Real Estate News Radio with Rowena Patton

Revolutionize Your Home Selling: Discover the Benefits of Full Market Value Cash Offers

• Rowena Patton

Share episode

Send us a text

Ready to transform your real estate selling experience? Discover the power of full market value cash offers and how they can redefine your approach to selling your home. Join me, Rowena Patton, on the Plain English Real Estate Show as we explore the unique advantages our cash offer programs provide over traditional methods. We'll look into the different ways to list a property, including conventional, certified pre-owned (CPO), and cash CPO listings, while debunking common misconceptions that often cloud the real estate market.

In a compassionate segment, we delve into the Senior Living CPO program, specifically designed to ease the transition for seniors moving into retirement communities. By offering full market value cash offers, we aim to eliminate the stress and uncertainty that comes with selling a family home. Our dedicated team, including senior attorneys and home remodeling experts, ensures that the process is smooth and stress-free, allowing seniors to focus on settling into their new homes with peace of mind.

For those interested in investment opportunities or facing complex personal situations, the Flip CPO program and Divorce CPO solutions offer innovative ways to maximize financial benefits. Whether you're a home flipper, going through a divorce, or managing an estate, our programs provide faster, equitable solutions to enhance your real estate transactions. We also cater to short-term rental owners looking to sell without disrupting their business, ensuring a seamless experience for all parties involved. Tune in to learn how these strategies can simplify your selling process and improve your financial outcomes.

Speaker 1:

This is the Plain English Real Estate Show with your host, rowena Patton, a show that focuses on the real estate market in terms you can easily understand. Call Rowena now. The number is 240-9962 or 1-800-570-9962. Now here's the English girl in the mountains, the agent that I would trust, rowena Patton.

Speaker 2:

Hi everybody. It's Rowena Patton here, your friend in real estate on the Real Estate News Radio Show. And today, happy Valentine's everyone. Even if you're not with somebody and didn't get a great big bunch of roses, somebody's your Valentine. Think about somebody that just puts a smile on your face and say happy Valentine's to them. It will make their day.

Speaker 2:

Today I'm going to do a deep dive through the various cash CPO programs, what all the different niches are, who they're useful for, how you use them, that kind of thing. So what is this cash offer? Well, you've probably heard of cash offers before and for most people it gives them a shiver up the spine because it makes you think of the companies that buy ugly houses, the companies that have investors that go out to senior living communities yes, there really are those and they offer the seniors 50 cents on the dollar, maybe 60 cents on the dollar. I promise you that's not what this is. I would never, ever have got involved in it. In fact, I'm in a top group of agents around the country and many, many of them have cash offer programs. There's nothing wrong with it. It's just a model. It's just something I've never chosen to be part of, and it's actually a great model.

Speaker 2:

You know, you go in as an investor. You buy a house for pennies on the dollar. Oh, we don't have pennies anymore, do we? It's just been cancelled. You buy it for a dollar on the hundred dollars. There you go Five dollars on the hundred dollars and you get a great deal. And you, as an investor, go in, usually remodel it a little bit, sell it for more and that's where you make your profit. Very often these investors are borrowing what's called hard money. They've got hard money investors that charge a really big interest rate. Sometimes they've got their own money. They invest, but very often they're using hard money so they can't have it sitting for very long. So how is our cash offer different? First of all, it's a completely different product. It's a full market value cash offer.

Speaker 2:

I really do encourage you to look at this if you're even thinking about selling your home, because if you're thinking about selling your home, even if you're not thinking about putting it on the market until the spring, that's a whole other show. Please, don't wait. There's more and more coming on right now. That means you have more competition. If you're thinking about waiting, get us out to take a look at it. You can get us out by calling 828-333-4483. And if you're thinking, well, I'm in California. I can't get you out there. Actually you can, because we're in an amazing network it's called Listing Royalty of people who are trained in these programs, that know how to use these programs. And guess what? If you don't want it, that's okay.

Speaker 2:

All of us offer at least three ways to list, and that's a conventional or old-fashioned listing. You know how those go Go or, even better, what we call a CPO listing right. So three choices when you list. Keep hold of this one. Grab a pen here I'll give you a minute. Grab a pen. So this is my Valentine's Day gift to you, because you really want to know this if you're thinking about listing.

Speaker 2:

Three ways to list, three key ways to list. There are lots of ways to list, but these are the three key ways. One is a conventional or old-fashioned listing. I can tell you I'm over a billion dollars in sales. I worked it out this morning, it kind of scared me. I'm over 1.2 billion dollars in sales.

Speaker 2:

This is not my first rodeo. I don't say that to brag. That means I've been blessed. I have the honor of having helped many, many, many families all over the country in their real estate journey and I feel very blessed and very honored for that. So out of all of that, I've learned the way to do it and I can tell you that the vast majority of those were not conventional or old-fashioned listings.

Speaker 2:

Why, excuse me? Because when I got into real estate originally I just thought it was kind of funky the way things were happening. Houses dropped out over a third of the time not just my deals, but deals around the country with agents that I was working with. So a house went under contract over a third of the time. They fell out. That's not good guys. Nobody wants that.

Speaker 2:

Why? Because you've got what's called a stigmatized listing. You want to avoid that at all costs. What that means is people call us and they say what's wrong with it and why did it fall out? They can see you on all these big box websites. They can see it's dropped out and then they're wondering what's wrong with it and why it dropped out. So you want to avoid it at all costs. How do you avoid that? Two key ways. You avoid that. You do what's called a certified pre-owned listing. What does that mean? A certified pre-owned listing? And these were what I was excelling in what I was specializing in for almost 16 years before the cash CPO came along, and now we do both. So certified pre-owned listing. I've been training agents to do this around the country since 2007. What you do is your agent will help you with this. If you're a FISBO, let me just tell you the steps.

Speaker 2:

You have an inspector come look at your home. I know some of you are saying my home is so well maintained, it's really beautiful and there's never going to be any problems with it and yada, yada. I understand, and for most of you I would agree with you. Many of you have got beautifully maintained homes. That's not what it's about Homes. Remember, I've done over a billion dollars in sales here.

Speaker 2:

So what this is about is that when the inspector comes in, they have to earn their money, and not only that. Some of the things they're finding you can't see. It may be on your roof. It may be something on your ceiling that you haven't noticed. Inside a closet it may be flashing around I mean, these are very common ones, right, flashing around chimneys, things like like that. It may be some moisture in the basement that's also a very, very common one some moisture in the crawl space or something like that. It could be a door creaking, you know, or door not quite carefully aligned.

Speaker 2:

You will have 40 or 50 items on that inspection report. I promise you and this is about psychology, it's not about a transaction when a buyer's coming in, often from somewhere else, they're already a little bit nervous. We just had an election that made people excited and nervous. Now we're through that. I understand that people are still nervous about what is happening with the housing market, what is happening to the economy in general. People are nervous.

Speaker 2:

So when they see that inspection report and there's 40 items on it, by the way, that's normal. But they don't know that they may have not bought a house in a very long time. So now you're faced with this inspection report as a buyer, you're already a little bit nervous anyway. You're like, ah, maybe we shouldn't buy this house, honey. And guess what, if honey A was the one that said I want house A and honey B? The partner said I want house B and honey A got the house and now it's got all those inspection items on it. Do you think that might be a lever to say, you know what, maybe we should go back to house B, honey. You know what? I'm the honey do person around the house. So maybe we should go to House B and they pull out. All they've lost at that point, guys, is the due diligence money they put down. If you need to know more about this, give us a call, 828-333-4483. The due diligence money they've put down that's what they're losing at this point, the earnest money. As long as they pull back out in the and remember, things happen differently all around the States.

Speaker 2:

If you're listening to somewhere else, so get with your trusted realtor. I'll get them to you. Just give me a call, 828-333-4483. We will find them for you. Or you can go to cashcpocom cashcpocom If you want to get that cash offer and find your agent yourself. There's a button on there that says find my agent anywhere in the country or Canada. They're all heavily trained in how to do this, including how to get the inspector in.

Speaker 2:

Not all agents can do this, guys. I've been running a coaching program since 2007 showing agents how to do this. I wrote a book about it, which went bestseller overnight for agents because they wanted to know the scripts. The scripts are how do we talk to you, the public, about what we're doing? How do we actually do it? How do we find the right people? What's the process for doing it? So it's not just something anyone can do Otherwise I guess I'd be out of business, because everybody would be doing it and there are some people that just can't take the time to do it. I think that's why some agents don't do it because they can't take the time to do it, because I don't know why you'd list a house any other way. Honestly, our dropout rate drops to 7% from 33%, so why would you do it a different way? I don't know. It doesn't make sense to me.

Speaker 2:

So let's jump into the various programs. We're going to start off with senior living. You'll know if you listen on a regular basis. I've done many shows about senior living. Today we're going to cover senior living. We're going to cover builders. If you're a new home buyer or a builder, we're going to cover flip CPO, that's if you are a flipper, if you're an investor, we just added a new program for you as well.

Speaker 2:

Maybe you're thinking about getting a divorce. I hope not, not on Valentine's Day. We've got the Divorce CPO For those of you who are heirs, and you've got an estate that you may have had for a very long time. I understand it's hard to let go when you inherit a home sometimes, but for those of you who have, we've got an Estate CPO program. Sometimes, but for those of you who have, we've got an estate CPO program. Those of you who are STR short-term rentals or medium-term rentals, which are becoming more and more popular we have an STR CPO program. How about that? We've also got a bank CPO program. That is for banks and REO asset managers. It could be for you. If you're thinking about maybe they're trying to foreclose on you or you're behind on your payments, we can get you out very quickly. Not always, we've got to check that you actually have something that is going to work for this program.

Speaker 2:

However, now with the flip program, I've got a whole line of investors everybody who's trained in this around the country. That's why you need to go to cash CPOcom. If you need an agent, you need someone trained in this. That's very important. If you don't qualify for one of these programs, now we have a program we can use, which is the flip program. We have to put 10% down. It's a really great one.

Speaker 2:

Credit score is not an issue. You have to be able to show proof of funds for the 10%, and then 10% of whatever the remodeling funds are. Our funding partner does the rest, and then you get to flip the home and make the profit, if there is any profit. What that allows us to do is, if you're facing foreclosure or going through a divorce, you don't want to be flipping homes or anything else. We now have a product that we can pretty much solve your every need. Unless you're underwater on your mortgage, we should be able to get you out very fast.

Speaker 2:

And remember, we're not trying to steal your house here. We're not one of those cash offers. We're not a cash offer where we're coming in and trying to take your home for $5 on the $100 because, well, it can't be pennies, can it? That's just kind of sad. Who's sad about pennies? Oh my gosh. Okay, so did I cover all of them there?

Speaker 2:

Bank CPO I think I missed Relo CPO. So Bank CPO, that's a bank scenario. Asset managers and then I mentioned if you're facing foreclosure or you're late on a payment, don't be embarrassed, guys. So many people are going through this. Foreclosures are rising right now. I want you to give me a call. We've got receptionists on the line, 24, seven, doesn't matter if you're listening to this on the line 24-7. Doesn't matter, if you're listening to this after the event, give us a call 828-333-4483, 828-333-4483. And I will help you. I promise there's also ReloCPO, so this helps out corporate relocation clients and companies who are relocation companies. So if you're relocating, that can be very helpful.

Speaker 2:

And last but not least and it was so great last week when live we did the Tenor Tower show and we had the VP I was so grateful for that. I was so honored to do that show First responders and veterans. So this is the T2T CPO program, heroesmlscom if you want to look at more on that, I'm going to go do a deep dive on all of these guys shortly. So that's where first we work with first responders and veterans. There are all kinds of discount programs for them that we use. We also sign up for Tenor Towers and give them a one-year subscription. It's $11 a month, but every little bit helps. On my team, for example, we're heading for a million dollars. We're about $850,000 on my little old team in my little old town given back to first responders. Very proud of that, very honored really to be able to support people who gave the greatest sacrifice and certainly their families did too. So a big thank you to all of you out there.

Speaker 2:

And now for the rest of the show. We're going to take a deep dive at what all of these programs are about. Let's do a deep dive into Senior Living CPO and what that looks like. Dive into Senior Living CPO and what that looks like. So the Senior Living CPO program provides seniors with a full market value cash offer. This ensures a smooth apparently not for my voice, but ensures a smooth and stress-free transition into whatever senior living community they're going into.

Speaker 2:

So one of the biggest challenges seniors face is securing that spot on the waitlist while they're waiting for their home to sell. You know, you can imagine how do they know when to sell their home? Because they don't know when they're going to come off the waitlist. It is a real problem, and what tends to happen is they've been on the waitlist, for we have one in Asheville that's eight years long, believe it or not. They come off that waitlist because the marketing manager calls them from the senior living community. They've been waiting for a year, two years, three years, and they're so excited because like, hey, jamie, you're off the wait list. Come on, let's go, we've got a place for you. Finally, we've got a place for you, which is fantastic, right. But the problem is that over almost 90% of seniors almost 90% have to sell the house to be able to afford to live.

Speaker 2:

In the senior living community there are all kinds of programs, reverse mortgages, all kinds of things you can do, but none of them are as effective as actually getting the home sold. So the issue is how do the seniors know when to list their home? That's where we come in at the Senior Living CPO, with the Senior Living CPO program. That's where the Senior Living CPO experts can help. So with the Senior Living CPO program, that's where the Senior Living CPO experts can help. So with the Senior Living CPO, seniors can press that button just 14 days before moving. So it takes 14 days to get the majority of their equity, and that allows them to move with confidence.

Speaker 2:

They move in, we remodel and refresh the home. They're not paying anything for it. At this point, the money is up-fronted. And why are we doing that? To maximize the value. You know, whomever you are you don't have to be a senior that if we go in and refresh the home, maybe it's just a fresh coat of paint, maybe it's a deep clean. It could be as little as a deep clean.

Speaker 2:

Usually there's going to be more things than that, because that's where certified pre-owned comes from, because we're going to do the inspection and the appraisal and things will most likely come up in there. On average, you've got 50 things on an inspection report. That's why over a third of contracts fall out. Guys. People don't tell you that, I know, but that's why over a third fall out. So you know, this takes that off the equation. They still fall out, but it's 7% of the time. So that's a big deal. When you have a contract that falls out, that is known as a stigmatized listing. That's not good. So once the home sells, they receive a second check with two-thirds of the sellers making more than with a traditional listing sellers making more than with a traditional listing.

Speaker 2:

However, unlike a conventional sale, imagine the average age of going into a senior living community, and of course this varies. I've known people go in in their 50s because they're dealing with dementia, early onset Alzheimer's or something like that, but the average age of going into a community is 84. Imagine being 84 and showing your home, having all those showings, the sign outside, the agents coming in and out the text to say can you show your home tomorrow? So our expert team and our expert team is led by senior living CPO experts these are the agents who can come into your house now, even if you're on a wait list, right? So maybe you're waiting out that year, that's fine and take a look at your home with a view to okay, how does this need to be set up? Do we need to do anything? Not while you're there.

Speaker 2:

We don't care whether it's tidy, untidy, where we'll love your, your little dog, sophie, that's running around barking her head off. Um, that's my little dog, by the way. We'll love your little dog. They'll smell our little dog. Everything will be fine. You can have dishes in the sink, we don't care, we're agents. Seriously, we see. By all of that, that goes for all of you who are thinking of listing in the spring as well. Stop worrying about getting your home perfect. We're agents, we don't care. We might say, oh well, you know you should clean up the dog beds or something, or do this, do that, but but we're not going to, you know, judge you or anything. Trust me, any of us who are successful are so busy that our houses are a complete mess. Any agent will tell you that.

Speaker 2:

So our expert team, led by the senior living CPO experts, along with senior attorneys, we build a team guys. We call them the senior life experts. So those are senior life partners, so those are senior attorneys. They're clutter buster companies, they're home clearance specialists and all those details get handled. We take a lot of the stress out of it. So, for those of you who've been thinking about this, I want you to think we're not going to go, oh, come on, you need to sell it now or anything else. We're not those people. That's why I've been very careful in building this network that we get the right kind of agents that's very important that serve with a heart, that are serving from the right place. It's very, very important. So let's move on now to a different topic the builder CPO. So the reason I wanted to do them all together today is, you will see, a common theme on how all of these work. The builder CPO is very cool, so what I was looking to do when we were coming up with these different themes in the first place is figure out how could we use this wonderful product in different ways. So it's not just, you know, some skeezy cash offer, like we talked about before, it's taking. Well, they're not skeezy, it's a business model. I'm sorry you guys who were running the cash offer model, there's nothing wrong with that, it is a business model. This is a full market value offer, so, okay. So the Builder CPO what is that about? So the Builder CPO program provides homeowners with a full market value cash offer Shocker, solving one of the biggest challenges for home builders and for buyers of new homes.

Speaker 2:

Here's the problem Hitting the move-in deadline. I can see you rolling your eyes out there if you've been through building a new homes. Here's the problem Hitting the move-in deadline. I can see you rolling your eyes out there. If you've been through building a new home, or if you're a builder, you're rolling your eyes at me because you know how difficult that can be to hit that deadline. Material delays, labour shortages, weather, maybe the ports have closed down, maybe the tariffs have taken effect, who knows? It can make it really difficult for you as a builder to provide that exact closing date. In fact, I've never known a builder who can provide an exact closing date. It's just not possible because there are there are too many things that might happen. Okay, so if you're building a new house are too many things that might happen. Okay, so if you're building a new house and you're selling your previous house not everybody's doing that. Some people are building a new house as a second home.

Speaker 2:

But if that's what you're doing, and you're building a new home and you need to get your previous home sold, what on earth do you do? When do you list it? You know you're probably busy getting this bit done and that bit done and this bit cleaned out and you're not sure what to remodel. If you need to remodel anything to get it sold, or your friends come in and said, oh, you really need to do that kitchen and now you've got half your bathroom ripped up. Guys, please, just stop already. Please, please, please, get an expert agent in. I can put you with the right agent anywhere in the country. Of course you'll get me. If you're local, you might get Clarissa, who's my partner, out there with me. You'll get two of us for the price of one. You will get an expert agent that knows what they're doing.

Speaker 2:

Stop remodeling, because the market is flattening. This is to everybody who's selling. The market is flattening, if not reducing, in a lot of zip codes and of course you know, depending where you're at, I can give you that information. I can actually get that information for you anywhere in the market right now. So 828-333-4483, 828-333-4483 to find your expert agent anywhere. Maybe you like to heck with it. I don't want to talk to you or any darn agents anywhere in the country, I just want my cash offer. Okay, that's fine, go to cashcpocom. Cash C-P-O. That stands for certified pre-owned Cashcpocom. You will end up through this process with a certified pre-owned home and you won't be doing the improvements, you won't be paying for them up front. It will come out of the profits when we sell it and you'll get the majority of your money up front. So if you don't want that sign outside, you don't want the lockbox on the door, you don't want to deal with pescadians, you can go to cashcpocom. Cashcpocom C-P-O. Charlie Peter Orange I'm sure that's not the right terminology for the letters, but oh, wow, you know what I mean.

Speaker 2:

So back to the builders. Homeowners can press the button. You know what I mean. So back to the builders. Homeowners can press the button. You know what's going to happen. You're all going to be able to just talk about this soon, because some of this is very similar, of course. So homeowners can press the button 14 days before the co now.

Speaker 2:

So the builder at some point is um is going to be working towards their certificate of occupancy. You have to have that before you move into a new home. It's called the CO certificate of occupancy. Most builders will tell you with a 90% certainty that they're going to get their CO within 14 days. Guess what that means? When you're building a new home, you can press that button 14 days before the move in and completely align it with getting that certificate of occupancy, which means it takes all the stress off, guys, and we can move you into your new home, move all your furniture in.

Speaker 2:

You don't have to move twice. You don't have to rent somewhere in between. You don't have to live in your you know parents' cottage or your kid's bedroom or basement or something you can move right in, and we will then get into your house that you're selling and make the most money for you. We'll upfront the money to do what we need to do. We're agents, we know what we're doing. We'll talk to you and you've probably got a honey-do list. You probably know already what needs doing on there. You've probably got a honey-do list. You probably know already what needs doing on there. So that is so important. Quit rebuttaling, quit worrying, quit stressing about when you're building your new home, about you know how you move twice and get in there. That is not fun at all.

Speaker 2:

So let's talk about something that is very new. It's new actually it's called the flip cpo. You can get, you can go to cpoexpertscom forward slash programs to see all of these programs and get more information. You can go to any one of the programs. So you can go to flip cpocom, the one we're talking about right now, if you want. At top you'll see programs that will bring all of these programs up. So if, for some reason, you don't qualify for any of these other programs, I can find an agent for you that either will buy it themselves or will have one of their investors buy it. And guess what? It's still a full market value cash offer.

Speaker 2:

So the Flip CPO program provides real estate investors with a full market value cash offer. Right, so we can come to you with, maybe for some reason, maybe, your mortgage, remember. You get most of your equity up front and then we sell the house and then you get another check. That first equity check has got to pay your mortgage off. So what happens if your house is worth 500 and your mortgage is 499,000? Well, you know, if we're giving you 350 or 400,000 up front, that only leaves you with 100, which won't pay off the mortgage. So if, for some reason, you're underwater on your mortgage or you don't have any equity in your house, you might not qualify. But we do have this flip CPO. What that does is it just buys it.

Speaker 2:

Basically, maybe you want to flip homes, maybe you are an investor. You don't have to be an agent. You could just be an investor and use our flip CPO, what it does. You've got to have 10%. This credit score is not an issue. They want to see proof of funds, it does. You've got to have 10 credit score's not an issue, they want to see proof of funds. So you've got to have proof of funds for 10 of the home's purchase price. Let's say it's 400 000, so you've got to have 10 of the 400 000. You've got to have 40 000 to put down. Does that make sense? So, um, 10 000 for every 100 000.

Speaker 2:

So maybe you're buying a manufactured home because you want the land and you want to flip the land. Maybe it's 20 acres and, yes, this does exist all the time locally. So you've got an old manufactured home that's been there for donkey's years. It's got a great septic. It might be a double wide. So it's got a three bedroom septic. It's got a well on it. It's got a well on it. It's got a driveway. It's got incredible views. But the trailer's 30 years old and of very little value. So it could be that you know it's on 10 acres, say, with great views, and we can buy it for 200,000.

Speaker 2:

So if you've got that 20 to put down and you show proof of funds for that, and if you're confused by this, what you'll find is actually, you know, our headquarters is located in Asheville, north Carolina, and we say there's money in them, there hills, because you know people judge a book by the cover sometimes and it doesn't matter if you've got credit issues or not credit issues. You can have millions of dollars and have credit issues. You can have 200 grand in the bank and not have the greatest credit score to get a regular loan, you know, since the banks have tightened up. So what this provides is that you have to have proof of funds. Now why does the funding partner do that Is it kind of skeezy, you know, and getting people into trouble. It's really not, because the whole idea is that you go in as the investor, they will up front you the money this is flipcpocom. They will up front you the money to purchase the home. So we go let's say it's a trailer on 10 acres, right, and it's an old trailer and you want to. But maybe you're a home builder, you want to build a home on there and you're going to sell that home, but you don't want to take all the risk and you want to borrow the money. This is a program where you borrow that money. You put 10 down, we're going to buy it for 300, say, we put 30 down, and then you've got um and we need um. We're going to remodel it because the trailer's not that bad, so we need five thousand dollars for that. You need 10 to that. So you need another 500. So you need 10 of the remodel, 10 of the home purchase price and proof of funds to show that. And then what happens is you get the money, buy the home, remodel the home. Our funding partner will upfront the money for the remodel and you know, then we're ensuring that they're securing deals without delays is the whole game here.

Speaker 2:

Once the home is remodeled and sold. This is not to hold a property and to rent it out. This is for flipping a property. That's why it's called flip CPO. Once it's remodeled and sold, the investor gets the profit on the upside. So agents like this as well.

Speaker 2:

A lot of real estate agents are also. I don't know about a lot, but some real estate agents are also investors. So once the home is remodeled and sold, they get the profit on the upside. And if you're an agent investor, you also get the listing, because then you're going to get the listing and sell it. So you've got the control of doing that, which is very nice, obviously. So I just want to remind you that, however you want to sell, it is fine.

Speaker 2:

Our network of agents is amazing 828-333-4483. Anywhere in the country, we've got an amazing network for you. Or you can go to cashcpocom and click on find agent. You'll find the agent right there. If you don't want to talk to a pesky realtor I'm not pesky, I won't pester you, I promise. However, if you just want to go on there and find your agent, you can do that too. And listen, we're going to give you a choice. We want to do what's right for you.

Speaker 2:

So in all the families I've helped since I've been in real estate, I've got over what I was totaling up. I've never done it before because I'm just not, I don't know, money driven or something. It's probably my problem Might be my Achilles heel, one would say. So I'm at 1.3 billion worth in volume of real estate. That means that's a lot of families. There's over 3,500 families that I've helped. If I were doing it in the wrong way or giving them information about I don't know, something that was just going to help me get a commission check, I wouldn't still be doing this. So I think you can have some trust in what I'm saying here. So all of the agents around the country can do it any way they want to, and our three core ways of doing it, just to reiterate, are a conventional listing Maybe you've just tuned in, maybe you're on the way to the grocery store in your car is we can do a conventional listing.

Speaker 2:

Nowhere is it all. They drop out. It's not us guys across the country. That's why, when I got into real estate, I didn't understand this. I don't understand why it's done this way. They drop out a third of the time. That's a lot.

Speaker 2:

Another great option is a certified pre-owned listing. That's where you, as the seller, pay for the inspection. You have an appraisal. Sometimes, as we're now slipping in the market again, an appraisal would be a good idea. They measure it for you. Get all the right measurements. It gives you the best idea of value instead of Bobby down the street telling you what. Get all the right measurements. It gives you the best idea of value instead of Bobby down the street telling you what he thinks it's worth. Please stop listening to that stuff. Please stop going on and doing auto valuations and going well, zillow says it's this. No, let's get you really good pricing. This is the biggest, probably the biggest asset you have not for all of you, but for most people, this is your biggest asset. Let's price it right. Pricing it right when you're selling it also is extremely important, because you don't want it sitting there past 30 days, which is what's happening to a lot of houses now.

Speaker 2:

The market is different, guys, and it's not just oh, you know, trump's in now, so everything's going to be fine. It doesn't work like that. The you know economic cycle is the economic cycle. Seven to 11 years. Does it have an effect. Yes, however, you know prices are going to be flat or declining. You just have to trust me on that. Well, it might go up a little bit, flat by flat. I mean we might add 2%, we might lose 5%, like we're bumping along. So if I were you, I would not take that risk.

Speaker 2:

So now we've got two options. We've got a traditional listing, old fashioned listing. They drop out 30% of the time. We've got a certified pre-owned listing. That's where we do a little bit of work and spend a little bit of money up front getting the inspection, getting the appraisal. You don't have to get the appraisal, but I strongly recommend it. I would say you have to get the inspection. It's a no brainer. 500 bucks yes, that's a lot of money. I get it. But those are the issues. The appraisal and the inspection are the two things that cause it to drop out a third of the time. Let's take that off the table. Let's reduce that to 7%, which is what happens with a certified pre-owned listing. That's, I promise you, what you want. The third one is now a hybrid of certified pre-owned, which is a cash CPO, cash, certified pre-owned. That's where you get cash out first.

Speaker 2:

You can move out in 14 days, 90 days, your choice. You move out later than that if you want to. You want to press that button. That was my sound effects there. You want to press that button when you're ready to close in 14 days. That's the idea. But we can line all of that up for you. We'll go through all of that with you. So you take your money up to 70%, you move right, you're out of the house. You've gone through all the stuff.

Speaker 2:

You've not got people traipsing around your house, looking at your house, going, hey, there's too many photos. I don't know it. Just it doesn't look quite right. I can smell their dog. I can smell their cats. They've got a cat. I'm allergic to cats, I'm allergic to dogs. Looks like kids were in this house and you can tell. I've shown a lot of people around houses, right, I've heard it all. Well, there's crayon on the walls, the walls are green. Yes, really, I heard that I don't want this house because the walls are green. I've heard that and roll your eyes because, yes, it's just paint. But that's how people think. They want to walk in these days to an HGTV home. That's as done as possible, unless they're an investor, of course. Then they want to go into a home where they can see that a lot of value can be added. So with a cash CPO you're moving on.

Speaker 2:

We've got you out, all your furniture's out, you've gone through the stuff, you've done the painful bit of moving and now we can get to work on sprucing up your house, can get to work on sprucing up your house. So that might be a deep clean. It might be painting the inside. It might be putting a new roof on. It might be putting another line on the septic. It might be redoing the septic. Yes, we've done all of these. It might be a complete kitchen redo. We've just done one of those. It might be painting the kitchen cabinets. It might be a week of work. It might be a month of work. Occasionally it will be longer than that, not usually.

Speaker 2:

We do the work because you won't even recognise your house. Quite frankly, you'll probably want to buy your house back, but I'm finished with it. And then we list it and sell it. And yes, there's a fee from the people we borrowed the money from. Of course there is.

Speaker 2:

But just think about why house flipping is so popular. Think about why all these HGTV programs are so popular. It's because people love to flip houses. It's not unusual at all. Right, people want to go in and go. Oh, I like the light fixture. Oh, I like the hardware on the cabinets in the kitchen. Oh, I love the new courts. It all feels fresh and new, it doesn't smell, there's no dogs running around and, what's more, is the home seller. You don't have all the stress of that, you can just watch from afar. With all of this happening, two thirds of sellers make more. With all of this happening, two thirds of sellers make more. On average, people make between 90 and 120% of what you would with a conventional sale. That's two thirds make more. So most of it's going to come out to wash.

Speaker 2:

Many people that I talked to would even choose if I said okay, your house is 500,000. So let's put it in Russian roulette here so when it's sold, you're you know, because a couple of things that need doing you're probably going to get 475. And then, when it's in the contract and right now you're going, no, I wouldn't take that, I'm just going to hold out for the 500. Okay, remember I'm the girl that 1.25 billion, that's billion, not million. I, that's billion, not million. I don't say that to brag, I tell you because I've got probably more experience than you. Chances are I've got more experience than probably I'm in the top three in Asheville with experience of selling that many houses. So with that established, I can tell you that it's really worth spending a little bit of time getting it done. And I'm not just telling you prices like is that 500 and you're going to get 475, and just making stuff up Like I've seen so many. I know that's probably where it's going to come down.

Speaker 2:

And then you're under contract and you're you know you've got the moving trucks ready. You're going to Florida, you're going to Arizona, you're going down the street, wherever you're going Going into senior living, getting divorced, having a new baby, needing a bigger home, whatever is going on, getting married and combining two homes. And then you're under contract and a week before it closes because, by the way, that's when it happens it is not fun A week or two before it closes, the buyer's agent calls and says, hey, we've done the inspection and we've found x, y and z, and then you know we got some estimates on it. If you're lucky, they probably won't get estimates on it. Um, and you know my buyer's done some more investigations and they're really worried about the radon, or they're really concerned about the crack in the wall outside that it might collapse or whatever it is. We want another $25,000 off.

Speaker 2:

I'm not kidding guys, this happens all the time, all the time. So you've got to go through that hassle too. So on a 500, you might end up at 460 475, right? So when I'm quoting you, 90 to 120% with a cash offer, now it doesn't sound so terrible, does it? So if I said to you okay, you're at 500,000 and on average you're going to get between 90 and 120%, I don't know which route would you choose.

Speaker 2:

I know which one I would choose because there's no showings, there's no signs. There's no signs. There's nobody coming into your house, there's no texts up morning, noon and night. Hey, can we show your house at 10 am? You know, come back with Y for yes or N for no. All that goes away. It's out of your hair.

Speaker 2:

What you have to concentrate on is where are you going next, that thing that drove you to sell your house in the first place. Quite frankly, if you can't think that way, you should probably think twice about selling, because you may not really want to sell. You may be just dipping your toe in and not really be serious. So I'd think about that really really carefully if that's not where you're at with it. So let's go through a few more of these programs. Can you believe that we've only got that time left? I just don't know where it goes, guys. It's amazing. We've got about 10 minutes left. I just don't understand. It's crazy. So the flip is for investors and agent investors. And then we've got the Divorce CPO DivorceCPOcom if you're divorcing. So the Divorce CPO program provides homeowners going through a divorce with a full market value cash offer. So this is more fair, it's faster and it takes a lot of the stress out of it.

Speaker 2:

Divorcing couples often face delays, disagreements, financial strain when they're looking to sell it the traditional way. So this simplifies the process. The person that's still in the home can have 90 days, 60 days, 30 days, 14 days if you want, if they're ready to get out and move on 14 days, you can get the majority of the equity. Now, especially with divorcing couples' homes, those homes can be a bit unloved because you know a divorce doesn't come overnight generally. Sometimes it does. You know a divorce doesn't come overnight generally. Sometimes it does. You know if somebody's cheated or something. But generally divorce doesn't come overnight. So things have been leading up to that and you haven't been remodeling the kitchen, maybe you haven't. That's cause of divorce, that's all of the show. Maybe that led up to the divorce, who knows? Actually those financial difficulties really count.

Speaker 2:

But generally the houses that we see in a divorce sometimes how do I say this? Can be a little bit battered. You know, there's often a mom left with the kids in the house, or mom and the kids have moved out and everybody's just not. Obviously it's a difficult situation to be in those houses. We can go in and freshen up and put a bit of life and a bit of love back in them. Let's say it as it is and then resell them and get more money for the parties and then it's split up. You know, according to the attorney, we work with the divorce attorneys on those obviously, so it works really well for divorce. Then we have estate CPO. So the estate CPO program provides heirs and estate executors with a full market value cash offer Shaka, you're hearing that one over and over again. So again, this is faster, it's more fair and it takes a lot of the stress out of it.

Speaker 2:

You've usually got a number of siblings. It might be during probate or in inheritance proceedings, depending on how you've set up your trust. If you haven't set up your trust, please do that, especially if you're older and you've got people to leave things to. If it's a trust, it does. You know, in most cases. I shouldn't be advising on this because I don't have this legal background, but it takes a lot of that out of it. Talk to the people who would set that up for you. There might be multiple heirs. You might be squabbling. You might be squabbling over which agent does what and who's going to be the real estate agent and all of that stuff. That takes all of this out of it. You get the majority of the equity within 14 days, so it allows the heirs to move forward with the majority of the money without those delays or disputes.

Speaker 2:

Right, and then we sell. We go in almost always in that case because you're generally dealing with somebody that's suddenly passed or somebody that's older. So generally we can add quite a bit of value to those homes, which means that the heirs are going to make more money because we can go in. Generally, we can go in and freshen it up, we can do whatever that needs to be done. You know, it might just be a simple thing like painting the cabinets and putting some hardware on and maybe putting countertops on, maybe just spending $10,000. But we can get $50,000 more because nobody wants to do anything these days. It's been like that for a long time, guys, honestly.

Speaker 2:

So you know, just think about that when you're selling and obviously you don't want people going into a house where somebody's passed or you've got all your heirlooms in there, or the kids are coming back from wherever they're coming I always say San Francisco for some reason, but wherever they're coming from Austin, texas, or down the street or Raleigh, picking through all the things, it gives a house an energy. You don't want that. Let's get it all out. Let's put it in storage. If we need to Remember, we have that team to help you. We have the people that auction the furniture off. If you want, we will help you handle all of that. We've got people very well trained that put the team together. So the expert team led by the estate CPO experts, along with the probate attorneys, the contractors, the real estate professionals, they handle all the details and it gets an awful lot less stressful and a lot more seamless for the heirs involved.

Speaker 2:

So let's move on to short-term rental owners. So this is STR CPO. Again, rowena Patton, here on the Real Estate News Radio, you can give us a call 828-333-4483, 828-333-4483. And we will help you find an agent or an expert team anywhere in the country. You can also go to if you want to see all of these programs. Cpo for Certified Pre-Owned cpoexpertscom forward slash programs will bring them all up in one place for you. So this is strcpocom short-term rental CPO. So there are short-term rental owners out there that might own six and the number six is the least performer and they want to get it sold.

Speaker 2:

However, here's the deal when you have a short-term rental, the last thing you want is a sign outside. Why? Because it hurts your sales. Right, that makes sense. The real story in STRs is that you make most of your money in year two and onwards because people come back. You get the repeat visitors. The last thing you want and and it's a business, think of it as a business you know that's uh, you're looking at how much money does the business make, how many? How much uh income do you make from the rentals each year? So year two, that's often quite a bit more. The last thing you want is a sign outside where your repeat visitors, who love coming back to your short-term rental, stop coming because you've got a sign outside. What are you selling it? No, you can't sell it.

Speaker 2:

So we go in, we make the offer it sells, we continue all of the rentals as much as we can, unless it needs a full remodel and the short-term rental owner gets to make a bid on a different short-term rental in their portfolio. Maybe they've only got one, maybe they just don't want it anymore. Same thing, but at least we keep all of the bookings going while that is going on. Does that make sense? So let's show in our last gosh six minutes here, let's show how well it works for banks and REO asset managers. So the bank CPO program provides banks and financial institutions with a full market value cash offer. So most often so.

Speaker 2:

Banks believe in foreclosing on homes all of the time. That never stops in high times and low times and it's starting to happen more again. So these are distress foreclosed or REO bank owned properties and managing them can be very time consuming. If you've ever gone to purchase a bank owned property, you'll find it looks terrible. Often the windows are smashed and people get pretty ticked off when the home is foreclosed. I mean, understandably, right. So we go in, we buy. You know the drill. The bank will get up to 70% right away. So they've got this big portfolio. We'll give them 70% right away. Up to 70%, we go in, we maximize the value of the house. In this case we can probably add 50 to 100% I'm not kidding at least 50% on the home, because when they're distressed they sell for a lot less money and they take a long time to sell, especially in a declining market. So banks love this program.

Speaker 2:

Let's talk about ReloCPO. Relocpocom. This is for relocating homeowners. We can do the full market value cash offer. So if you're moving to Asheville from Austin, texas, we can give you that full market value cash offer within 14 days you can take the majority of your money, move to Asheville, get.

Speaker 2:

You know you're not doing double moves, you're not doing temporary housing, looking for a house. You can go, you can hold onto the house if you want. You know we don't have to sell it right away so that you can still be in it while you're still looking. So you're not homeless, because that would be terrible. You can go and stay wherever you're going and take a look around and come back to your house if you want. That's fine, but you can make an offer on your new home because you've unlocked you know, the majority of your equity already, so you may still, depending on how much you've made. Obviously, you may be able to buy cash outright, or you may be getting a smaller mortgage, or you may be getting a mortgage and using the money that you got out to put down again, all depending how much you got out. So just makes it a lot easier, a lot, lot lot easier.

Speaker 2:

So once I finish up today. I was so honored on last week's show and you can find this at realestatenewsradiocom. You're listening to the Real Estate News Radio show, realestatenewsradiocom. You can send a link to listen to anyone in the country, your friends, if there's one of the shows you think they should listen to. This airs live. It goes out all around the nation. You can listen in Mars if you want to. It's syndicated. However, if you want to listen to the podcast, we take the show once it airs live. Randy, our amazing producer thank you, randy, and happy Valentine's Day, you're my Valentine today Uploads it onto our podcast and you can find that at realestatenewsradiocom.

Speaker 2:

Realestatenewsradiocom. So you just click on podcasting. You see all this one. If you're listening to it live, it won't be up for a couple of hours probably. So you know, give us a minute if you can't find it. But if you want to listen to the Tunnel to Tower Wars one last week where the VP came on, he was so amazing, I so wanted to do it. In fact, one of I won't call her out because that wouldn't be fair, but one of my colleagues today in the network sent me a message, from across the country actually, and she said oh, I forgot to tell you. I listened to the podcast of the Tunnel to Tower show last week and I was bawling my eyes out. It was so moving and I signed up today at t2torg so you may want to go and listen to that one. Just saying you can find it at realestatenewsradiocom. Realestatenewsradiocom Just click, click on the blog posts. In fact, you'll be able to see or once you click on the blog posts there, you'll be able to see all of the shows that we've done for years, all kinds of different topics, which are very helpful if you do anything in real estate. So T2T, the Tenorota Towers, cpo, we call that Heroes, mls, heroesmlscom. That's where you can find information.

Speaker 2:

We will give you all kinds of goodies, basically if you are a first responder or a veteran. Why? Because we like working with first responders and veterans. This goes on all over the country, remember? You can find your agent, cashcpocom. If you don't want to talk to a pesky agent, that's okay too. You don't have to. You can just go to cashcpocom and get your cash offer right there. If you want more information, guys, no problem at all. 828-333-4483. 828-333-4483. Make sure you give us your address wherever you are in the country or you can just go and get your offer yourself at CashCPOcom.

Speaker 2:

If you don't want to deal with us pesky agents at cashcpocom, if you don't want to deal with us pesky agents. So if you have an agent, you could ask them to get in touch with me to be able to do some of this. We actually make a contribution for you. We gift you, if you're in those categories, an $11 a month subscription to Ternota Towers. So over time I told you I'm at 1.2 billion I've given back nearly 900,000 at this point. So it all adds up and it's a great thing to do.

Speaker 2:

T2torg. Thank you for listening. Guys, as ever, it's always a pleasure to spend my Saturday morning with you. Thank you so much. I love you all and happy Valentine's. You're my Valentine's this week 828-333-4483. See you on the radio next week.

Speaker 2:

You can find this recording. It's live right now, but you can find this recording at realestatenewsradiocom. That's realestatenewsradiocom, and you can also find the links to listen live so you can share them with your friends. A bit late now because we're at the end of the show, but you can share it in the future to listen absolutely anywhere, whether you're listening on your tablet or your cell phone or in your car where else could you be listening? I don't know, somewhere through your smart TV or something like that. Happy selling out there, guys. Stay warm. It's warming up now, I know, and here we are. We're only a month or so away from the beginning of spring. Who knew Time goes so quickly? Oh, my gosh, great to be with you. See you on the radio next week. Don't forget, there's no such thing as a silly question, apart from the ones that are not asked. 828-333-4483. See you on the radio next week.

Speaker 1:

This has been the Plain English Real Estate Show with Rowena Patton. Visit Rowena and post your questions at RadioAshevillecom or call her at 828-210-1648.

People on this episode

Head Shot

Rowena Patton, NC, FL, DC, CA

Host