"Unknown","startTime":963.239,"endTime":966.509,"body":"the seller has to provide a copy"},{"speaker":"Unknown","startTime":963.239,"endTime":966.509,"body":"of that offer. Of course,"},{"speaker":"Unknown","startTime":966.509,"endTime":969.719,"body":"they're going to redact the"},{"speaker":"Unknown","startTime":966.509,"endTime":969.719,"body":"names because the buyers has the"},{"speaker":"Unknown","startTime":969.719,"endTime":971.819,"body":"first offer is not going to"},{"speaker":"Unknown","startTime":969.719,"endTime":971.819,"body":"authorize him to release that"},{"speaker":"Unknown","startTime":971.819,"endTime":974.279,"body":"offer. And there's questions as"},{"speaker":"Unknown","startTime":971.819,"endTime":974.279,"body":"to whether you can even release"},{"speaker":"Unknown","startTime":974.279,"endTime":977.339,"body":"it without that buyer's"},{"speaker":"Unknown","startTime":974.279,"endTime":977.339,"body":"permission. Because it does have"},{"speaker":"Unknown","startTime":977.339,"endTime":980.099,"body":"confidential information, which"},{"speaker":"Unknown","startTime":977.339,"endTime":980.099,"body":"I don't think other parties are"},{"speaker":"Unknown","startTime":980.099,"endTime":983.189,"body":"entitled to such as how much Mr."},{"speaker":"Unknown","startTime":980.099,"endTime":983.189,"body":"Mrs. Jones down the street are"},{"speaker":"Unknown","startTime":983.189,"endTime":985.829,"body":"willing to pay for a house. I"},{"speaker":"Unknown","startTime":983.189,"endTime":985.829,"body":"think that is confidential. I do"},{"speaker":"Unknown","startTime":985.829,"endTime":987.809,"body":"believe that violates the"},{"speaker":"Unknown","startTime":985.829,"endTime":987.809,"body":"realtor code of ethics for you"},{"speaker":"Unknown","startTime":987.809,"endTime":990.689,"body":"to disclose that. So I don't"},{"speaker":"Unknown","startTime":987.809,"endTime":990.689,"body":"believe that you can disclose"},{"speaker":"Unknown","startTime":990.689,"endTime":993.209,"body":"that other offer without the"},{"speaker":"Unknown","startTime":990.689,"endTime":993.209,"body":"buyers permission. And I don't"},{"speaker":"Unknown","startTime":993.209,"endTime":996.629,"body":"know why a buyer would let you"},{"speaker":"Unknown","startTime":993.209,"endTime":996.629,"body":"release his contract to a"},{"speaker":"Unknown","startTime":996.629,"endTime":999.419,"body":"competing offer. But let's jump"},{"speaker":"Unknown","startTime":996.629,"endTime":999.419,"body":"through that hoop and just"},{"speaker":"Unknown","startTime":999.419,"endTime":1002.689,"body":"assume we're wrong on that. And"},{"speaker":"Unknown","startTime":999.419,"endTime":1002.689,"body":"it doesn't violate any codes of"},{"speaker":"Unknown","startTime":1002.689,"endTime":1006.529,"body":"ethics or any laws, and you can"},{"speaker":"Unknown","startTime":1002.689,"endTime":1006.529,"body":"disclose it. How do we know that"},{"speaker":"Unknown","startTime":1006.529,"endTime":1010.039,"body":"that offer didn't come from his"},{"speaker":"Unknown","startTime":1006.529,"endTime":1010.039,"body":"brother in law? Friend, somebody"},{"speaker":"Unknown","startTime":1010.039,"endTime":1012.289,"body":"at some club he's a member of"},{"speaker":"Unknown","startTime":1010.039,"endTime":1012.289,"body":"how do we know he didn't pay"},{"speaker":"Unknown","startTime":1012.289,"endTime":1014.689,"body":"somebody to make the offer? How"},{"speaker":"Unknown","startTime":1012.289,"endTime":1014.689,"body":"do we know that two agents in"},{"speaker":"Unknown","startTime":1014.689,"endTime":1017.299,"body":"the office who are struggling"},{"speaker":"Unknown","startTime":1014.689,"endTime":1017.299,"body":"financially don't get together"},{"speaker":"Unknown","startTime":1017.299,"endTime":1020.089,"body":"and say, Hey, help me out here,"},{"speaker":"Unknown","startTime":1017.299,"endTime":1020.089,"body":"bring me some offer? Well, you"},{"speaker":"Unknown","startTime":1020.089,"endTime":1022.369,"body":"know, we've got a better offer,"},{"speaker":"Unknown","startTime":1020.089,"endTime":1022.369,"body":"we'll go ahead and take it. But"},{"speaker":"Unknown","startTime":1022.369,"endTime":1024.679,"body":"I just need you to bring me this"},{"speaker":"Unknown","startTime":1022.369,"endTime":1024.679,"body":"big offer. So I can get some"},{"speaker":"Unknown","startTime":1024.679,"endTime":1027.979,"body":"more money out of these people,"},{"speaker":"Unknown","startTime":1024.679,"endTime":1027.979,"body":"you truly have absolutely no way"},{"speaker":"Unknown","startTime":1027.979,"endTime":1032.089,"body":"of knowing whether or not these"},{"speaker":"Unknown","startTime":1027.979,"endTime":1032.089,"body":"offers are legit. So the next"},{"speaker":"Unknown","startTime":1032.089,"endTime":1035.659,"body":"issue you have with these"},{"speaker":"Unknown","startTime":1032.089,"endTime":1035.659,"body":"escalation clauses, is what"},{"speaker":"Unknown","startTime":1035.659,"endTime":1038.629,"body":"happens when we have multiple"},{"speaker":"Unknown","startTime":1035.659,"endTime":1038.629,"body":"parties with escalation clauses,"},{"speaker":"Unknown","startTime":1038.959,"endTime":1041.809,"body":"I got party one who says I'll go"},{"speaker":"Unknown","startTime":1038.959,"endTime":1041.809,"body":"$1,000 over the best offer and I"},{"speaker":"Unknown","startTime":1041.809,"endTime":1045.229,"body":"got party two, he says he'll go"},{"speaker":"Unknown","startTime":1041.809,"endTime":1045.229,"body":"over $1,000 or the best offer. I"},{"speaker":"Unknown","startTime":1045.229,"endTime":1047.749,"body":"mean, where does it in, we just"},{"speaker":"Unknown","startTime":1045.229,"endTime":1047.749,"body":"get going $1,000 over"},{"speaker":"Unknown","startTime":1047.75,"endTime":1050.87,"body":"everybody for infinity. There's"},{"speaker":"Unknown","startTime":1047.75,"endTime":1050.87,"body":"no end number inside there"},{"speaker":"Unknown","startTime":1050.87,"endTime":1053.12,"body":"unless they put numbers in"},{"speaker":"Unknown","startTime":1050.87,"endTime":1053.12,"body":"there. So now you're getting"},{"speaker":"Unknown","startTime":1053.12,"endTime":1056.96,"body":"into an issue with what in fact"},{"speaker":"Unknown","startTime":1053.12,"endTime":1056.96,"body":"is the highest number, what's"},{"speaker":"Unknown","startTime":1056.96,"endTime":1057.98,"body":"the dollar amount."},{"speaker":"Unknown","startTime":1058.28,"endTime":1061.07,"body":"Also remember how we talked"},{"speaker":"Unknown","startTime":1058.28,"endTime":1061.07,"body":"earlier about how price is not"},{"speaker":"Unknown","startTime":1061.07,"endTime":1064.34,"body":"the only driver of contract. So"},{"speaker":"Unknown","startTime":1061.07,"endTime":1064.34,"body":"this party says they'll go"},{"speaker":"Unknown","startTime":1064.34,"endTime":1068.54,"body":"$1,000 over the best price"},{"speaker":"Unknown","startTime":1064.34,"endTime":1068.54,"body":"offer. But what happens is the"},{"speaker":"Unknown","startTime":1068.54,"endTime":1073.13,"body":"best offer has better terms. So"},{"speaker":"Unknown","startTime":1068.54,"endTime":1073.13,"body":"there's really no guarantee that"},{"speaker":"Unknown","startTime":1073.13,"endTime":1076.1,"body":"even if you are the highest"},{"speaker":"Unknown","startTime":1073.13,"endTime":1076.1,"body":"offer, that they're going to"},{"speaker":"Unknown","startTime":1076.1,"endTime":1079.64,"body":"accept your escalation clause"},{"speaker":"Unknown","startTime":1076.1,"endTime":1079.64,"body":"language, because if you're"},{"speaker":"Unknown","startTime":1079.64,"endTime":1082.73,"body":"$1,000 over the best offer, but"},{"speaker":"Unknown","startTime":1079.64,"endTime":1082.73,"body":"the best offer is cash is going"},{"speaker":"Unknown","startTime":1082.73,"endTime":1085.46,"body":"to close in 10 days with no"},{"speaker":"Unknown","startTime":1082.73,"endTime":1085.46,"body":"contingencies and your financing"},{"speaker":"Unknown","startTime":1085.46,"endTime":1089.45,"body":"and appraisal contingency, your"},{"speaker":"Unknown","startTime":1085.46,"endTime":1089.45,"body":"escalation clause still isn't"},{"speaker":"Unknown","startTime":1089.45,"endTime":1093.17,"body":"going to win. Essentially, what"},{"speaker":"Unknown","startTime":1089.45,"endTime":1093.17,"body":"you're doing here is giving"},{"speaker":"Unknown","startTime":1093.17,"endTime":1096.8,"body":"every buyer who gives you an"},{"speaker":"Unknown","startTime":1093.17,"endTime":1096.8,"body":"escalation clause, a free right"},{"speaker":"Unknown","startTime":1096.8,"endTime":1101.51,"body":"of refusal. Because even if you"},{"speaker":"Unknown","startTime":1096.8,"endTime":1101.51,"body":"are to go with the escalation"},{"speaker":"Unknown","startTime":1101.51,"endTime":1105.23,"body":"clause, and that escalation"},{"speaker":"Unknown","startTime":1101.51,"endTime":1105.23,"body":"clause contract wins, we still"},{"speaker":"Unknown","startTime":1105.23,"endTime":1108.62,"body":"don't have a contract until we"},{"speaker":"Unknown","startTime":1105.23,"endTime":1108.62,"body":"put it in writing and signed by"},{"speaker":"Unknown","startTime":1108.62,"endTime":1112.79,"body":"all the parties, it's gotta"},{"speaker":"Unknown","startTime":1108.62,"endTime":1112.79,"body":"gotta be signed off on. So once"},{"speaker":"Unknown","startTime":1112.79,"endTime":1116.48,"body":"you notify that party, the buyer"},{"speaker":"Unknown","startTime":1112.79,"endTime":1116.48,"body":"that hey, your escalation clause"},{"speaker":"Unknown","startTime":1116.48,"endTime":1120.35,"body":"wins, I had an offer of x and"},{"speaker":"Unknown","startTime":1116.48,"endTime":1120.35,"body":"your x plus 1000. So I'm going"},{"speaker":"Unknown","startTime":1120.35,"endTime":1124.16,"body":"to take yours, here's the"},{"speaker":"Unknown","startTime":1120.35,"endTime":1124.16,"body":"contract, there's no guarantee"},{"speaker":"Unknown","startTime":1124.16,"endTime":1127.97,"body":"the buyer is going to sign that."},{"speaker":"Unknown","startTime":1124.16,"endTime":1127.97,"body":"They may decide now they don't"},{"speaker":"Unknown","startTime":1127.97,"endTime":1131.39,"body":"like how high the bid got on"},{"speaker":"Unknown","startTime":1127.97,"endTime":1131.39,"body":"this property. And so they're"},{"speaker":"Unknown","startTime":1131.39,"endTime":1133.97,"body":"going to back out. So as you"},{"speaker":"Unknown","startTime":1131.39,"endTime":1133.97,"body":"know, a lot of buyers have"},{"speaker":"Unknown","startTime":1133.97,"endTime":1137.36,"body":"buyer's remorse. And when you"},{"speaker":"Unknown","startTime":1133.97,"endTime":1137.36,"body":"have buyer's remorse, you can"},{"speaker":"Unknown","startTime":1137.36,"endTime":1140.18,"body":"always use the due diligence or"},{"speaker":"Unknown","startTime":1137.36,"endTime":1140.18,"body":"the repair addendums to try to"},{"speaker":"Unknown","startTime":1140.18,"endTime":1143.99,"body":"get out of the closing. Because"},{"speaker":"Unknown","startTime":1140.18,"endTime":1143.99,"body":"if somebody has overpaid, and"},{"speaker":"Unknown","startTime":1143.99,"endTime":1146.63,"body":"they now have regret, they'll"},{"speaker":"Unknown","startTime":1143.99,"endTime":1146.63,"body":"use one of those other"},{"speaker":"Unknown","startTime":1146.63,"endTime":1149.57,"body":"provisions in the contract to"},{"speaker":"Unknown","startTime":1146.63,"endTime":1149.57,"body":"terminate. And once that"},{"speaker":"Unknown","startTime":1149.57,"endTime":1152.39,"body":"happens, all the other offers"},{"speaker":"Unknown","startTime":1149.57,"endTime":1152.39,"body":"that you already had in place"},{"speaker":"Unknown","startTime":1152.39,"endTime":1155.18,"body":"that you could have negotiated"},{"speaker":"Unknown","startTime":1152.39,"endTime":1155.18,"body":"with who are bonafide purchasers"},{"speaker":"Unknown","startTime":1155.18,"endTime":1158.51,"body":"who are willing to put their"},{"speaker":"Unknown","startTime":1155.18,"endTime":1158.51,"body":"number on the dotted line"},{"speaker":"Unknown","startTime":1158.51,"endTime":1161.03,"body":"telling you what they will pay"},{"speaker":"Unknown","startTime":1158.51,"endTime":1161.03,"body":"have now moved on to other"},{"speaker":"Unknown","startTime":1161.03,"endTime":1166.31,"body":"houses. And lastly, the big"},{"speaker":"Unknown","startTime":1161.03,"endTime":1166.31,"body":"issue that you also have is when"},{"speaker":"Unknown","startTime":1166.31,"endTime":1170.24,"body":"the buyer is the winner, and"},{"speaker":"Unknown","startTime":1166.31,"endTime":1170.24,"body":"they have now paid more than the"},{"speaker":"Unknown","startTime":1170.24,"endTime":1174.23,"body":"house is worth, they're going to"},{"speaker":"Unknown","startTime":1170.24,"endTime":1174.23,"body":"have to come up with more money"},{"speaker":"Unknown","startTime":1174.26,"endTime":1177.14,"body":"to come to closing because a"},{"speaker":"Unknown","startTime":1174.26,"endTime":1177.14,"body":"good listing agent would never"},{"speaker":"Unknown","startTime":1177.14,"endTime":1180.53,"body":"allow an appraisal contingency"},{"speaker":"Unknown","startTime":1177.14,"endTime":1180.53,"body":"and an escalation clause"},{"speaker":"Unknown","startTime":1180.53,"endTime":1185.48,"body":"contract. So now what we have is"},{"speaker":"Unknown","startTime":1180.53,"endTime":1185.48,"body":"a buyer who is overpaying for"},{"speaker":"Unknown","startTime":1185.48,"endTime":1189.44,"body":"the house above appraised value"},{"speaker":"Unknown","startTime":1185.48,"endTime":1189.44,"body":"and a conventional loan where"},{"speaker":"Unknown","startTime":1189.44,"endTime":1192.89,"body":"they are already bringing 5% for"},{"speaker":"Unknown","startTime":1189.44,"endTime":1192.89,"body":"the down payment. They're now"},{"speaker":"Unknown","startTime":1192.89,"endTime":1197.03,"body":"bringing the VI percent for the"},{"speaker":"Unknown","startTime":1192.89,"endTime":1197.03,"body":"down payment plus the amount"},{"speaker":"Unknown","startTime":1197.03,"endTime":1200.0,"body":"that's over the value of the"},{"speaker":"Unknown","startTime":1197.03,"endTime":1200.0,"body":"contract. So if the house"},{"speaker":"Unknown","startTime":1200.0,"endTime":1203.87,"body":"appraises at 300. And they've"},{"speaker":"Unknown","startTime":1200.0,"endTime":1203.87,"body":"agreed to pay twit 325, they're"},{"speaker":"Unknown","startTime":1203.87,"endTime":1209.24,"body":"bringing $15,000 as a down"},{"speaker":"Unknown","startTime":1203.87,"endTime":1209.24,"body":"payment for their 5%. And then"},{"speaker":"Unknown","startTime":1209.24,"endTime":1213.23,"body":"on top of that, they are"},{"speaker":"Unknown","startTime":1209.24,"endTime":1213.23,"body":"bringing the remaining $25,000."},{"speaker":"Unknown","startTime":1213.71,"endTime":1216.14,"body":"For the amount that's over the"},{"speaker":"Unknown","startTime":1213.71,"endTime":1216.14,"body":"appraised value, the lender is"},{"speaker":"Unknown","startTime":1216.14,"endTime":1219.32,"body":"not going to loan them money"},{"speaker":"Unknown","startTime":1216.14,"endTime":1219.32,"body":"based on the contract, they're"},{"speaker":"Unknown","startTime":1219.32,"endTime":1222.32,"body":"going to base it on the"},{"speaker":"Unknown","startTime":1219.32,"endTime":1222.32,"body":"appraised value of the house. So"},{"speaker":"Unknown","startTime":1222.32,"endTime":1225.14,"body":"now instead of bringing 15,000,"},{"speaker":"Unknown","startTime":1222.32,"endTime":1225.14,"body":"to closing your clients bringing"},{"speaker":"Unknown","startTime":1225.32,"endTime":1228.44,"body":"$40,000 to closing, a lot of"},{"speaker":"Unknown","startTime":1225.32,"endTime":1228.44,"body":"buyers don't understand that"},{"speaker":"Unknown","startTime":1228.44,"endTime":1232.76,"body":"when they do these clauses, I'm"},{"speaker":"Unknown","startTime":1228.44,"endTime":1232.76,"body":"not a fan of escalation clauses."},{"speaker":"Unknown","startTime":1232.82,"endTime":1235.28,"body":"I have not talked to anybody at"},{"speaker":"Unknown","startTime":1232.82,"endTime":1235.28,"body":"the realtors Association who are"},{"speaker":"Unknown","startTime":1235.28,"endTime":1238.82,"body":"fans of these clauses. I think"},{"speaker":"Unknown","startTime":1235.28,"endTime":1238.82,"body":"they're very dangerous. I don't"},{"speaker":"Unknown","startTime":1238.82,"endTime":1242.78,"body":"think they serve your client."},{"speaker":"Unknown","startTime":1238.82,"endTime":1242.78,"body":"Well, I think a better option is"},{"speaker":"Unknown","startTime":1242.78,"endTime":1245.96,"body":"to sit down with your client and"},{"speaker":"Unknown","startTime":1242.78,"endTime":1245.96,"body":"say, You wanted to make an offer"},{"speaker":"Unknown","startTime":1245.96,"endTime":1249.74,"body":"of 300, you're willing to go to"},{"speaker":"Unknown","startTime":1245.96,"endTime":1249.74,"body":"325. If you want to win this"},{"speaker":"Unknown","startTime":1249.74,"endTime":1253.85,"body":"prize were between 303 25 do you"},{"speaker":"Unknown","startTime":1249.74,"endTime":1253.85,"body":"want to go if you want to win,"},{"speaker":"Unknown","startTime":1254.15,"endTime":1256.94,"body":"let's go in and 315. Let's go in"},{"speaker":"Unknown","startTime":1254.15,"endTime":1256.94,"body":"325. But if we're going to get"},{"speaker":"Unknown","startTime":1256.94,"endTime":1259.82,"body":"into this escalation clause,"},{"speaker":"Unknown","startTime":1256.94,"endTime":1259.82,"body":"you're going to be the loser in"},{"speaker":"Unknown","startTime":1259.82,"endTime":1262.76,"body":"the end. And here's why I"},{"speaker":"Unknown","startTime":1259.82,"endTime":1262.76,"body":"explained to them how as an"},{"speaker":"Unknown","startTime":1262.79,"endTime":1266.0,"body":"agent, you do not believe it is"},{"speaker":"Unknown","startTime":1262.79,"endTime":1266.0,"body":"in their best interest. If they"},{"speaker":"Unknown","startTime":1266.0,"endTime":1268.64,"body":"will not relent, and they demand"},{"speaker":"Unknown","startTime":1266.0,"endTime":1268.64,"body":"an escalation clause, you have"},{"speaker":"Unknown","startTime":1268.64,"endTime":1272.51,"body":"one or two things you can do,"},{"speaker":"Unknown","startTime":1268.64,"endTime":1272.51,"body":"you can remove yourself as their"},{"speaker":"Unknown","startTime":1272.57,"endTime":1276.65,"body":"agent, simply say that I'm best"},{"speaker":"Unknown","startTime":1272.57,"endTime":1276.65,"body":"suited to handle you anymore,"},{"speaker":"Unknown","startTime":1276.68,"endTime":1279.98,"body":"and let them hire another agent,"},{"speaker":"Unknown","startTime":1276.68,"endTime":1279.98,"body":"which means you'll give up any"},{"speaker":"Unknown","startTime":1280.01,"endTime":1285.11,"body":"claim to procuring cause on that"},{"speaker":"Unknown","startTime":1280.01,"endTime":1285.11,"body":"other property, or you can have"},{"speaker":"Unknown","startTime":1285.11,"endTime":1288.59,"body":"them put it into writing that"},{"speaker":"Unknown","startTime":1285.11,"endTime":1288.59,"body":"you have fully explained it. And"},{"speaker":"Unknown","startTime":1288.59,"endTime":1290.69,"body":"they're fully aware of all the"},{"speaker":"Unknown","startTime":1288.59,"endTime":1290.69,"body":"risk and so forth, and we're"},{"speaker":"Unknown","startTime":1290.69,"endTime":1293.21,"body":"willing to move forward with the"},{"speaker":"Unknown","startTime":1290.69,"endTime":1293.21,"body":"escalation clause. I'm not a big"},{"speaker":"Unknown","startTime":1293.21,"endTime":1297.56,"body":"fan of the second way, because"},{"speaker":"Unknown","startTime":1293.21,"endTime":1297.56,"body":"most courts you cannot disclose"},{"speaker":"Unknown","startTime":1297.74,"endTime":1303.47,"body":"and disclaim enough items to"},{"speaker":"Unknown","startTime":1297.74,"endTime":1303.47,"body":"satisfy a court of law. So that"},{"speaker":"Unknown","startTime":1303.47,"endTime":1306.95,"body":"would be our advice today is to"},{"speaker":"Unknown","startTime":1303.47,"endTime":1306.95,"body":"not do the escalation clauses."},{"speaker":"Unknown","startTime":1307.01,"endTime":1308.72,"body":"Alright, so I hope that gives"},{"speaker":"Unknown","startTime":1307.01,"endTime":1308.72,"body":"you all some valuable"},{"speaker":"Unknown","startTime":1308.72,"endTime":1311.18,"body":"information on escalation"},{"speaker":"Unknown","startTime":1308.72,"endTime":1311.18,"body":"clauses as well as multiple"},{"speaker":"Unknown","startTime":1311.18,"endTime":1314.15,"body":"offers. If you still have any"},{"speaker":"Unknown","startTime":1311.18,"endTime":1314.15,"body":"questions, you can always email"},{"speaker":"Unknown","startTime":1314.15,"endTime":1319.94,"body":"me and Gary at Blair cato.com."},{"speaker":"Unknown","startTime":1314.15,"endTime":1319.94,"body":"Our sponsor for today is Blair"},{"speaker":"Unknown","startTime":1319.94,"endTime":1323.78,"body":"Cato, Pickering and castrillon"},{"speaker":"Unknown","startTime":1319.94,"endTime":1323.78,"body":"Real Estate Attorneys here in"},{"speaker":"Unknown","startTime":1323.78,"endTime":1327.26,"body":"Columbia, the Midlands,"},{"speaker":"Unknown","startTime":1323.78,"endTime":1327.26,"body":"Lexington as well as Greenville"},{"speaker":"Unknown","startTime":1327.26,"endTime":1330.05,"body":"and the Upstate, if you have any"},{"speaker":"Unknown","startTime":1327.26,"endTime":1330.05,"body":"real estate needs, please don't"},{"speaker":"Unknown","startTime":1330.05,"endTime":1333.68,"body":"hesitate to reach out to us. We"},{"speaker":"Unknown","startTime":1330.05,"endTime":1333.68,"body":"are moving forward together with"},{"speaker":"Unknown","startTime":1333.68,"endTime":1333.92,"body":"you."},{"speaker":"Unknown","startTime":1336.89,"endTime":1340.07,"body":"So in today's Corona, crazy"},{"speaker":"Unknown","startTime":1336.89,"endTime":1340.07,"body":"closings, we had a unusual"},{"speaker":"Unknown","startTime":1340.07,"endTime":1343.13,"body":"situation happened during the"},{"speaker":"Unknown","startTime":1340.07,"endTime":1343.13,"body":"middle of the pandemic. Again,"},{"speaker":"Unknown","startTime":1343.13,"endTime":1346.52,"body":"as you remember, we were doing"},{"speaker":"Unknown","startTime":1343.13,"endTime":1346.52,"body":"closings in our parking lot. And"},{"speaker":"Unknown","startTime":1346.55,"endTime":1349.22,"body":"people were kind of on edge"},{"speaker":"Unknown","startTime":1346.55,"endTime":1349.22,"body":"about a lot of things going on."},{"speaker":"Unknown","startTime":1349.22,"endTime":1352.88,"body":"So we had a gentleman who was"},{"speaker":"Unknown","startTime":1349.22,"endTime":1352.88,"body":"buying, I think it was maybe"},{"speaker":"Unknown","startTime":1352.88,"endTime":1356.6,"body":"$100,000 house and and the"},{"speaker":"Unknown","startTime":1352.88,"endTime":1356.6,"body":"contract he had negotiated"},{"speaker":"Unknown","startTime":1356.6,"endTime":1359.72,"body":"probably five or $10,000 worth"},{"speaker":"Unknown","startTime":1356.6,"endTime":1359.72,"body":"of repairs, which the seller had"},{"speaker":"Unknown","startTime":1359.72,"endTime":1363.8,"body":"done. When he shows up to the"},{"speaker":"Unknown","startTime":1359.72,"endTime":1363.8,"body":"closing in the parking lot. He"},{"speaker":"Unknown","startTime":1363.8,"endTime":1367.34,"body":"is ranting and raving and"},{"speaker":"Unknown","startTime":1363.8,"endTime":1367.34,"body":"screaming and waving arms and"},{"speaker":"Unknown","startTime":1367.34,"endTime":1372.32,"body":"really almost out of control"},{"speaker":"Unknown","startTime":1367.34,"endTime":1372.32,"body":"that he wanted the sellers to"},{"speaker":"Unknown","startTime":1372.35,"endTime":1376.64,"body":"perform about $40,000 worth of"},{"speaker":"Unknown","startTime":1372.35,"endTime":1376.64,"body":"improvements to the house not"},{"speaker":"Unknown","startTime":1376.64,"endTime":1379.79,"body":"repairs, but improvements. He"},{"speaker":"Unknown","startTime":1376.64,"endTime":1379.79,"body":"wanted a new bathroom and all"},{"speaker":"Unknown","startTime":1379.79,"endTime":1383.06,"body":"kinds of things. And unless they"},{"speaker":"Unknown","startTime":1379.79,"endTime":1383.06,"body":"would be willing to come in to"},{"speaker":"Unknown","startTime":1383.06,"endTime":1385.97,"body":"the closing come in before the"},{"speaker":"Unknown","startTime":1383.06,"endTime":1385.97,"body":"closing with a check for 40"},{"speaker":"Unknown","startTime":1385.97,"endTime":1388.67,"body":"grand or either go to the house"},{"speaker":"Unknown","startTime":1385.97,"endTime":1388.67,"body":"and make those repairs he wasn't"},{"speaker":"Unknown","startTime":1388.67,"endTime":1391.31,"body":"going to close. So of course you"},{"speaker":"Unknown","startTime":1388.67,"endTime":1391.31,"body":"know what happened, the seller"},{"speaker":"Unknown","startTime":1391.31,"endTime":1395.3,"body":"said we're not going to close"},{"speaker":"Unknown","startTime":1391.31,"endTime":1395.3,"body":"and the everybody left the part"},{"speaker":"Unknown","startTime":1395.33,"endTime":1398.93,"body":"or the closing parking lot, and"},{"speaker":"Unknown","startTime":1395.33,"endTime":1398.93,"body":"the buyer was still ranting and"},{"speaker":"Unknown","startTime":1398.93,"endTime":1402.65,"body":"raving few weeks later, we get a"},{"speaker":"Unknown","startTime":1398.93,"endTime":1402.65,"body":"phone call from the seller."},{"speaker":"Unknown","startTime":1402.65,"endTime":1404.36,"body":"Apparently this was an"},{"speaker":"Unknown","startTime":1402.65,"endTime":1404.36,"body":"investment property which they"},{"speaker":"Unknown","startTime":1404.36,"endTime":1409.7,"body":"didn't live in. But they found"},{"speaker":"Unknown","startTime":1404.36,"endTime":1409.7,"body":"out that the buyer had moved"},{"speaker":"Unknown","startTime":1409.7,"endTime":1413.72,"body":"most of his belongings into"},{"speaker":"Unknown","startTime":1409.7,"endTime":1413.72,"body":"their garage, and literally had"},{"speaker":"Unknown","startTime":1413.72,"endTime":1417.77,"body":"pitched a tent in the backyard"},{"speaker":"Unknown","startTime":1413.72,"endTime":1417.77,"body":"and was living in their backyard"},{"speaker":"Unknown","startTime":1417.77,"endTime":1422.18,"body":"and using the water hose in the"},{"speaker":"Unknown","startTime":1417.77,"endTime":1422.18,"body":"backyard for cooking and for"},{"speaker":"Unknown","startTime":1422.18,"endTime":1427.25,"body":"taking bath. So he just decided"},{"speaker":"Unknown","startTime":1422.18,"endTime":1427.25,"body":"to squat on the property as if"},{"speaker":"Unknown","startTime":1427.25,"endTime":1430.73,"body":"it was his own. And they had to"},{"speaker":"Unknown","startTime":1427.25,"endTime":1430.73,"body":"go through an entire eviction"},{"speaker":"Unknown","startTime":1430.73,"endTime":1435.23,"body":"process to get him off the"},{"speaker":"Unknown","startTime":1430.73,"endTime":1435.23,"body":"property. And that is by far one"},{"speaker":"Unknown","startTime":1435.23,"endTime":1438.68,"body":"of the best examples of Corona"},{"speaker":"Unknown","startTime":1435.23,"endTime":1438.68,"body":"craziness that I have seen. And"},{"speaker":"Unknown","startTime":1438.68,"endTime":1441.38,"body":"now let's roll right into Gary's"},{"speaker":"Unknown","startTime":1438.68,"endTime":1441.38,"body":"good news. Only a lot of good"},{"speaker":"Unknown","startTime":1441.38,"endTime":1444.17,"body":"things going on out there to"},{"speaker":"Unknown","startTime":1441.38,"endTime":1444.17,"body":"share with you today. Wells"},{"speaker":"Unknown","startTime":1444.17,"endTime":1447.86,"body":"Fargo just released a report"},{"speaker":"Unknown","startTime":1444.17,"endTime":1447.86,"body":"saying that they expect a swift"},{"speaker":"Unknown","startTime":1447.86,"endTime":1453.23,"body":"recovery for the US economy in"},{"speaker":"Unknown","startTime":1447.86,"endTime":1453.23,"body":"2021. Based on the vaccines,"},{"speaker":"Unknown","startTime":1453.44,"endTime":1457.16,"body":"they stated that there was tons"},{"speaker":"Unknown","startTime":1453.44,"endTime":1457.16,"body":"of pent up demand by consumers"},{"speaker":"Unknown","startTime":1457.16,"endTime":1459.53,"body":"and if you think about that, how"},{"speaker":"Unknown","startTime":1457.16,"endTime":1459.53,"body":"many people have you talked to"},{"speaker":"Unknown","startTime":1459.53,"endTime":1463.25,"body":"that are dying to go on a"},{"speaker":"Unknown","startTime":1459.53,"endTime":1463.25,"body":"vacation or go do something so"},{"speaker":"Unknown","startTime":1463.88,"endTime":1467.06,"body":"if the vaccine does come out of"},{"speaker":"Unknown","startTime":1463.88,"endTime":1467.06,"body":"as effective as we believe it"},{"speaker":"Unknown","startTime":1467.06,"endTime":1470.36,"body":"should be 96% effective is what"},{"speaker":"Unknown","startTime":1467.06,"endTime":1470.36,"body":"they're saying. Then a lot of"},{"speaker":"Unknown","startTime":1470.36,"endTime":1472.52,"body":"people will be ready to get back"},{"speaker":"Unknown","startTime":1470.36,"endTime":1472.52,"body":"out and start spending money and"},{"speaker":"Unknown","startTime":1472.52,"endTime":1474.77,"body":"that's good news. All right. Now"},{"speaker":"Unknown","startTime":1472.52,"endTime":1474.77,"body":"we're gonna roll into Gary's"},{"speaker":"Unknown","startTime":1474.77,"endTime":1477.53,"body":"good news only as we finish our"},{"speaker":"Unknown","startTime":1474.77,"endTime":1477.53,"body":"episode today. First of all,"},{"speaker":"Unknown","startTime":1477.53,"endTime":1481.16,"body":"Wells Fargo has reported they"},{"speaker":"Unknown","startTime":1477.53,"endTime":1481.16,"body":"expect a swift recovery for the"},{"speaker":"Unknown","startTime":1481.16,"endTime":1485.0,"body":"US economy in 2021 based on the"},{"speaker":"Unknown","startTime":1481.16,"endTime":1485.0,"body":"vaccines, again, these are"},{"speaker":"Unknown","startTime":1485.0,"endTime":1488.18,"body":"vaccines that were developed in"},{"speaker":"Unknown","startTime":1485.0,"endTime":1488.18,"body":"less than six months because of"},{"speaker":"Unknown","startTime":1488.21,"endTime":1493.34,"body":"operation warp speed. incredible"},{"speaker":"Unknown","startTime":1488.21,"endTime":1493.34,"body":"feat of the US mind power to get"},{"speaker":"Unknown","startTime":1493.34,"endTime":1497.78,"body":"such important things done in"},{"speaker":"Unknown","startTime":1493.34,"endTime":1497.78,"body":"six months. Wells Fargo sided"},{"speaker":"Unknown","startTime":1497.78,"endTime":1500.66,"body":"pent up demand is the main"},{"speaker":"Unknown","startTime":1497.78,"endTime":1500.66,"body":"reason that the I would make a"},{"speaker":"Unknown","startTime":1500.66,"endTime":1504.02,"body":"swift recovery. I think it'll be"},{"speaker":"Unknown","startTime":1500.66,"endTime":1504.02,"body":"when the governor is finally in"},{"speaker":"Unknown","startTime":1504.02,"endTime":1507.23,"body":"these lockdown so people can go"},{"speaker":"Unknown","startTime":1504.02,"endTime":1507.23,"body":"back to work and provide for"},{"speaker":"Unknown","startTime":1507.23,"endTime":1509.15,"body":"their families that will get the"},{"speaker":"Unknown","startTime":1507.23,"endTime":1509.15,"body":"economy rolling more than"},{"speaker":"Unknown","startTime":1509.15,"endTime":1511.73,"body":"anything. The second thing to"},{"speaker":"Unknown","startTime":1509.15,"endTime":1511.73,"body":"share with you is my good friend"},{"speaker":"Unknown","startTime":1511.73,"endTime":1514.73,"body":"Edie Andel and I were talking"},{"speaker":"Unknown","startTime":1511.73,"endTime":1514.73,"body":"yesterday, and he was one of"},{"speaker":"Unknown","startTime":1514.73,"endTime":1518.27,"body":"the, the builder, executive"},{"speaker":"Unknown","startTime":1514.73,"endTime":1518.27,"body":"construction owner and builder"},{"speaker":"Unknown","startTime":1518.27,"endTime":1520.31,"body":"of executive construction homes"},{"speaker":"Unknown","startTime":1518.27,"endTime":1520.31,"body":"here in Columbia, South"},{"speaker":"Unknown","startTime":1520.31,"endTime":1523.19,"body":"Carolina. He was on one of my"},{"speaker":"Unknown","startTime":1520.31,"endTime":1523.19,"body":"podcasts a couple of weeks ago,"},{"speaker":"Unknown","startTime":1523.4,"endTime":1526.7,"body":"where we talked about some"},{"speaker":"Unknown","startTime":1523.4,"endTime":1526.7,"body":"lumber issues. But Eddie was"},{"speaker":"Unknown","startTime":1526.7,"endTime":1529.52,"body":"telling me he was listening to a"},{"speaker":"Unknown","startTime":1526.7,"endTime":1529.52,"body":"real estate economist who was"},{"speaker":"Unknown","startTime":1529.52,"endTime":1532.31,"body":"saying that they expect this"},{"speaker":"Unknown","startTime":1529.52,"endTime":1532.31,"body":"real estate boom to last, at"},{"speaker":"Unknown","startTime":1532.31,"endTime":1536.21,"body":"least, and to 2022. So while"},{"speaker":"Unknown","startTime":1532.31,"endTime":1536.21,"body":"some of us were a little"},{"speaker":"Unknown","startTime":1536.21,"endTime":1540.26,"body":"concerned that this real estate"},{"speaker":"Unknown","startTime":1536.21,"endTime":1540.26,"body":"economy was a bubble, and next"},{"speaker":"Unknown","startTime":1540.26,"endTime":1543.11,"body":"year, we would lose a good"},{"speaker":"Unknown","startTime":1540.26,"endTime":1543.11,"body":"portion of it. National"},{"speaker":"Unknown","startTime":1543.11,"endTime":1545.72,"body":"economists say no, this is going"},{"speaker":"Unknown","startTime":1543.11,"endTime":1545.72,"body":"to last well through next year"},{"speaker":"Unknown","startTime":1545.72,"endTime":1549.11,"body":"into 2022. And this kind of"},{"speaker":"Unknown","startTime":1545.72,"endTime":1549.11,"body":"mirrors what realtor.com is"},{"speaker":"Unknown","startTime":1549.11,"endTime":1552.68,"body":"saying, because realtor.com"},{"speaker":"Unknown","startTime":1549.11,"endTime":1552.68,"body":"predicts a 7% increase next year"},{"speaker":"Unknown","startTime":1552.8,"endTime":1556.22,"body":"in sales. So that's also very"},{"speaker":"Unknown","startTime":1552.8,"endTime":1556.22,"body":"good news. Now today, the"},{"speaker":"Unknown","startTime":1556.22,"endTime":1559.25,"body":"economy is looking still good"},{"speaker":"Unknown","startTime":1556.22,"endTime":1559.25,"body":"with the Dow Jones over 30,000"},{"speaker":"Unknown","startTime":1559.25,"endTime":1559.79,"body":"points."},{"speaker":"Unknown","startTime":1560.39,"endTime":1564.26,"body":"Now on the COVID. Front, what"},{"speaker":"Unknown","startTime":1560.39,"endTime":1564.26,"body":"better news Can I give you then"},{"speaker":"Unknown","startTime":1564.29,"endTime":1567.8,"body":"the first vaccine was given to"},{"speaker":"Unknown","startTime":1564.29,"endTime":1567.8,"body":"somebody in Europe, an 80 year"},{"speaker":"Unknown","startTime":1567.8,"endTime":1570.65,"body":"old lady received the first"},{"speaker":"Unknown","startTime":1567.8,"endTime":1570.65,"body":"doses of the vaccine from"},{"speaker":"Unknown","startTime":1570.65,"endTime":1575.12,"body":"Pfizer. This week, we understand"},{"speaker":"Unknown","startTime":1570.65,"endTime":1575.12,"body":"from the ministration, that the"},{"speaker":"Unknown","startTime":1575.21,"endTime":1578.51,"body":"vaccine is being delivered as we"},{"speaker":"Unknown","startTime":1575.21,"endTime":1578.51,"body":"speak to frontline workers here"},{"speaker":"Unknown","startTime":1578.51,"endTime":1582.08,"body":"in the United States, and that"},{"speaker":"Unknown","startTime":1578.51,"endTime":1582.08,"body":"Americans should be receiving"},{"speaker":"Unknown","startTime":1582.08,"endTime":1585.41,"body":"the vaccine within days, they're"},{"speaker":"Unknown","startTime":1582.08,"endTime":1585.41,"body":"still thinking well over 100"},{"speaker":"Unknown","startTime":1585.41,"endTime":1589.58,"body":"million doses could be out. By"},{"speaker":"Unknown","startTime":1585.41,"endTime":1589.58,"body":"February, which would be almost"},{"speaker":"Unknown","startTime":1589.58,"endTime":1592.52,"body":"a third of our entire country"},{"speaker":"Unknown","startTime":1589.58,"endTime":1592.52,"body":"could have received some form of"},{"speaker":"Unknown","startTime":1592.55,"endTime":1596.24,"body":"vaccination for those who want"},{"speaker":"Unknown","startTime":1592.55,"endTime":1596.24,"body":"to get it. Lastly, this is an"},{"speaker":"Unknown","startTime":1596.24,"endTime":1599.93,"body":"interesting story. So, you know,"},{"speaker":"Unknown","startTime":1596.24,"endTime":1599.93,"body":"I know a lot of people were"},{"speaker":"Unknown","startTime":1599.93,"endTime":1604.07,"body":"concerned about Thanksgiving and"},{"speaker":"Unknown","startTime":1599.93,"endTime":1604.07,"body":"that this, we will see a"},{"speaker":"Unknown","startTime":1604.07,"endTime":1606.68,"body":"tremendous number of new cases"},{"speaker":"Unknown","startTime":1604.07,"endTime":1606.68,"body":"as a result of Thanksgiving. And"},{"speaker":"Unknown","startTime":1606.68,"endTime":1609.62,"body":"right now we are seeing new"},{"speaker":"Unknown","startTime":1606.68,"endTime":1609.62,"body":"cases. But the interesting thing"},{"speaker":"Unknown","startTime":1609.62,"endTime":1611.99,"body":"is it has nothing to do with"},{"speaker":"Unknown","startTime":1609.62,"endTime":1611.99,"body":"thanksgiving. If you look at the"},{"speaker":"Unknown","startTime":1611.99,"endTime":1615.62,"body":"weekly change and national COVID"},{"speaker":"Unknown","startTime":1611.99,"endTime":1615.62,"body":"hospitalizations between"},{"speaker":"Unknown","startTime":1615.62,"endTime":1620.3,"body":"November 10 and 17th. They were"},{"speaker":"Unknown","startTime":1615.62,"endTime":1620.3,"body":"up 24% from November 17, to the"},{"speaker":"Unknown","startTime":1620.3,"endTime":1626.09,"body":"24th 14%. From the 24th to"},{"speaker":"Unknown","startTime":1620.3,"endTime":1626.09,"body":"December one was 12%. Remember,"},{"speaker":"Unknown","startTime":1626.33,"endTime":1628.94,"body":"thanksgiving was what the last"},{"speaker":"Unknown","startTime":1626.33,"endTime":1628.94,"body":"couple of days of November, so"},{"speaker":"Unknown","startTime":1628.94,"endTime":1632.54,"body":"hospitalizations would have been"},{"speaker":"Unknown","startTime":1628.94,"endTime":1632.54,"body":"up by December 1. Mad Decent"},{"speaker":"Unknown","startTime":1632.54,"endTime":1636.65,"body":"refers to decent, right, they're"},{"speaker":"Unknown","startTime":1632.54,"endTime":1636.65,"body":"only up 6%. So what that showing"},{"speaker":"Unknown","startTime":1636.65,"endTime":1640.28,"body":"is that the decreased look at"},{"speaker":"Unknown","startTime":1636.65,"endTime":1640.28,"body":"the numbers went from 24% to 14"},{"speaker":"Unknown","startTime":1640.28,"endTime":1644.51,"body":"to 12 to six, so that it doesn't"},{"speaker":"Unknown","startTime":1640.28,"endTime":1644.51,"body":"appear that Thanksgiving has had"},{"speaker":"Unknown","startTime":1644.51,"endTime":1648.02,"body":"really any significant increases"},{"speaker":"Unknown","startTime":1644.51,"endTime":1648.02,"body":"on that at all. I would caution"},{"speaker":"Unknown","startTime":1648.02,"endTime":1649.73,"body":"you to be very careful when you"},{"speaker":"Unknown","startTime":1648.02,"endTime":1649.73,"body":"hear the numbers of"},{"speaker":"Unknown","startTime":1649.73,"endTime":1652.88,"body":"hospitalizations are overrun,"},{"speaker":"Unknown","startTime":1649.73,"endTime":1652.88,"body":"actually go look at and you'll"},{"speaker":"Unknown","startTime":1652.88,"endTime":1656.03,"body":"see that most of the hospitals"},{"speaker":"Unknown","startTime":1652.88,"endTime":1656.03,"body":"are actually not overrun. And"},{"speaker":"Unknown","startTime":1656.03,"endTime":1659.66,"body":"there's a very few hospitals are"},{"speaker":"Unknown","startTime":1656.03,"endTime":1659.66,"body":"even over 80% capacity."},{"speaker":"Unknown","startTime":1659.87,"endTime":1662.63,"body":"Remember, hospitals are"},{"speaker":"Unknown","startTime":1659.87,"endTime":1662.63,"body":"typically over 80% capacity"},{"speaker":"Unknown","startTime":1662.63,"endTime":1666.65,"body":"anyway, because of normal, use"},{"speaker":"Unknown","startTime":1662.63,"endTime":1666.65,"body":"the hospitals and make money"},{"speaker":"Unknown","startTime":1666.65,"endTime":1670.37,"body":"being at 50% capacity. So we"},{"speaker":"Unknown","startTime":1666.65,"endTime":1670.37,"body":"haven't seen any hospitals,"},{"speaker":"Unknown","startTime":1670.88,"endTime":1674.42,"body":"right yet that are above"},{"speaker":"Unknown","startTime":1670.88,"endTime":1674.42,"body":"capacity. So if you're hearing"},{"speaker":"Unknown","startTime":1674.42,"endTime":1677.12,"body":"that in the media, that's not"},{"speaker":"Unknown","startTime":1674.42,"endTime":1677.12,"body":"really being you're not really"},{"speaker":"Unknown","startTime":1677.12,"endTime":1679.88,"body":"being provided the whole story"},{"speaker":"Unknown","startTime":1677.12,"endTime":1679.88,"body":"there. So go to the CDC website."},{"speaker":"Unknown","startTime":1680.06,"endTime":1682.07,"body":"And you can look on their"},{"speaker":"Unknown","startTime":1680.06,"endTime":1682.07,"body":"website, and they'll show you"},{"speaker":"Unknown","startTime":1682.28,"endTime":1685.4,"body":"where the hospitals are laying"},{"speaker":"Unknown","startTime":1682.28,"endTime":1685.4,"body":"around our city. But you got to"},{"speaker":"Unknown","startTime":1685.4,"endTime":1689.42,"body":"also keep in mind that when they"},{"speaker":"Unknown","startTime":1685.4,"endTime":1689.42,"body":"say hospitals at 75% capacity,"},{"speaker":"Unknown","startTime":1689.51,"endTime":1692.09,"body":"you have to understand that"},{"speaker":"Unknown","startTime":1689.51,"endTime":1692.09,"body":"hospitals should be at 75%"},{"speaker":"Unknown","startTime":1692.09,"endTime":1694.64,"body":"capacity. Otherwise, they're not"},{"speaker":"Unknown","startTime":1692.09,"endTime":1694.64,"body":"making any money. They don't"},{"speaker":"Unknown","startTime":1694.64,"endTime":1698.81,"body":"make money by having empty beds."},{"speaker":"Unknown","startTime":1694.64,"endTime":1698.81,"body":"So that's today's good news only"},{"speaker":"Unknown","startTime":1698.81,"endTime":1701.18,"body":"and I hope you all enjoyed that."},{"speaker":"Unknown","startTime":1698.81,"endTime":1701.18,"body":"Hope you all will call him back"},{"speaker":"Unknown","startTime":1701.18,"endTime":1704.69,"body":"next week for another episode of"},{"speaker":"Unknown","startTime":1701.18,"endTime":1704.69,"body":"dishing dirt. We appreciate all"},{"speaker":"Unknown","startTime":1704.69,"endTime":1707.54,"body":"of your support of this podcast."},{"speaker":"Unknown","startTime":1704.69,"endTime":1707.54,"body":"As I've said many times before,"},{"speaker":"Unknown","startTime":1707.54,"endTime":1711.38,"body":"if you'll please share it like"},{"speaker":"Unknown","startTime":1707.54,"endTime":1711.38,"body":"us and subscribe to us. We would"},{"speaker":"Unknown","startTime":1711.38,"endTime":1714.17,"body":"greatly appreciate it and you"},{"speaker":"Unknown","startTime":1711.38,"endTime":1714.17,"body":"can also follow me on Instagram"},{"speaker":"Unknown","startTime":1714.2,"endTime":1718.52,"body":"at Pickering Gary. That's PSC k"},{"speaker":"Unknown","startTime":1714.2,"endTime":1718.52,"body":"r e n d a r y hope everybody has"},{"speaker":"Unknown","startTime":1718.52,"endTime":1719.24,"body":"a wonderful week."}]}