No Need for a RE Agent to Buy/Sell Any Property Type (CFF 374)
No Need for a RE Agent to Buy/Sell Any Property Type
Jack Butala: No Need for a RE Agent to Buy/Sell Any Property Type. Leave us your feedback for this podcast on iTunes and get the free ebook at landacademy.com, you don’t even have to read it. Thanks for listening.
Jack Butala: Jack Butala with Jill DeWit.
Jill DeWit: Hi there.
Jack Butala: Welcome to our show today. In this episode Jill and I talk about no need for a real estate agent to buy or sell any property type, any property type.
Jill DeWit: Any property type?
Jack Butala: You don’t need …
Jill DeWit: Any property type.
Jack Butala: … a real estate agent. Imagine that. I love this topic. It’s Jill week by the way. Jill chose all these topics.
Jill DeWit: Thank you.
Jack Butala: Before we get into it, let’s take a question posted by one of our members on LandAcademy.com. It’s our online community and it’s free.
Jill DeWit: In a minute I’ll tell you my real title here for this because I like it. Okay. Robert asked, “On location based sales sites like Craigslist and Facebook, do you only post your property for sale in the area it is located? For example, if you have an Arizona property would you just post it on an Arizona Craigslist?”
Jack Butala: No. I would post it in Los Angeles, I would post it in anywhere you think someone would be interested in buying property in Arizona, which is everywhere.
Jill DeWit: Back east.
Jack Butala: Craigslist specifically … Yeah some real stringent rules about posting the exact same thing, the exact same posting, and I mean exact, in multiple areas. You have to change the ad up. You have to change a posting pretty dramatically to pass their tests. Reword it, you can’t copy and paste almost anything.
I talk about it in our land program that there’s a product that we do really well with called Vacation Properties. For instance, Northern Michigan we sell property- you would never post a Northern Michigan property in a- you would do it, but in addition to that you would post it in the Chicago Craigslist and the Detroit because people vacation up there. Same thing with Florida. People buy Florida property all up and down, they live up and down in the East Coast.
To clearly answer your question Robert, no. I would post it all over the place, wherever you can. I don’t have as much experience with Facebook ads. I mean a lot of experience with Facebook ads, but not as much with Facebook Marketplace specifically where it’s five or eight or 10 or 50 or I think even 100 miles out. It’s brand new and I’m more about doing this show and some other things than posting properties these days.
Jill DeWit: It’s true.
Jack Butala: Our members are telling us that Facebook Marketplace is an awesome place to sell property.
Jill DeWit: Right. In the groups, there’s a lot of groups.
Jack Butala: Facebook groups.
Jill DeWit: There’s a lot of groups that not only are the groups about those vacation properties, but they might be other investors and things like that. Great place to post property in Facebook groups. Jack and I, you could hit a couple hundred thousand people in a Facebook blast for free in 10 minutes. It’s not hard at all.
Jack Butala: Yeah. Our combined reach is in the millions.
Jill DeWit: That takes about 20 minutes.
Jack Butala: Yeah. [crosstalk 00:02:51] We have LandPin set up, which is our land website where members sell stuff and we do too. You can share it with the social media settings on each posting. You can share specific to a group. It’s pretty amazing. It’s still very, very new. In fact we launched the site last week. I don’t know what the outcome’s like, but I know every time we do something in Facebook we had a fantastic response.
Jill DeWit: I do know members that are already selling property off LandPin.
Jack Butala: Oh really?
Jill DeWit: Yeah. We talked about it on our member call.
Jack Butala: Oh yeah yeah. During the incubation period let’s call it.
Jill DeWit: Uh huh.
Jack Butala: Yeah.
Jill DeWit: Exactly.
Jack Butala: If you have a question or you’d like to be on the show, reach out to either one of us on LandAcademy.com. Today’s topic, and this is the meat of the show, you don’t need a stinking real estate agent [crosstalk 00:03:43] anything.
Jill DeWit: That’s my title.
Jack Butala: Is it really?
Jill DeWit: Yeah. You don’t need no stinking real estate agent. That is my title.
Jack Butala: Say it again because I want the whole world to understand this.
Jill DeWit: You don’t need …
Jack Butala: You don’t need a real estate agent.
Jill DeWit: … a stinking real estate agent. Not that they all stink but [crosstalk 00:03:59]
Jack Butala: I would venture to say that your life would better without one.
Jill DeWit: I had three points with this.
Jack Butala: Go ahead. This is Jill Rants Week.
Jill DeWit: It is. Number one, point number one, I thought everyone knew this. This is the funniest thing to me. I really thought everyone knew this.
Jack Butala: Yeah.
Jill DeWit: Remember a long time ago the F-S-B-O, FSBO?
Jack Butala: Yeah.
Jill DeWit: For Sale By Owner. You can do that. It doesn’t matter what it is.
Jack Butala: Yeah.
Jill DeWit: It’s interesting because, and it’s most states, not all states, let me back up here, most states you can just walk in and do it by yourself. It’s interesting because Jack and I’ve talked to people that are … We know people in our world that they market to mom and pop apartment building owners and they’re selling it on their own. Can you imagine? These people have owned these apartment buildings for years and years and years. It might be 26 units and Mr. and Mrs. Smith still own it and now Mr. and Mrs. Smith are selling it and they’re not going through an agent because they don’t need to.
Jack Butala: Yeah. It happens at commercial real estate all the time because there’s associations and stuff like apartment building owner associations.
Jill DeWit: Exactly.
Jack Butala: It’s real simple.
Jill DeWit: The second point is-
Jack Butala: All you need is a title agent for that.
Jill DeWit: That. Thank you there’s my second point.
Jack Butala: I’m sorry Jill.
Jill DeWit: No you’re great.
Jack Butala: I’m just stealing your thunder.
Jill DeWit: No you’re great. You rolled right into point number two which is it saves money and going through-
Jack Butala: That saves hundreds of thousands of dollars.
Jill DeWit: Going through escrow they do all the work. That’s it. You don’t have to worry about. That big stack of forms, you don’t need to know that and you don’t need an agent because they’re going to explain the big stack of forms for you.
Jack Butala: You don’t need the big stack of forms.
Jill DeWit: Escrow. You don’t even need some of the big stacks of forms.
Jack Butala: You don’t.
Jill DeWit: It’s true. There’s a lot less forms. Especially there’s no financing involved. Your escrow agent, if it’s a bigger deal, maybe it’s $100,000 transaction, they’re going to walk you through it all.
Jack Butala: They do all the work anyway. Real estate agents don’t know anything.
Jill DeWit: They do the hard work. That’s true.
Jack Butala: They know how to input stuff in the MLS. Most of the time, that’s the only reason any of these properties sells anyway, trust me. The vast majority of this whole thing is a conspiracy. I know we have members who are real estate agents, I get it.
Jill DeWit: I know.
Jack Butala: I get it. I get that people are busy so they got to hire somebody and all that.
Jill DeWit: Yeah. There’s times.
Jack Butala: There are certain people who should walk into a dealership and buy a car.
Jill DeWit: Right.
Jack Butala: Here’s an example. If you have a daughter who’s, I don’t know, 18 or 19 years old and you want her to have a safe car, a safe new car, then I think that’s one that you should walk into a dealership with her and buy a car from a dealer that’s brand new and the whole thing because there’s service and all of it. For the rest of us, I just think that we can buy it off of Craigslist just as well. You don’t need a dealer to do a car deal.
Jill DeWit: You know what the only other kookie thing I could think of to do a car dealer is, without naming names, we all know … We all know this person, we all have this person in our world where they’ve got to pick out the leather, they’ve got to pick out this, they want to pick out that.
Jack Butala: Or they have OCD and [crosstalk 00:07:08]
Jill DeWit: They need these attributes for this … They might even fly to Germany to oversee this …
Jack Butala: Oh my God.
Jill DeWit: … transaction unfold.
Jack Butala: I know exactly what you’re talking about.
Jill DeWit: Those people. Exactly. They’re almost there waiting when the boat pulls up with it, like with flowers for their BMW. I’m sure somebody’s done that.
Jack Butala: Jill and I have this old Lexus that we’ve had for a lot of years. It’s like the family car, we call it, what do you call it? The airport car.
Jill DeWit: It’s the airport car.
Jack Butala: Just leave it at the airport.
Jill DeWit: Yeah.
Jack Butala: For years and years we’ve had this car. She was cleaning it one day, like two years ago, and she found a cigarette butt.
Jill DeWit: Yeah.
Jack Butala: Which clearly wasn’t any of ours.
Jill DeWit: Yeah.
Jack Butala: Some people just flip their lid. If they have OCD …
Jill DeWit: They have to have a new car.
Jack Butala: Yeah. We bought the car used, that’s my point. Whoever was in there …
Jill DeWit: Yeah.
Jack Butala: It’s fine.
Jill DeWit: Yeah. That’s so funny. Yeah. Isn’t that funny? They don’t know where that car’s been. Oh please. Really?
Jack Butala: Yeah. Really it’s going to be fine.
Jill DeWit: It’s silly. All right. That was point number two with our tangent there about car sales. My point number three is about you don’t need an agent. You know investors know this. Trust me.
Jack Butala: Yeah.
Jill DeWit: We use this to our advantage.
Jack Butala: That’s right. People in the industry know. They know. Real estate agents know this. Jill and I had been kicking around the idea of doing a whole show about just bashing real estate agents. I’m wondering that’s-
Jill DeWit: The whole thing just makes me laugh every time I think about it.
Jack Butala: Me too.
Jill DeWit: I’d love to hear people’s feedback on this one. I would love to know, maybe that would be something fun people could send us as we research this. If you feel so inclined, feel free. Send it to Jack not to me by the way.
Jack Butala: If you have a rant-
Jill DeWit: Send us your horror story.
Jack Butala: Every single- all six people listening to this radio show right now have a story about a real estate agent that starts off like this, “I can’t believe I paid that person $38,000 for three minutes of work.”
Jill DeWit: Exactly.
Jack Butala: I just think the world’s packed full of stories like that.
Jill DeWit: Uh huh. I concur.
Jack Butala: It’s one of the reasons I started the land business that we have.
Jill DeWit: Right.
Jack Butala: In the nineties because I’m sick of it. Not only real estate agents, it’s not just them, it’s … everybody you have to pay to get a real estate deal.
Jill DeWit: I know.
Jack Butala: You don’t have to pay anyone the way we do it.
Jill DeWit: We keep joking about this too and we should do it. Probably should’ve done it on this show, but we’ll do it in the one … We should sit and read a HUD-1 and talk about all the line items.
Jack Butala: Oh my God. Boy there’d be-
Jill DeWit: … that are on there.
Jack Butala: Instead of six listeners we’d have three.
Jill DeWit: If you have to spend the night in a hospital and you look at the hospital bill later. You go what the heck? I wouldn’t have ordered that glass of water if I knew it would’ve been $300.
Jack Butala: What the hell are you talking about Jill? When were you in the hospital?
Jill DeWit: Are you serious?
Jack Butala: No I know you’re right, but when did you ever look at a hospital?
Jill DeWit: Like years ago. Years ago. I just know.
Jack Butala: When the kids came.
Jill DeWit: That was one. Yes. Anyway. You look at it going, I spent how much? Wait, wait it was a cup of ice. Hold on a moment. Why was there an extra charge for that? Anyway.
Jack Butala: It’s conspiracy. Trust me. You don’t need a real estate agent.
Jill DeWit: Nope.
Jack Butala: I don’t even have a list. You covered it all.
Jill DeWit: Thank you.
Jack Butala: I’m proud of you.
Jill DeWit: Thank you.
Jack Butala: I would’ve done it with more [anger 00:10:37].
Jill DeWit: There is a time for them, let me give a good example. I’m relocating to a new city, we’re very, very busy, we can afford this, I don’t have the time to look. I can give this agent my laundry list of-
Jack Butala: I don’t think you should buying a house then.
Jill DeWit: My must haves. Hold on a moment. Maybe it’s just a corporate lease. I give them a laundry list of the lease things I want. Let’s just say I need covered parking. Jack don’t squash this for me here. I’m trying to do something positive.
Jack Butala: I still don’t think there’s [inaudible 00:11:11] to be a need for that.
Jill DeWit: There might be a positive time for someone that it really makes sense. Seriously.
Jack Butala: Okay there might be.
Jill DeWit: Yeah. Or they’re going to send their assistant in, but why not send someone in who knows the area and they’re going to narrow down the top three properties.
Jack Butala: Okay.
Jill DeWit: Then you go pick them on one day.
Jack Butala: There’s still the top three properties that are in the MLS. They’re not the three top properties at all.
Jill DeWit: No.
Jack Butala: That’s my point.
Jill DeWit: Nope.
Jack Butala: When real estate agents-
Jill DeWit: They met my laundry list, Jack. We’re going to have an on air argument about this aren’t we?
Jack Butala: Yeah we are.
Jill DeWit: I’m trying to say something nice and you won’t let me.
Jack Butala: All right. Okay. No it’s nice.
Jill DeWit: Okay.
Jack Butala: You win. I’m serious. I’m not joking.
Jill DeWit: Come on. There are really good agents out there that do their work.
Jack Butala: There’s a time.
Jill DeWit: There are. They really do show up in stage. I’ve seen agents that do care and they do show up and they might be there on a Saturday in jeans and a sweatshirt helping make the house look good too. Yeah.
Jack Butala: Okay.
Jill DeWit: There are some of them.
Jack Butala: All right.
Jill DeWit: They deserve a lot of credit. They earn it. A lot of people don’t- I just want people to know they have an option.
Jack Butala: Right.
Jill DeWit: That’s the reality. Mic drop.
Jack Butala: Okay. All right. Well said. What did you say?
Jill DeWit: Mic drop.
Jack Butala: Mic drop. That’s hilarious.
Jill DeWit: That’s it.
Jack Butala: Yeah. The problem is this. The MLS is the problem. That can’t just be the only place you go. The value that a real estate agent used to bring before this all got silly, was that they knew everybody. They knew everybody in town. Somebody would come to them and say, hey socialite, I need to buy a ranch. Oh the Johnson family just got their back 160 acres. They talked to me about selling that in the bar a couple days ago. That’s where the value is.
Jill DeWit: In the bar.
Jack Butala: In the bar.
Jill DeWit: In the bar.
Jack Butala: In the bar.
Jill DeWit: I know. That’s what I’m just saying. They all have their meetings in a bar. Is that where all your meetings are?
Jack Butala: What kind of episode is this?
Jill DeWit: I just …
Jack Butala: You’re fostering resentment. You got mad at me for challenging you a few minutes ago.
Jill DeWit: I’m just kidding. I just thought that was funny that the one reference you came up, not in a restaurant, not in the grocery store, not in a coffee shop, in a bar.
Jack Butala: I’m just thinking back in the Wild West times. It’s just a saloon and that’s it.
Jill DeWit: Then say saloon.
Jack Butala: I’m getting my ass kicked today.
Jill DeWit: [It’s 00:13:26] great.
Jack Butala: Isn’t it funny when she says, then say saloon, but she says it so nice and happy that you don’t even know you’re getting your ass kicked. It’s just with peaches and cream and nice smelling flowers.
Jill DeWit: Silly.
Jack Butala: I’m still getting yelled at.
Jill DeWit: No you’re not. You’re silly. I was being funny.
Jack Butala: If you have a question or you’d want to be on the show reach out to either one of us on LandAcademy.com. I almost said SuccessPlant.com.
Jill DeWit: That’s hilarious. I think this is the time that we say join us in another episode …
Jack Butala: All week this has been happening.
Jill DeWit: … where Jack and Jill discuss how to use information. That’s Jack.
Jack Butala: All week.
Jill DeWit: And inspiration. That’s me. [inaudible 00:14:03] to get just about anything we want.
Jack Butala: We use it every day to buy property for half of what it’s worth and sell it immediately.
Jill DeWit: You are not alone in your real estate ambition.
Jack Butala: I got all flustered all week this week.
Jill DeWit: You have been. What’s going on over there?
Jack Butala: I don’t know. It’s your topics and kind of your show so I just lose my place.
Jill DeWit: Got it. This should be relax time. Maybe on the … Hey maybe for-
Jack Butala: Tomorrow.
Jill DeWit: … tomorrow’s show, Friday, we’ll change it all up. Let’s just make it a whole [garbley 00:14:32]- no in a good way.
Jack Butala: A whole garbley?
Jill DeWit: A whole mishmash of I do the intros and you read the questions. Let’s change it all tomorrow.
Jack Butala: All right. We’ll just reverse it all.
Jill DeWit: That’ll be fun. Let’s see how that goes.
Jack Butala: You are not alone in your real estate ambition.
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