Hangin' with Gannon Episode 7 - Realtor Laura Carney

New episode of Hangin’ with Gannon !!

Got a chance to sit down with Laura Carney of TTR Sotheby’s International Realty. We talked waterfront living, the art of touring properties by boat, and why this market is truly one of a kind.

This one’s special.  Full episode here.  Clips on social media.

#HanginWithGannon #LauraCarney #EasternShore #LuxuryRealEstate

Transcript

SPEAKER_02 0:04

Welcome to episode seven of the Hangin with Gannon Podcast. I'm Pat Gannon, your host and your lender for life with over 26 years of helping families secure their dream home through intelligent financing. And by now you must know we're on all platforms wherever you get your podcast. Subscribing to our podcast helps us out and gives you the new episodes as soon as they post. The full podcast, along with our social media clips, can be found on our YouTube channel. And if you fully subscribe, that will put you in the hanging with Gannon inner circle. And who doesn't want to be in the inner circle? Today I'm excited to have a very special guest with us, Laura Carney with TTR Sotheby's International Realty. Laura is a senior vice president and one of the top agents with TTR Sotheby's, isn't in the top 1.5% of real estate agents nationwide. She's been in real estate for 40 years and is consistently over 50 million in volume annually. But what makes Laura truly unique is that she's a Talbot County native. Her family's been on the Eastern Shore for generations. So when she's selling properties in St. Michael's, Easton, and Oxford, she's selling the places she calls home. Laura also enjoys touring waterfront properties by boat with her clients to give them a completely different perspective. Laura, thanks so much for being here with us today and welcome to the podcast.

SPEAKER_03 1:30

Thank you, Pat. It's great to be here.

SPEAKER_02 1:32

Yeah. Um, well, let's we're gonna jump right into it. I I always like to kind of start with someone's origin story so we kind of get a little bit of understanding about you personally and how you how you got it. So let's just talk about it, you know, where you grew up and then kind of how that led to your real estate career.

SPEAKER_03 1:49

Uh yeah, growing up on the Eastern Shore was really a gift. My mother's family, gosh, goes back generations. And I grew up on a farm, and we also spent a lot of time on the water. I think most of us had boats, and um that's how we got around to friends' homes. And it was really a special time. Obviously, things have changed, but um it still gives me the opportunity for when I'm out with clients, especially new clients who don't know the shore very well, to give a little bit of a glimpse into the lifestyle that that I grew up in and um how it's changed. And I always like to say that, you know, there's been a lot of growth, of course, over the several decades. Um, but it's been more controlled growth, I think, in Talbot County, which has kept the natural beauty of it. Um there's it's very vibrant and uh there's plenty of things to do. But the heart of it really um the has been the charm that it's retained. And I think they've done a really good job of that. And it's um fun and exciting for me to show people around and say, oh, this, you know, used to be a farm here, or um, where there might be a target. Um, but the sense of it is still it's it's kept its true um character, I'd say.

SPEAKER_02 3:08

Well, that that's I I don't think I knew all that. That's it's really neat the connection with your father, and then then you were doing it in DC and then back to the Eastern Shore where you are now. Um, with your immense success in real estate, what's been your secret success in this market?

SPEAKER_03 3:24

You know, I think a number of factors. Um obviously experience, um, because I, as I said, I remember the Rolodex days. Right, right. We didn't, I don't even think we had computers that had listings. I can't remember. Everything was on your landline for sure. But I remember having the big um like the billboards in the office and uh writing listings down and you know who you who what agents were selling, which which properties. So the experience, um, but I think when you when I go back and I really hone in on the difference, I work probably 24-7. I mean, I don't know what when I have a day off, I don't really know what to do with it. But um I think that's one of my downfalls is trying to balance work and life. But but as I said, I'm I'm there 100% for my clients. I've got a pulse on the market, I know um properties that that perhaps aren't listed right away. You know, they're sort of what we call uh private exclusives or off-market. Um and I think you just have to be in it a hundred percent. Um, and and then know the nuances um and be able to read your clients. Um listen. I think listening and communicating and really being transparent.

SPEAKER_02 4:36

Yeah, I think listening for me is uh is sometimes I I have to I catch myself sometimes when I'm talking to a client. I I have the answer. I want to I want to interject and give them the answer, but I I need it, Pat, listen, and then oftentimes they'll say something different and then it'll lead to a different answer. And I would have never gotten to that. And I think they also feel like I'm jumping on them and they they want to get out what they want to say.

SPEAKER_03 5:01

So active listening, I think is and it's asking questions and really trying to hone in on what they're looking for because so often um for my clients, and you know, you initially meet them, you don't know them well, um, and it's really asking the questions that are important for me to be able to, you know, sort of make the choices uh and guiding them to maybe a property that is that they they wouldn't have thought of.

SPEAKER_02 5:25

Right. That's that's uh that's really good. Um we you know, we talked about that. I talked about this in the opening. I just think it's neat. So I wanted to talk about is the idea of you tour, sometimes you tour waterfront properties by boat. Um tell us about that and how does it change the experience for the buyers?

SPEAKER_03 5:44

Well, as I said, I think uh we have I have clients that come down, they don't know the shore that well. Um, so we might be looking in Queen Anne's County and then or Talbot. Um, and so that's a decision right there where they have to decide um, you know, what lifestyle that they want. Um Talbot County has over 600 miles of shoreline. And there are the creeks and the uh rivers and you know, different aspects of every property. I mean, every one of them is different, uh, waterfront properties. So to take them out by boat, to take them um around maybe it's Oxford or St. Michael's, um and just show them the different different sides of it. Because when you're looking at a property or a home by by land, especially if one is, you know, a lot of acreage, it's really hard to, you know, you're not gonna necessarily walk it. Um, but taking them by boat gives them a different um perspective on it. Um and it might be that they want to be closer to Oxford, they want to be closer to St. Michael's. Even if you're out on the Miles River, being able to say, well, the Y River and Y Island, I mean, it's all accessible by boat, but it's difficult to get there by land or longer. So to take them out on a boat trip um to show them elevation, um gosh, I mean, there's so many factors that they appreciate it and it gives them a different view. Now, obviously I can't do it in the winter time, so you know it's uh a little tough, but as soon as the the weather gets nice, you know, I might call them up saying, Hey, you never got out on on boat, and maybe they don't have one yet. So as soon as we can get the boat in the in the water, um I'll you know, I'm happy to do it and and I enjoy doing it.

SPEAKER_02 7:25

That's great. Yeah, I think that you know any home for anyone spying is a a big investment, but certainly, you know, we'll get into a little bit, but the price points on the water is a is a major investment and you want to understand water depth and yeah, like you said, how easy is it to get to where where you want to spend time when you're on the boat, it lets you want to be close to where you can get to where you want to get quickly, or it's quick, you know, much quicker. Um, well, let's stay on the eastern shore because I think those that are listening, potential buyers, sellers, really want to understand the market. Um, so let's just talk about the Eastern Shore in general. For people that are unfamiliar with the area, what makes the shore so special and why do you think people fall in love with it?

SPEAKER_03 8:10

I think um, and you've probably heard that it's been talked about or described as the Hamptons of the um of the mid-Atlantic. And I think that's true. And I I'm still surprised. I mean, of course, it's it's been discovered, but I still feel like it's a really a hidden gem. And I I I have clients who come down and they'll say, gosh, I really never I never knew this existed. Maybe they have a friend who um bought um, you know, or bought a second home, so they go back and they tell their friends and this is how these people um found it. Or they're boaters or they're new, you know, new to boating, because um I think the whole Chesapeake Bay is such a incredible region for boaters, particularly um sailors. So uh the special qualities, I would say, you know, when you come across the the Bay Bridge, there's a sense of um I don't know, it's it's maybe a let your hair down. Um just a release of of pressure. Um and I think everybody says, gosh, it just takes your your um blood pressure down a bit. Yeah. As soon as you hit the shore, it's something about coming over that Bay Bridge and you're you're there. And it's um it's a I I guess the the shore has a quiet, maybe it's a quiet presence. Yeah. You know, it's private, it's um you can get in as involved as you want, or I mean there's things happening every weekend.

SPEAKER_00 9:37

Yeah, there's I feel like there's a festival every every weekend somewhere, somewhere on there.

SPEAKER_03 9:40

Yeah, um, hard to keep up with them all.

SPEAKER_00 9:42

Yes, it is, it really is.

SPEAKER_03 9:44

But I think there's you can come down and just you know, be in your private setting and in your private home and and have guests down and never see, never go into town. Um, I think there's there's a luxury to that that is pretty special.

SPEAKER_02 9:57

Yeah, for me, it just seems, you know, I I live I live on the other side of the bridge, but I, you know, I I feel like on this side of the bridge, there's still that DC hustle and bustle feel that envelops me every day in 24-7 working and and I'm so focused on speed and execution. But I really appreciate the short time mentality, you know, being on short time. And and the best example that I give when I talk about it and what I do is with appraisers. Um, when we when we order an appraisal, when it gets scheduled, where they tell us when it's going to be done and when we expect it to have. And I used to, so I always let the agent and the client know when it's expected to be back. And I made this mistake a couple of times where I said, yes, the appraisal will be in on a property on the eastern shore. And it took a couple other days for it to come in. I think it's because the appraisers on the shore are like, yeah, well, well, we should have an owner at the time. So now I just say, you know, might be around this time. I'm I'm clear. I don't I don't want to there. So that that's the shore time. And I sometimes it can be annoying in the j on the job that I do, but I appreciate the laid back, relaxed attitude.

SPEAKER_03 11:04

Um well, even when I um I was in Connecticut for 10 years and then came back with my family and my husband's from the shore too. So 2004, we came back. And even I was a little bit like, okay, come on, I called a contractor. Why didn't he call me back? Yes. And now I'm, you know, obviously 20 years later, I'm telling my clients, you know, that's just the way it is. And you've got to just take a step back. Um, and I'll make that call to the contractor to say, hey, you've got to call this person back. But it's it is a laid-back um feeling, but it's nice. It's you know, once once you adjust to it, it's um it's a good way to live a little slower. Good way to live.

SPEAKER_02 11:44

A little slower, yeah. And I I need that slowness in my life sometimes. Um break down kind of the I mean, these are only three, you know, there's a there's a million and one towns and cities um on the shore, but break down the difference between, let's say, St. Michael's, Easton, and Oxford.

SPEAKER_03 12:01

So I would say um Easton is definitely like our cultural hub. Um, the courthouse is there. Um I feel that that's it's not actually waterfront. Well, part of it is, but you don't have as much waterfront living as you do, say, Oxford or St. Michael's. But um great restaurants, uh, a lot of entertainment, um, festivals are there. It's it's as I said, I I really do think it's more of our hub.

SPEAKER_01 12:25

You like our art culture, culture, like culture if that's a term, right?

SPEAKER_03 12:30

Absolutely. Um, you've got the Academy of Arts, um so many other things. And as I said, the great restaurants. Um I would say uh Oxford, more of a quiet, more quiet. Um couple good restaurants down there too, but it's um I think it's the oldest town in all of Maryland. And it's a quaint, sort of quaint village in my mind. It's it's as I said, small, um, surrounded by water.

SPEAKER_02 12:59

Um lots of history, I'm sure, there too. Yeah, so much.

SPEAKER_03 13:03

And it's it's absolutely beautiful, just really beautiful. But it's it it very laid back. Um, and then St. Michael's a little bit more um, a little busier for sure, especially weekends in the summertime, a little touristy, um, but uh historic, charming. Um, and actually the real estate market in St. Michael's, even for the inland, because you're surrounded by water there too, um, prices have gone up and it's it's just been an interesting um, I don't know, the last few years watching St. Michael's.

SPEAKER_02 13:35

St. Michael's is probably my favorite part there. Yeah. And it makes sense because you said it can be touristy, and I would be considered a tourist there. But um, anytime we have any kind of get-togethers down in St. Michael's, I usually uh I tell my wife, well, let's get a hotel or you know, a bed and breakfast down there, we'll do the happy hour, whatever the get-together is, and then yeah, we'll we'll spend the night bouncing around and seeing the the places, especially when the weather's good.

SPEAKER_03 13:57

So they have and they have uh more waterfront restaurants.

SPEAKER_02 14:00

Right.

SPEAKER_03 14:00

Of course, and great, you know, obviously others as well, but it's fun.

SPEAKER_02 14:05

Uh all right. So this is this is probably more what really buyers and sellers want to hear about too. And this is what's going on right now, currently on the eastern shore market, eastern shore market. You know, you could talk about inventory, but really it are we in a buyer's market, a seller's market. What's what's the market looking like, Laura?

SPEAKER_03 14:25

Yeah, our inventory um still very low, but we're seeing a difference in um properties that, you know, of course, during COVID, everything was selling. Um, and pre-COVID, actually, we had an inventory that was, you know, a few years of of inventory. Um, thanks sitting. COVID came, all everything was bought up. Um, we're starting to see a more stable or more, I guess, normal market. But if a good property comes on, um especially waterfront, um, the buyers are out there. I just I just sold one on Saturday that um actually it was a video. I the buyers weren't even in town. But there were the pr the property was priced well, great location, great condition. Um waterfront was beautiful. And it it they had 11 showings. And so I knew um I called these my buyers and I said, I'm you know, it's gonna go. So we did a video tour. And I've the only other one I've done of that uh was about three years ago and sold through a video. So that property, you know, it shows us that the buyers are the buyer demand is out there, they're willing to pay up for for something that they see as a as good value, fair value, let's put it that way, that sort of checks all the boxes. Um so the the the flip side though is if I I think pricing is so critical because if we have a property that is, say, a little bit further out of town or um the views aren't great or the water depth isn't you know fantastic and the price is a little high, it's not gonna go. It's gonna sit. And that's because most of the buyers for waterfront homes are you know secondary. They're looking at it for second homes. And so dealing, it's more of discretionary income. They don't have to buy, they really would prefer to to wait. Um and they'll they're a little bit more discerning, I'd say.

SPEAKER_02 16:23

Yeah, so that's so you say the second home buyers because it's so they're so prevalent. Yeah, um, that really d does have a huge impact on the market in on the eastern shore, yeah, for sure.

SPEAKER_03 16:33

And so we're starting, of course, it's spring. We're starting to see more things come on. But again, when I'm talking to sellers, I'm like, we it's critical that we get this pricing correct. And if they want to start a little higher, I I'll be willing to do it, but I'm gonna say, you know, in three weeks, we'll know the market tells us right away.

SPEAKER_04 16:51

Right.

SPEAKER_03 16:51

Um, because with this this house that had 11 buyers, there's 10 of them that didn't get it. So there's 10 people out there sort of looking for that same thing to come along, um, or something similar. And so obviously there is a demand. Um the flip side for sellers, I uh it's critical again back to the pricing. Yeah, but it's also I have a property coming on that, you know, the the owners have been there for you know 30 years. So staging it, decluttering. Um, I always say you've got to you've got to move the things anyway. So let's get started now. And I and I'll bring it a stager if if need be. Um and another thing I think is critical is is having a pre-inspection because I've been on the other side of working with with buyers and they're all excited, and then you get to the inspections and this and the listing agent might have asked questions but did not do a pre-inspection. And then you know, the you know, septic issues arise or the doc or this or the bulkhead is shot. And that it it can blow up a deal. And so disappointing for my buyers, they ended up buying something else. But I tell the story uh so often when I go in just to say, you want to know it's going to come up in an and you know, in inspections. Um, so let's be ahead of it.

SPEAKER_00 18:11

Why bury your head?

SPEAKER_03 18:12

Yeah, because you're gonna lose, and then it costs you maybe months if a if a septic is um needs to be replaced or something like that.

SPEAKER_02 18:20

And then and then someone when you get it back on the market, someone's seen it's you know, it was on the marathon, you know, you've got that like scarlet letter of the market and you know, we're gonna we're gonna lowball this one and and then you kind of get in that and and that's gets back to why you say price it right from the beginning. Yeah. Don't you know, don't over or make an adjustment quickly. Don't let it sit because then it becomes something that everyone, you know, I when I talk to potential buyers that it's been on the on the market, they wanna they want to offer a lot less. Yes. And and even if that's not gonna work out for the seller, that's you you kind of get in that cycle.

SPEAKER_03 18:56

And I think um timing too, uh, and again, this goes back to communicating and listening. Um the sellers that I work with, you know, it's everybody, I said everybody has their stories, um, and they're all in different chapters of their lives. And I think it it is really important to understand, you know, maybe somebody isn't ready to to move until the end of the summer. Maybe there's been a death in the family and they're trying to get um, you know, their the estate um settled. Maybe um they're they want to downsize or move closer to their kids. There's everybody has a reason. And so that's a question that I ask, you know, are you if you want to move and you want to just move on, um, then let's even price it maybe a little bit more um aggressively, you know, and and more realistically. So I think those are just questions that's that as a listing agent um working for the seller are important to ask.

SPEAKER_02 19:53

Yeah. And I and I think that that um we were talking a little bit before this about why I think it's so important to have an agent that you, a real estate agent that you're working with that is obviously one of the best in the area, but also does a lot of transactions because markets change you know, month to month, week to week. And you could be looking at homes that you can negotiate a home inspection on on everything and you know, can have a financing agency or whatever these things that you normally can't, and then the market can change and suddenly you can't get those things. I mean, you know, if a buyer wants them, they they certainly should should have it, whatever they're comfortable with, but they at least need to have the information from their agent that right now I don't think this is flying this market, and you hate to miss out. Sometimes I feel like sometimes agents have contingencies on contracts that they don't need anyway that that that they did. I mean, everyone loves every protection, but if that protection wasn't really necessary and they lost the house because of an unnecessary protection, a an agent that really understands and does a lot of transactions is gonna probably advise them before they miss out on a home there and and kind of learn the hard way on that. Um you're uh, you know, obviously we talked about you're a top one percent agent. Uh what uh what does luxury waterfront look like here on the on the shore versus other markets?

SPEAKER_03 21:24

So going back to saying um, you know, we've been described as the Hamptons of the Mid-Atlantic, um I think we still um are so well priced according uh you know compared to the Hamptons or Palm Beach or you know, pick pick on any of these other markets. Um Jackson Hole is now coming up as, you know, one of the huge um top luxury markets. Sure. Um I I think our waterfront it's not as ultra dense as some of those, you know, those other areas where they have just chock a block built every every square inch. And that's the beauty of the Eastern Shore. Um, several of these homes and properties were originally estate, old estates or, you know, really uh thousands of acres of farmland. Um they were manor homes. So they're historical. Um, and we have a one uh one home per 20 acres. It's our it's what we call a critical area zoning.

SPEAKER_04 22:23

Okay.

SPEAKER_03 22:23

Um, which has kept our waterfront and and going back to touring um by boat, people's comments are I can't believe how much water frontage there is with that's so um natural that you're not just having home, home, home. Um so that limits our inventory right there. We only have so many waterfront homes. Um I f I think of the Eastern Shore as sort of a quiet luxury. Um we have ultra wealthy people who who live there and you they're so unassuming. You can go into a a restaurant or a bar and you have no idea you're sitting there and nobody cares. It's really it's you know we all you know, you might have a um a contractor sitting next to, you know, whoever, and CEO or something like that. And nobody it it's I think um the shore just brings everybody a more on a level playing.

SPEAKER_02 23:19

I mean, getting back to that when I was telling you that we spend some time in in in uh St. Michael's at night and we'll go to one of the watering holes down there and grab a drink. And it's funny, yes. I've talked to doctors and yeah, the con who whatever, just different walks of life that I think in some settings or some other places wouldn't be yeah, you know, it sounds weird, but it wouldn't be mixing that way. And I that's what I think makes I think that what's makes it so cool.

SPEAKER_03 23:46

Yeah. And I think um, as I said, it's there's a privacy factor as well um that makes it really special. Um, and as I said, you can come down and get as involved as you want. We have um members of boards of say the Chesapeake Bay Maritime Museum or um the Academy of Arts, uh highly educated, highly successful people who have moved down, retired, and stay involved. Yeah, yeah. And that's that's it's so um amazing and it's a gift to to so many of our cultural um and arts uh you know events.

SPEAKER_02 24:22

Yeah, that that they're involved, someone that's d done really well uh with with with whatever they did in in their uh you know working life. Yeah, they want to give back to do that, and now they're giving those efforts to and willing, willing to share their expertise. That's that's really that's I think that's really neat.

SPEAKER_03 24:39

Yeah.

SPEAKER_02 24:40

Um I wanted to ask you about this, and I think this really ties into what we're talking about specifically about the second uh home buyers that are that are looking on the shore. How how what's let's talk about the Sotheby's advantage? Okay. How does being a Sotheby's international uh real estate agent help you market Eastern Shore properties to a global audience? You know, specifically, it makes me think about the second home part of it.

SPEAKER_03 25:03

You know, working with TTR Sotherby's um international reality has just been a game changer. Um they are really thought of as probably the top firm in the Mid-Atlantic region. But being um affiliated with the Sotheby's brand, the iconic Sotheby's brand, I think a lot of people would r recognize that name back to you know the history of the auction house. But real estate, I think that um our firm is really the the top in the region. Um from leadership down, they they instill professionalism, integrity, um, discretion. Um they are there to support us. And it's just a phenomenal firm to work with. Um I think combining my experience on the shore, the history of um of living there, you know, and growing up, um, and being able to combine that with the global reach that Southern Southern's brand provides is just um extraordinary. Um our marketing team is beyond exceptional. Each property that I that I list is unique, um, and every seller deserves the the best, the best that I can give. That includes the top-notch photography, um, beautiful videography. Um our marketing team really has created um amazing campaigns both digitally and and print-wise. I think also T TR Sotherby's provides countless opportunities and keeps us really on our toes about um trends in the market and not just regionally but but nationally. So we have global networking events that we attend, um, in addition to Inman Connect, which um is offered a couple times a year, different parts of the of the country, where we get to go and you know listen to extraordinary speakers and again keep a pulse on the market, and that enables me to really guide and advise my clients um on market conditions and and where maybe we need to turn or to um pivot, possibly a different property, or um if the market is changing how we negotiate uh an offer and strategize. Um we have nine offices and spanning from Middleburg to the shore, 550 agents, um all of whom are exceptional. I think, as I said, the leadership expects us to, you know, be at the top of our game. And it is an absolute honor to work, work with so many um professionals.

SPEAKER_02 27:53

I mean, everyone can put it something on Zell. I mean, everything's on Zell. Everyone can access that, but it's a different level. Different level for for the type of properties that you're listing, being able to, and because it's such there's so many buyers that are coming to the area to to buy those properties from outside the area that just having the the old school marketing of a property doesn't cut it.

SPEAKER_03 28:17

Well, and they they showcase the property so well. I mean, I you know, I have a professional photographer, you know, we do videos, um, top-notch firms. Um I use one out of DC along with a great photographer on the Eastern Shore, too. But they all have to they're up to they all have to be um up to the standard. Yeah. And, you know, there are no cell phone photos going into listings. I see them out there every body. A bad photo, yeah. Yeah. Um, no, everything's top-notch and it's expected. And I I wouldn't give my clients anything less. Um, and I think that's what's critical is how we um we put a listing or a property out there. If it's not completely ready to go, I'm not doing it. And um, you know, a little bit of a a wait or getting something right is worth it because I think buyers now are so savvy and they're all so um uh they're they're on that internet all the time. Yeah. So if you don't get them in the first few minutes or seconds, um, with great photography and um, you know, some some really good language, you're gonna lose them. And you and you don't get it back.

SPEAKER_02 29:27

Makes sense. Uh well let's Laura, let's dive into something that I'm you know, let's bring the mortgage world into this a little bit here. Um mortgage interest rates. Uh what are you seeing as that impact on the Eastern Shore right now? I mean, we kind of talked about the market, but how you know when when someone talks to you or asks you about, I'm sure it comes up, even though you don't, you're not the mortgage, you know, you're the captain of the ship, so they're asking you about everything, I'm sure. Um when interest rate, the topic of interest rates comes up, what what did what is what do you what is your response to them?

SPEAKER_03 30:01

So obviously um a lot of my buyers, and and I think it started um during COVID, because we were competing, a lot of them were were writing offers that were cash. Um, and I think that was across the board and in a lot of areas. Yeah. Um, but it didn't mean that they weren't really savvy as to you know what rates were or that they weren't going to go get one. They just didn't, you know, it just wasn't going to be contingent on that. So these rates are um very important, obviously critical to everybody. Um and I think whether they're getting a loan from their private bank or um somebody like you who is, you know, you've got such incredible programs that I think um make such a difference. Um and so I I it it does matter um even on the uh down on the shore um with second home buyers as well.

SPEAKER_02 30:57

Yeah, I think uh, you know, we often you know we mean second home buyers, luxury home buyers typically have they're super well qualified in if you use common sense for things. But oftentimes, you know, after the you know the 0708 time when you know the the housing bubble, so to speak, uh the the mortgage products really shrunk down and got really, really uh a very small box to qualify. So oftentimes someone could have five million dollars in the bank, but no from a lendings perspective, they didn't have the verif verifiable income to qualify. They couldn't get a mortgage. Well, now we've really opened it up. There's more alternative options that are common sense. It's not, you know, uh what's your income? We're just gonna say this number. We're actually basing it off of something. You know, is it assets? Is it rental, you know, if they're buying rental income or bank statements, whatever it might be to alternatively do it. So I think that really is matched with that client, that type of client having really good options for them, not just knock you over the head interest rates that you have to get. This is you know, really good rates, really good programs, and they match the outside, maybe the more like what I'll call the outside-the-box lender uh or loan. Um this is uh something that I think we talked a little bit about. I know you run into these a lot, and I think this is probably for these second home buyers um that are looking for something really specific. You know, you're really known for your patience with your clients. Um maybe there's one story you could tell us about a client or or just a the average client who might take 18 months, a couple of years to find the right property. What's your approach with a client like that?

SPEAKER_03 32:47

Uh twofold, I I would say. Um I definitely have people who come down and they'll and they're just starting to look. And that's that's great because I think when they're first starting, often they don't have really any idea what the shore is like. So it's my my job to enter to um really explain the different areas. Um I, you know, I think I'm tour guide a lot of the time, I'm psychologist a lot of the time. I mean, you know, yeah, a lot of everything. Um but you have to have patience because it's again, if you're not asking the questions and you're not explaining the areas, you want them to be where they where they really should be, I guess. And whether they want to be close to town or do they mind driving, you know, 20 minutes, is it important for them? Some people some of my clients want to just be able to walk into um restaurants. That that is totally different than um those who, you know, there obviously there those that know it well that say this is the only area I want to be. I don't want to be past St. Michael's, um, I don't want to be, you know, towards Oxford. Who knows? It's everybody's different. Or they would have a preference of um which river they want to live on. So um you have to have patience because our inventory, again, is is pretty low. I think the mistake that some some buyers might, uh, you know, and again, I'm having to educate um some mistakes they might make is oh, it doesn't that property isn't exactly perfect. So I'm just gonna wait for the next. And I'll say, you know, we're not living in DC, or you know, you're not just a you know, blocks and blocks of homes where if one sells, we'll just get the next one. These especially waterfront properties, they're all unique. Nothing, and I always I always comment, it doesn't matter what price range you're in, it's never going to be perfect. Yeah. Even the $15 million, which it's it's sounds crazy, but that's true, right? And so nothing's perfect. So if it checks most boxes, I don't want them, and I'll and I'll say I don't want you to lose it because of one or two things. Um, or flip side, if you want to wait and hope it comes, you get another one, but you might be waiting. So again, it comes back to timing. Do they want to be in by next summer or or they like you don't want to do that?

SPEAKER_00 35:08

Yeah, are you okay if it takes two or three years to get there?

SPEAKER_03 35:11

And if that's their answer, so be it. Um I'm I of course I'm gonna do it. Um, but again, I think it's a lot of it is educating, educating on value, um, on what things are selling for, and maybe that's what takes some time. I had one buyer though that came down a couple from DC who had moved from California to DC. They wanted a second home. Um it was they had a dog, and that was they just wanted something close to St. Michael's. So they called me on one property, and this was last year, and we really were limited in the inventory at that point and pretty much what they were looking for in the price range. So we saw this house, fit them like a glove. And I said, Well, let's just go see a couple others. Um, because I didn't want them to feel like they hadn't seen anything else. Yeah, give them perspective. But I knew, I knew that that was the right house. So ended up going and seeing a couple others, and they're like, Oh, I don't know, but we just started looking. And I told them the story. I said, I'll just tell you, this that house is really special. She priced it really well. And I'm just gonna leave it at that. And so they called and they made a you know offer, and they have said to me, you know, Laura, we've watched that market in the last year, nothing's come on. And I've had several other clients who have said the same thing. God, I'm so glad we bought when we did. Yeah. But if it's not right and they are all excited, like if there's something that I see, I'm I'm the first to say, don't do it. Yeah. Um, I, you know what, it's just not worth it. And their their interests, their, you know, there's this is a huge investment. And that is too important to me to not not have it be as right as it can be.

SPEAKER_02 36:50

Well, so I think people sometimes, um, I mean, I knew you, I know you know this, that feel that they just can't, whatever they see first, they can't that can't be their one because that would be rushing into something and that they can didn't see it all. You may have fine, you might have found the perfect one. Like that would, that's me. No, like I I would go, I've I'd get excited about the first thing that I saw. You know, I have uh, but yeah, I think um educating them and yeah this yeah, you're probably right, this isn't the right one based on what you're saying, or like like you said, it this doesn't always come around. And can you and are these things that you that doesn't check all the boxes, are they fixable? Right, like if it's something in the home that yes, you know, can be done. I mean i at a cost, but maybe that's that's pricing of the offer or whatever whatever it might be. But if it's we want to be closer to this, well, that that doesn't you that's not fixable.

SPEAKER_03 37:44

Yeah, well, and sometimes I think um obviously people have done their homework. Yeah, a lot of them have. And so they have these notions of, you know, I I I've heard that I need at least four feet of water, or and my question is, well, so are uh what kind of boater are you? Oh, well, we don't have a boat, or and I and I'll say, well, generally you don't need four feet. You don't don't don't just w cross this one off the list because if you found something at two and a half feet and you just want to have a center console outboard, you'll be fine. And if you love everything about it, then don't don't pass it by because you've you heard that you needed four feet of water.

SPEAKER_02 38:24

Um so you're educating them, yeah, you're about boating, right?

SPEAKER_03 38:27

I mean it it it otherwise if they're a sailboater, then you know, gosh, yeah, how much is a draw? Because this three foot um mean low is not gonna work. So, you know, you have to take into account um their needs. And and the most important things, you know, sometimes they're like, we just want to go out and um kayak around, then that's a different thing.

SPEAKER_02 38:49

Yeah, then yeah, that's it, yeah. Um well uh and this could doesn't necessarily have to be financing challenges, but I certainly these things could be things that are challenging for financing. Um on eastern shore properties, is there something that's unique about that you've been seeing that makes it more difficult? Um insurance. Yeah, yeah.

SPEAKER_03 39:09

Big insurance is a big one. Um over the last few years, and I and I, you know, it stems from the coastal issues down in Florida and um, you know, along the the coastline of of um you know storms and and the hurricanes, especially in Florida, um, and insurance companies just you know really uh being affected. So it's it's has a um ripple effect coming up to us as well. And um I, you know, whether it's storm, so so roofing actually is a big one. Um and now I'll have clients and they're putting on a new roof, and I'll say, Don't don't get anything. It doesn't pay to do a 50-year roof because the insurance companies, if it's older than 15 years, I mean you can find some that'll do 20, but not many. And some are even 10.

SPEAKER_02 39:56

Right, and that's everywhere, right? Yeah, I'm running that. Yeah, not just the shore everywhere.

SPEAKER_03 40:01

Inland homes. Um and and then so you have that, then you also have um um insurance companies who are really, you know, how far is it from the fire department?

SPEAKER_02 40:10

And that's the shore thing. I mean, that's really because that's you know, you're and so that's another issue.

SPEAKER_03 40:16

Um, so there's numerous factors. Some of these bigger farms um that sell are are all of those things. Roof, roof might be older, um outbuildings, you know, multiple outbuildings that have roofing issues. Um, and then they're essentially the most of them are too far from the fire department.

SPEAKER_02 40:36

And I think is that something you talk uh through maybe with the seller when you're on a listing appointment or uh getting ready to list a property? Hey, this might be an issue. Let's let's have an answer for this before you know when the before the buyer asks for it. So you immediately come back and say, hey, this is yeah, we checked into this, or this is uh this is how the seller does it.

SPEAKER_03 40:55

Yeah, and most yeah, the most of the sellers have their own, you know, have insurance, obviously. Um there have been a few that have called and they'll say, you know, yeah, we'll be we're willing to talk to a buyer about that. Um so that's a great answer. We also have, you know, great insurers on the on the shore that, you know, if somebody's coming from the DC area and they're they're hoping that their insurance insurance company from over there is going to insure the second home, it's it's not going to be easy. Um, and often they're turned down. So sometimes they'll have to bundle it. And so the the insurance company or insurer from the Eastern Shore will bundle not only this the second home, but they're they'll take over the primary home, their vehicles, boats, whatever, um, to make it happen. And often it's at less cost. So um that's there is an answer. I mean, generally I don't have somebody who can't get insurance, but it's just trickier. Um and that brings up you know, flood insurance. That's actually un unless somebody's really averse um and a and a property is totally in the flood complete flood zone, um flood insurance is not expensive even for the bigger properties and um it's transferable. So that that actually is uh something that's a little easier to get than um this other home insurance.

SPEAKER_02 42:17

Yeah, that's I mean, when I'm doing the mortgage part of it, if it is in a flood zone, I'm you know, I I don't I say it's I don't ever think it's a deal killer necessarily, but you should before you make an offer on a house, you should find out more about potentially what it would cost do that. So you're not shocked and surprised, you're under contract, you go and get it, and like, oh, I didn't know it was gonna be 10,000 a year or whatever the number would be.

SPEAKER_03 42:43

That's the thing, it never is. Yeah, it's never that much. Yeah, and that's and as an agent, you know, that's my job to to educate. And obviously, uh, you know floods or uh, you know, climate change, whatever you know people are calling it, um, is definitely on their minds.

SPEAKER_04 42:58

Yeah.

SPEAKER_03 42:59

And they're looking at it and they'll pull up. Um, they've got easy access to to the flood maps.

SPEAKER_04 43:05

Yeah.

SPEAKER_03 43:05

Um we our flood maps actually changed in 2016 and took some people out of the flood zone, put others in. So it's it's continuously changing. But that's my job again to educate on that. And if it's a really big worry to somebody, then you know, I'll say let's pass on that one.

SPEAKER_02 43:22

Yeah. Well, that's another another great reason why having a really good real estate agent that knows their craft helps.

SPEAKER_03 43:30

Yeah. Um so many, so many different uh things. And and I can go back to, you know, why it's important to have an an agent from the area.

SPEAKER_04 43:40

Yeah.

SPEAKER_03 43:40

Um, no, you know, we're dealing with septics, wells. All of that is truly it's it's critical to um to know what inspections are really necessary. O you know, underground um oil tanks. Things that that maybe agents who are coming from uh the Western Shore over might not think about.

SPEAKER_04 43:59

Yeah. Um

SPEAKER_03 44:00

Um or hundred foot zoning or um critical air. It's well the setbacks. Yeah. Um, you know, what trees can you take down, if any? All of that, that unless you live there or know it, uh I don't know, your c your client, they're probably not gonna know it. So you've got to, it's just more educated.

SPEAKER_02 44:18

Yeah, then you get the call after they bought and with not not a happy client. No. And you don't want that.

SPEAKER_03 44:24

No.

SPEAKER_02 44:24

So Laura, you know, we we talked about it. You know, you are working 24-7. Um, but you do have to have some time to yourself and and and maybe get some sleep sometimes. Uh, I know you have a team that supports you. Why don't you tell us the listeners a little bit about how that dynamic works?

SPEAKER_03 44:41

Uh yeah, so I have um my incredible assistant, she is incredible. Jennifer Mack. Uh I could not do it without her. She's licensed. She is the most just giving, um, always has a smile on her face, and um happy to, you know, I can get a little cranky, I'm sure, at times. And she is uh just as patient with me as as anything, and um always willing to help and step in. And she's been with me now for a couple of years, and it's almost like we, you know, we can answer each other's sentences. And it's I I honestly don't know how I could make it without her. And her relationship too with um the marketing team, um, and others, you know, the the Sotheby's um uh teams that help us with our marketing and and and uh and more um that relationship that she has is is wonderful. And so it's just makes everything so seamless and um and a lot easier. Um we are a machine that just keeps going and and we've got we've got it down so that you know every listing we are you know, obviously we have our our points that that have to be done, um, but she just keeps everything on you know, on task and uh like clock.

SPEAKER_02 45:58

Yeah, she can be an expert in that and and you and you your clients can reap the benefits of that, but you're you can be focused in on what you do best, yeah, which is advising and and and and knowing business and having someone like their like that is great. And I I think Jennifer was a big reason that you're here. I've I'd been every time I talked to her, I was like, are we getting Laura on the podcast or not?

SPEAKER_03 46:19

So I was really I was really excited that uh that she Yeah, she's such an advocate, and uh and and she she could be a really good agent as well. Um, but she doesn't seem to want to be. I'm like Jennifer, you could do this too. And um, she's great with my clients. Uh everybody loves her, and um, I am so fortunate um to have her here. That's great.

SPEAKER_02 46:39

Yeah. Shout out to Jennifer. Um, all right. We're about to hit enter something very exciting, Aura. Um it's our it's most of our listeners' favorite part of the program. It's called the Ganon Gauntlet. And the Ganon Gauntlet is a you know, every podcast has to have this rapid fire questions about, you know, random stuff that you have to be ready for. But we added this here recently, and I still don't really know. I thought of it late at night, and now it doesn't really make any sense. But now the gauntlet gets crazy. So there might be lights flashing everywhere. So we need to put on our gauntlet glasses. And I think you brought your gauntlet glasses today. So get those gauntlet glasses on, and then we are gonna start. Are you ready to enter the Ganon Gauntlet?

SPEAKER_03 47:25

I am.

SPEAKER_02 47:26

Okay. Number one, what are the first few things you notice in the first 10 seconds of walking into a house?

SPEAKER_03 47:35

Condition, views, and how it makes me feel.

SPEAKER_02 47:42

Love it. Love it. Um, next one, and I know we've talked a little bit about some of the places you've been, so I'm gonna hit this. I'm I'm really interested to hear this. Name the five, name five countries you've been to, and for each, give just one quick wild moment in maybe five words or less.

SPEAKER_03 47:58

All right, so I'll preface this by saying um I was lucky enough during college years to go on um semester at sea. Okay. So I was able to see a lot of countries then. So I would say uh China and being able to um climb the Great Wall. Okay, um India, seeing the Taj Mahal and riding in a um rickshell. Pretty crazy. Uh let's see. Um uh Kenya, uh hot air ballooning, um New Zealand, bungee jumping. Um and then I would say let's see. Uh this was a a trip that I took that I came across from Norway to Halifax by boat in like late September. And that was one hell of a ride.

SPEAKER_02 48:57

Ah, I bet. Yeah. That's great. Well, I I think we'll need to have you back for another episode of the podcast, and we're not gonna even talk about any real estate. I want now we're gonna expand on all those uh those trips because they're good ones. They're that that they sound amazing. Here's another one that I you told me this and it clicked in my head, and I said, I am gonna ask her this question because I think especially with the Olympics that we just had and all the excitement of the U.S. men's and women's team winning the uh the gold medal. You were at the miracle on ice.

SPEAKER_03 49:27

Yes. Oh my gosh.

SPEAKER_02 49:28

So I need to know, and for listeners don't know, then that was uh when the U.S. uh beat the Soviet Union in the 1980 uh Olympics in uh in New York and Lake Placid. So how did you end up there? Who were you with? And what do you remember about the crowd reaction when the U.S. won?

SPEAKER_03 49:46

So I was there with my roommate um from University of Vermont, still a dear friend of mine. And I that was my first semester. Um, and her parents had a place in Lake Placid. So she got a you know, asked if I wanted to go, and a bunch of us on the floor, um on her dorm floor, and said, I've got tickets um to events. Do you want to go? So of course, jumped on that one and and went. Um we had the obviously the best time and brought it back watching America, you know, the US beat Canada um uh, you know, a couple of weeks ago. And the energy that you know, I didn't know a lot about ice hockey really, other than you know, going to UVM and um they had ice hockey there, but it's again, it was I was you know new to the school. Oh my gosh, the energy it it was electrifying and so fun. And um I can't believe it was 46 years ago though. That that hit home the other day. I was like, wow. Um, but I'll never forget it and what a gift that was. That is I mean, just um once in a lifetime.

SPEAKER_02 50:51

I can't, yeah. I consume anything related to that. You know, the movie, Mirable and all that and you know, I think even Netflix has a a new like a documentary uh you watching.

SPEAKER_03 51:00

Those players, yes. Um, and that hit home too.

SPEAKER_02 51:04

Yeah, the young college guys that were there against against the big bad Soviet Union.

SPEAKER_03 51:09

Yeah, it was so so amazing. Great for the country. What a what a great what a great story. What a great place to, you know. Oh my gosh, I was so lucky to be there.

SPEAKER_02 51:18

All right, we're gonna shift gears here. Um, we didn't talk, we talked about your entering your real estate career, but what were the toughest job or jobs that you did before you got into real estate?

SPEAKER_03 51:30

Uh so my father was big on uh yeah, we had to work every summer growing up. Um, and so my teen years, I worked two summers um sanding and varnishing boats.

SPEAKER_02 51:41

Okay.

SPEAKER_03 51:42

Uh Grand Bank specifically, down in Oxford. And that that was hard. It was really hard. You know, I'd get down there break of dawn and I was there till, you know, six o'clock at night. Um, but it was fun. It was a, you know, there was a good group of us, and you know, I learned to work hard.

SPEAKER_02 52:00

Yeah. Um you were all in it together. So you're working hard, but you weren't the only one doing it. And yep.

SPEAKER_03 52:05

And then I also pumped gas um and worked at um Easton Marina. So that was, you know, that was fun though. Again, seeing different people come in on their boats, but you know, it was just um learning good work. Your work ethic. Yeah. It was it was really um, I'll never forget it. Obviously, a waitress did other stuff.

SPEAKER_02 52:24

But those, those were um the sanding and varnishing were yeah, I bet you those are all things that yeah, we talk about you know, working the work ethic, and that's why I think you're really, really, really good at what you do, and it it has to all start somewhere, and you you learn that from our you know, your your family. Yes, you know, and uh that's great. Um, all right, next one. What's your favorite time and event of the year?

SPEAKER_03 52:51

That's an easy one. Uh fall would be my favorite time. Um and I love, I mean, it's again, the natural beauty of the Eastern Shore is it's beyond anything. Um, and I and obviously I've been a lot of places in the world. That um that time of year, you know, it's sort of the coolness sets in, the geese, all of a sudden you hear the geese, um Canadian geese come in, and that sound is always magical to me. Yeah. Um and so that leads into waterfowl festival.

SPEAKER_02 53:22

I knew that's where you were going with that.

SPEAKER_03 53:23

And actually, um, growing up, our um we were friends of the kids whose whose father started it. Okay. So 50 some years ago. Um, so we've been going for a number of years, and it's just it, you know, it draws people in from all over, even if they're just coming for the day. Um there's there's probably as many dogs as there are people. But they close off the town. Um, the events are amazing, the sculpture, um, sculptures, the artists that uh come from I think they're international now.

SPEAKER_04 53:55

Yeah.

SPEAKER_03 53:56

Um and and again, incredibly talented local um artist. There's uh the you know, duck um retrievers or the retrievers and they they do all those demonstrations. And then one of my favorite ones are the goose callers. And I don't know how many people go to the high school, but you can sit in those chairs and listen to these goose and duck callers. And if you close your eyes, you honestly you don't know the difference. And um, it's still just I I just love it. It's it's really special. And it's obviously it's probably one of the most popular events in in town.

SPEAKER_02 54:31

Um that's uh a few years ago. I didn't know anything about it maybe five years ago, and then someone at the I was like waterfowl festival, what is that? And then everyone, yeah, and then it's kind of like a an eastern tradition, um a huge tradition. And I I remember trying to I was like, oh, I'll get a hotel uh down there. My wife and I will go, and they're like you better stay in Annapolis if you want to uh there's no hotels anywhere. So if you're gonna plan, if you're if you want to spend the night, you better you better make your you better do your uh do it very early.

SPEAKER_04 55:04

Yep.

SPEAKER_02 55:05

All right, last question. And this um I want you to to describe Easton Maryland in five words.

SPEAKER_03 55:14

Cultural, historic, vibrant, welcoming, my home.

SPEAKER_02 55:25

That was six, but uh no, my home.

SPEAKER_03 55:28

I'm just kidding.

SPEAKER_02 55:29

No, that was great. No, that was great. That was a that was an amazing answer. Um and that's it. You survived the Gannon Gauntlet. Congratulations.

SPEAKER_04 55:40

Thank you for having me back.

SPEAKER_02 55:42

Um okay. Well, that's it. We're gonna we're gonna wrap up. I I want to thank you, Laura, for uh coming on on the show. It I really um, you know, it was absolutely my pleasure having you on. Thank you. Um and hope you can come back soon. And I really um just always impressed with when working with you. I know that the the deal is gonna is is is buttoned down. Um, you're gonna do your best for your clients, whether the buyers or the sellers. Um, so I really just do appreciate that.

SPEAKER_03 56:11

And um I can say the same for you, Pat.

SPEAKER_02 56:14

Thank you. Thank you. Um, why don't you tell the listeners here if they're uh a buyer, a seller, or just want to talk about real estate, uh, talk about the Eastern Shore with you. What's the best way that um someone can reach you?

SPEAKER_03 56:26

I'd say the easiest way is just my website, um lauracarney.com. It has all my information on there. Um, easy to remember. And um, otherwise, if you're in Easton, stop by. We're uh my office is on Goldsboro Street. Um, the Southern's International Realty. So would love to see and meet um anybody who's thinking about uh moving to the shore.

SPEAKER_02 56:48

Love it. Well, that's uh gonna wrap us up for episode seven of the Hanging with Gannon podcast. We're gonna be back with episode eight shortly, but thanks for listening, and as always, thanks for hanging with Ganon.