Stop Selling Homes Like It's 1965

More on CPO homes here

Selling a home feels totally different when the market stops climbing and buyers start pushing back. We’re seeing more caution, more negotiation, and more deals that wobble after they go under contract and that is exactly why we recorded this conversation with Deanna, Kelly, and Marcelino.

We walk through four practical ways to sell a house and why most homeowners only hear about one of them. You’ll hear us unpack the risks of the traditional listing process, how failed contracts can create a “what’s wrong with that house?” stigma, and why we’re so adamant about never skipping a home inspection. Then we dig into our Certified Pre-Owned (CPO) approach: inspecting before you list, deciding what to fix (or disclose), and using transparency to build trust and reduce renegotiation. We even compare it to why people willingly pay more for certified pre-owned cars, so why not apply the same logic to a much bigger asset?

We also get specific about money and timing: why a real net sheet beats a one-click online home value estimate, how a shifting real estate market changes your true proceeds, and how a Cash CPO option can provide money up front while still letting you participate in the upside when the home sells. The most powerful stories come from real life transitions, including divorce, inheritance, relocating, rentals, and senior living moves where waitlists and monthly assisted living costs can force rushed decisions and invite lowball investor offers.

If you’re thinking about selling, compare the pathways before you commit to one plan. Subscribe for more real estate strategy, share this with a friend who’s moving, and leave a review with the biggest question you still have about selling in today’s market.

Transcript

Welcome From Two Mountain Markets

SPEAKER_00 0:17

Welcome to the Real Estate News Radio Show. You can hear all of our episodes at realest newsradio.com. We have a great one for you today. We've got the mountains over there and the mountains over here. Over there is in Utah. Let me introduce Deanna, Kelly, and Marcelino. Deanna, hi.

SPEAKER_01 0:39

Hi, nice to see everyone today. Loving, loving the weather out here in Utah right now. Beautiful mountains all the way around.

SPEAKER_00 0:46

Well, interestingly, we've got similar weather, which is very odd, right? We always talk about that, how strange that is. What's the temperature there today? I have to look at mine. Oh. It's probably, I don't know, 60 60s? 75. Oh, it wins.

SPEAKER_03 1:04

Oh, you win.

SPEAKER_00 1:06

Kelly, you want to introduce yourself and Marcelino?

SPEAKER_03 1:11

Hi there. I'm Kelly around the Salt Lake City area of Utah.

SPEAKER_04 1:16

I'm Marcelino. I'm right here in Utah County, just ready to get on and start enjoying the wonderful weather like we've been talking about in the mountains.

SPEAKER_00 1:26

So you're further down, Marcelino. So what's the weather like there today? Because you know, in the mountains it changes a lot. I'm in Asheville, North Carolina. It changes. We say in the mountains, you don't like the weather, wait 10 minutes and it will change.

SPEAKER_04 1:39

That's that's uh all of Utah actually there, bro. Anywhere in Utah where you can be uh you can be in your shorts and then shoveling snow in about 10 minutes, it seems like, depending on what mother nature wants here.

SPEAKER_00 1:51

Yeah, really. And that means that all the little green leaves are coming out right now, and the frost comes along sometimes and nips them out, and then everything dies and we're sad.

SPEAKER_04 2:00

Yeah, everybody has plastic all over their yard, their gardens right now.

Four Ways To Sell Smarter

SPEAKER_00 2:04

Oh my gosh. Yeah, I can't bear going through that. So today we're talking about the full market cash offer and also about four ways to sell a home. Because what we've realized is on the appointments that we go out and do all around the country, not just in Utah and North Carolina, is that sellers often don't know that they've got more than one choice. So um I'm just gonna say it that the choice of a regular listing, we actually call that grandma's listing because it's the way it's always been done. It's been done that way since the 50s and 60s, back in the days when real estate agents had big fat books with all the MLS sheets in them. Um, and the issue, what's the issue with grandma's listing? And by the way, if you're a grandma, actually Deanna, you're a grandma, aren't you?

SPEAKER_02 2:53

I am. I was gonna say, can we add a disclaimer that we love our grandmas? Yes, yes.

SPEAKER_00 3:00

You're a grandpa and you're a grandpa. Are you a grandpa, Kelly? Not that you know of.

SPEAKER_03 3:06

No, I'm not yet. And gosh dang it, I should be. Wannabe.

SPEAKER_00 3:13

Wannabe. We'll talk to those pesky kids about that, and let's get you some grandbabies popping out. So yeah, we don't have anything about against grandparents at all, but we do call it grandma's listing because it's it's the way it's always been done. So what's the issue with that? You know, just because we've always done it one way uh doesn't mean to say that it's bad, right? So um the issue is that a third of the time they drop out, not many agents will tell you that. Uh so since 2006, we invented certified pre-owned, the certified pre-owned listing, which is actually hand in hand with the cash offer. If you choose to take the cash out, you don't need to. So we're gonna go through the the four different options and why that matters. So, do we all think that sellers are a bit more cautious than they have been in the last few years?

SPEAKER_02 4:03

Oh, of course. Understandably so. And if you're listening to cautious or informed.

SPEAKER_03 4:12

They're far more informed with the internet and all the capabilities they have to look up their own properties and find their own values or see where they're you know, if they're moving out of state, find that it the internet made everything far more informed people far more informed.

When Prices Decline Buyers Push Back

SPEAKER_00 4:27

Yeah, all that data is accessible. So you for those of you watching on YouTube, if you're if you're listening on the podcast, uh you can go to realastate newsradio.com and click on YouTube if you want to see the pictures. This map behind me right here, the blue areas are those declining in value. The red areas are inclining in value, in other words, going up a little bit. Most places have um crested or are declining in value. So that's important to know, obviously. Why is that important? Because somebody, let's see if I can point to Utah. Somebody in Utah over here that's selling their house is probably selling their house at least half of the time. Same as in, oh, this is fun, North Carolina over here. Sorry if you're listening on the podcast, I'm pointing to the map and the declining figures behind me. Um, if you're if you're selling your house in one of these areas, often you your buyers are coming from somewhere else. So what's happening somewhere else? So, for example, in my area, if I could scoot over far enough, there's Florida down here, it's on the other side. And I get to it. There we go. Everything's backwards. So there's Florida down here, which has taken a big hit. So obviously, if you're a Floridian selling your house at$800,000 and you only get$750,000, guess what happens when that person comes to buy in our market in North Carolina or Utah? Either one, it really doesn't matter, or anywhere else for that matter. Obviously, they're going to try and beat us up on prices, and that's what keeps the drag on prices. Obviously, most people who are selling a house are buying a house, not necessarily. It could be senior living or something like that. Um, and obviously, with the shift, most of the country, as this map here shows you, is in a declining market. Or the ones further up, it's primarily the Northeast, and then North Dakota and Wyoming stick out there. I'm sure we'll get some experts on in those states to tell us about it, that are still, you know, raising in value. Most of the country isn't. So of course the sellers are more, more, um, obviously more aware, Kelly. You nailed it there, but also more concerned about what's happened to their prices. So what was happening in in your market, Marcelino, two or three years ago when we were at the peak? Were you getting multiple offers or what was going on at that point?

SPEAKER_04 6:47

Oh, yeah, at the peak, people were just throwing numbers out. I mean, you could list a home and you would get, you know, you'd have it done in four days with multiple offers way above the listing price. Um, that was then. Um I think people were buying on the FOMO, you know, if you're missing out on that. They didn't, you know, nobody can see the future. So they were just grasping at whatever they could, and it emotions got involved really quickly.

SPEAKER_00 7:15

I just realized the FOMO's like the OMO, which is what we do for all our homes sellers. Just with an F. It's the fear piece, but there's nothing fearful about it. Kelly, is that what you were finding a couple of years ago in DeAndre? Like it was going off the charts.

SPEAKER_03 7:29

Yeah, let's leave the F off though.

SPEAKER_00 7:31

Yeah.

SPEAKER_01 7:34

Yeah, let's leave it a FOMO. Not the F word.

SPEAKER_03 7:38

Yeah. Yeah. I I remember at that time I actually had uh some neighbors of mine uh that own a house in my neighborhood and were just going around the street to be across from another family. And people were waving their their appraisal and they're waving their financing. They just took them off. And it's like the house that the one particular house, I think it went for I mean it was eight to ten thousand dollars more and they waived their they waived their abilities to get out of a base on the appraisal. And I'm like, are you okay, that's what it was going for. But you know, that's coming off COVID.

SPEAKER_00 8:15

So please, please, please, everybody hear this. Do not buy a house without an inspection. I, you know, you've probably got Jim who's your husband who says he's, you know, I'm sorry, I'm being sexist here, whatever. You'll know me by now. So you've got Jim who's your husband who can fix everything and put everything right. And he's done a bit of construction here and there. So you don't need an inspection. You don't need to be spending that five or six hundred dollars. What would you say to that, guys?

SPEAKER_02 8:42

I would say that's like trusting your parents, your dad, who's been a handyman here and there, to come in and and do the inspection for you. It's that same thing. They just don't have the resources to be able to know exactly what to look at to protect you later on.

SPEAKER_00 8:57

Yeah, you really, really need that correct protection. What would you say, guys?

SPEAKER_03 9:02

Yeah, I agree. I would say you need to agree. Thanks, Marceline. I'm sorry. I mean, I'm a general contractor and I'd go at least general contractor if not inspector. But it's like there there are so many people things, people do not know all the different tiny little things in their house that inspectors or general contractor are gonna go through. And with the state of selling and how litigious we are, you need somebody who's going to cover you or allow you to put that on, you know, put your seller's disclosures on the market with full faith that you're not gonna have something come back and bite you.

SPEAKER_00 9:40

Absolutely, Mass Fain.

Certified Pre-Owned Keeps Deals Together

SPEAKER_04 9:43

Yeah, I completely agree. I I think having the the home inspector one, it just gives surety of this on both sides. I mean, the seller actually understands what the status of their home is, and then the buyers coming in and understand exactly what's you know what they need to do or what they you know what has been done to the home. And so I think it's just more of a more of a certainty having that um inspection done.

SPEAKER_00 10:09

And that's a perfect segue into certified pre-owned. And you can see more about this at allstarpowerhouse.com, all staral s t a r. I know I talk funny, starpowerhouse.com, and uh click on CPO, it's right at the top in the menu. So with certified pre-owned homes, we do the inspection and sometimes the appraisal and sometimes the home warranty. That's the trifecta. Certified pre-owned, it's just it the idea came from a certified pre-owned car back in 2006. So it's been 20 years now of CPO. I started when I was two. And um, you know, it's it's just a very, very effective thing to use. As we started off talking about at the top of the hour, when you do the expection inspection up front, you know all the little nitpicky things. So you can copy this as a home seller and go and have a look at allstarpowerhouse.com on the click on that little button, CPO, and it'll tell you all about it. Just get that inspection up front. Home sellers say to us, Well, don't the buyers do that? Here's the problem. When you get the inspection up front, I'll I'll let Deanna explain it to you.

SPEAKER_02 11:22

Okay. Yeah. So when you get the inspection up front, everyone's going in eyes wide open. Because once you get that report back, you as the homeowner can decide which items you're able to fix at that time. Because let's face it, we all know there, there are what, 40 to 50 things on an inspection report, even for a new home that come up, people just don't realize that's that's what it is. And so what happens is you can decide to make those repairs, you can notate those repairs. And then you have um when buyers come in, you have less negotiating that goes back and forth. So what it ends up doing is it actually increases your sell chances of selling from about 67% to 93% because you've been transparent from the get-go.

SPEAKER_00 12:06

So what happens if it drops out, Kelly? Do people call you like what happens? So they drop out a third of the time when it's under contract. It's not an if or it's a when we're gonna get it sold for you. We've gotten it sold for you, and now your buyers are gonna do the inspection. And then uh a grandma's listing, a conventional listing, they drop out about a third of the time. Ours drop out 7%. We're working on a magic wand. Marcelino's uh making them all for us, which is fantastic. What happens, Kelly, when when uh a listing drops out?

SPEAKER_03 12:38

Well, now that you have to put it back active on the market, the days on the market start to increase and it creates fear on both sides because buyers' agents are gonna come in and give it the stigma, okay. This what's wrong with this house? And if you do it that way and let it go through the old natural processes, then yes, there could be a stigma, there could be some something wrong. And now the seller has to react to that and they have to account for it if it's something major. So because now they have knowledge. But the thing our certified pre-owned offers is peace of mind, and it I guarantee you it takes stress away from the seller side because the seller we don't know every thought they take on. We talk to them, we engage them, we walk through it, we help them all along the way. But there are points of the day that they are not, they're sitting there thinking, that same thing. What if this falls apart? What happens? But with the certified pre-owned, they get the facts of what their house is and they have that comfort knowing that no matter what somebody else brings in, it's not going to be that big a shock. And it's going to keep the contract in place longer because they've already beat the buyer to it. And another point I wanted to make is the buyer in their inspection, that's for their side. It's just like buying a new home. The new home, this agents who are representing the builder, they represent the builder, not the buyer. So you absolutely want somebody on your side. And that's what our advantage is. Part of it is we're on your side. We're helping you know everything that's going to come or getting to the highest point of percentages of what's going to come so that when somebody comes and asks, they don't get to use that leverage to knock down the price or to cancel the contract, which is just heartburn and heartbreak for the seller.

SPEAKER_00 14:23

That's miserable. Marcelino, do you have anything to add to that? Tell us about would you buy a car off Facebook Marketplace?

SPEAKER_04 14:31

Well, I don't know. Those pictures nowadays, they're pretty good. They're pretty convincing. I mean, if it's the right number, and I think I'm getting a good deal. But yeah, I I agree with this with the CPU with our certified pre-owned. Also, um, something that we've I'm not sure if we mentioned it yet, but how it actually reduces the time um under contract because they already come in there and they and it'll reduce the time, you know, it could up to you know 15, 20 days if you're not doing the traditional, you know, type of a of a sales where they give you that, you know, that 20 days for us to do the inspection. And if the inspection is already done, now they already, you know, it reduces that timeline under contract. So I think it makes it better for the seller when we're representing the seller that the people coming in, especially the ones that are coming in with, you know, with either cash offers or already pre-approved letters, um, they can close quicker.

Net Sheets And Real Home Values

SPEAKER_00 15:26

Absolutely. And it's not that people don't do their own inspections, they can absolutely do their own inspections. Um, and we're talking about certified pre-owned now rather than bolting on the cash offer, which we're gonna talk about as well. But if you are thinking about selling, make sure you check out cashcpo.com. We're gonna give you a net sheet with everything on it, everything from your FISBO net. Net means what you're gonna put in your pocket. You can literally compare all four, your FISBO net, the money you're gonna put in your back pocket against the conventional net, that's grandma's listing, against the conventional CPO, that's where you yourself go and do the inspection at front. Um, and then the cash CPO is like a bolt-on cash out option to the conventional CPO. So you get all four. And it's a net sheet. You're not obliged, nobody's gonna be blowing up your phone, not too much anyway. Um, but just put it in at Cash CPO, you'll get that net sheet back. It'll ask you a few questions about the condition of your home. It's a great way to get a home value too. You know, it has don't trust. Well, let me ask you guys, what do you think about online values? The ones where you just push a button and it spits it out.

SPEAKER_01 16:36

Oh, they're completely generic.

SPEAKER_00 16:39

Yeah.

unknown 16:40

Yeah.

SPEAKER_00 16:41

We're not AI, believe it or not. We I promise you, this is a real my hair would be much better than this today if AI, I promise you. Um, we're definitely not AI, we're real people, and we do a deep dive based on things that AI still can't do. I mean, let's face it, his estimates aren't exactly spot on. A lot of people look at that to price their house, and then buyers are looking at it and going, well, wait, that that that estimate online is, you know, more than what we're paying for it. Like, where does that come in? None of it makes any sense. So, you know, have somebody do it properly and cashcpo.com, you'll get it back very quickly. Not only will you have it will show you the money you're gonna make on a FISBO, all on one page. And it's it's pretty. Um, it's you know, it's four lines on one page. It gives you the amount that you're gonna put in your pocket off those four different options because there's more than one way to sell your home. Very, very important. So, and it also, you know, most agents when they go in to list a home, I would say maybe 10% take a net sheet. In other words, showing you what you're gonna make after all the expenses. Most people don't know that. You know, so and they go off how what do you think to that?

SPEAKER_03 17:55

You think it would be 10%?

SPEAKER_00 17:57

Say that again, I'm sorry.

SPEAKER_03 17:58

I don't think it'd even be one.

unknown 17:59

Yeah.

SPEAKER_03 18:00

You think it'd be 10%? I don't even think it'd be one. Yeah, you probably heard of an agent take a net sheet until after they get the listing, and then the seller goes, Okay, how much am I gonna net? Well, you could have figured any agent could figure that out in the beginning.

SPEAKER_00 18:13

Yeah. So Well, we do that before we even leach, right? So you're getting it up front.

SPEAKER_02 18:20

Right. And the difference with a CPO expert is we're we're not we're not meeting with a homeowner to get the listing, which is what a lot of agents do. We're actually meeting with the homeowner to present options so that they can select the best path for them. And we get the listing to get it sold. That's the difference. We're getting it sold and we're netting that homeowner often 90 to 120% more than if they would have just sold the grandma old-fashioned way.

SPEAKER_00 18:48

Yeah. So that that's a very good point, Deanna. Why don't we actually dive in before we go to senior living and how it works with senior living and talk about how it works? So we do all the regular listings. We very seldom do grandma's listing because it's just not the best way to sell your house, um, quite frankly. Um, I'm gonna turn off these uh little uh things on here just so we don't get too many pings going on because they're not fun, are they? People are trying to get hold of me, apparently. It's all those people wanting to list the house. So um, you know, we we do we seldom do conventional listings because it's just it's grandma's listing. We haven't been doing that in 20 years, you know. It takes a little bit more work for us to help you with a conventional CPO, not for you, for us. That's where you do the inspection up front. You don't have to dis you don't have to fix anything if you don't want to. Should you decide to fix something at front, when you get the inspection back, a step back a minute, it'll cost you five, six hundred bucks. When you get that inspection back, it will have, believe it or not, I I hear it all the time, my home's perfectly maintained. All these agents will tell you from both sides of the coast in the mountains that there are 40 to 60 items that come up and a good 20 or 30, even on a new home. Just the way it is, these inspectors have to earn their money after all. And I'm sorry if you're an inspector listing. I I love you guys. Um, we couldn't couldn't do our work without you. When you do that, we can go through the inspection list. We'll make a list of everything on there for you. And Jimmy down the street can fix a lot of the nitpicky things. Or maybe, maybe you're handy. Like obviously Kelly could fix his own. I'm guessing Marcelino could fix his own. I could fix some of my own too, and I know Deanna could. So there's some that you could fix yourself and put right, and then we can just notate it. Now, if you've got Jimmy down the street, they might be a contractor, they might be not, they might be a handy person because a lot of them are nitpicky things. They can probably put most of the things right for 250 bucks. Now, scoop forward to when you're under contract, and yes, you're correct, the buyer does their inspection most of the time. The buyer's gonna do their inspection, they already feel like they're overpaying because of where the market's gone. So let's say they're buying a$500,000 house, they're gonna use that inspection against you, right? They're gonna say, well, there's all these stuff and things we want 20 grand off. And as much as you say right now, well, I'm not gonna do that, when you have moved, you know, settled on your new kids' schools, or you you've got your house chosen, or you're going into whatever it is, going into senior living, moving to another state, at that point you'll be like, okay, we'll give them 15 and let's move on. Let's not do that, right? Don't don't waste that money. The average is three and a half percent in a repair request. Or they'll say, once you're under contract, they'll say, we want a licensed contractor, and they've got a week to finish it. What do you think happens to the price of those repairs?

SPEAKER_04 21:43

Uh they go way up.

SPEAKER_00 21:45

Of course. You're over a barrel, right? Well, the everybody on the show today, Diana, Kelly, Marcelino, what do you think to that? Do the prices go up when the poor our poor home sellers are over the barrel? Almost every single time. Yeah. Do we say over the barrel here? I've been here for 30 years. You think I'd know by now? Is that an American term over the barrel?

SPEAKER_04 22:09

You must be a rodeo queen.

SPEAKER_00 22:12

So they're stuck, right? What is the American term for that? They're just stuck between a rock and a Hard place. Does that work? There you go. Yeah.

SPEAKER_03 22:20

That's better.

SPEAKER_00 22:21

Yeah. And it's and you can say until you blow in the face right now, before you've got that offer in front of you, oh, that'll never happen. It'll be fine. All the agents here today can tell you it happens time and time and time again, which is why a third of them drop out, because we all dig our heels in and you know we don't want to do anything. This takes all of that off the table. All of that off the table. You can either fix things inexpensively up front or disclose them if they're a material fact. And then everybody goes in white eyes wide open. So Deanna brings me an offer and says, you know, I've got a$500,000 listing. Deanna brings me a$500,000 offer. And I go, thank you so much, Deanna, for your offer. By the way, this is a certified pre-owned home. Let me share the inspection with you. And before we all sign, I'd like your buyers to take a look at the inspection. What does that do, Deanna? How does that change the game?

SPEAKER_02 23:13

It creates a there's a trust element that you just threw into the transaction. And it it it's it's warm, it's it's reliable, is you're you're the trustworthy agent that's that the other one is working with. And for the sellers that are buying the home, it creates a lot more stability and faith in the process that they are getting a good home.

SPEAKER_00 23:35

Yeah. Anything to add to that how the transaction changes when you've already got the inspection in place and it's done before everybody signs.

SPEAKER_03 23:47

That's the thing for the like Deanna said, there's a trust element. People are more likely, the buyers are more likely to be attached to attach to this house that has the inspection and stuff on it. Because it's it's it's out of the ordinary. Like you said, you refer you refer back to grandma's home, but it's it's out of the ordinary. And here's this we're being upfront, we're not trying to hide anything, because there are issues where people have bought homes after the fact, and that's where lawsuits come from, because the seller very well may have known about it and didn't tell anybody. But this in this case, with us helping them through the CPO process, we're putting it out there up front. We're not hiding anything. Here's what's going on with this house, here's what we fixed, we've made it better. We want the next buyer to enjoy this house. There used to be the thing with the love letters. Oh, you know, when the offer came in, we love your house. And that's how people, the sellers feel about their house. I mean, when I'm selling my house, I'm gonna think it's worth. I mean, I'm gonna put into it. This is what I love about it. This is why I hope you love the house as much as I do. But now it's like the buyer can go, okay, these people have put some effort into making sure the house is as good as it can be, which makes it stand out. That's what our whole process is trying to do is with the competitiveness in the market, we are trying to make it shine and stand out. Yeah. Because trying to sell your house, there's reasons for it, and you just want to get it done. And ours makes yours the one that goes first.

SPEAKER_00 25:23

So, Marcelino, why do you think buyers' agents, at the end of the day, buyer's agents, you they're not volunteers, right? They're actually getting paid. Why would a buyer's agent prefer a certified pre-owned home compared to um a home that's not certified pre-owned?

SPEAKER_04 25:40

Well, I mean, if the if the buyers are coming in and they and the buyer's agent is actually knowing what the certified pre-owned, you have to educate them on pretty much what it is at first. But when they're advising, you know, and they're talking with their clients, if if the clients are even, you know, remotely thinking of another property that's similar in nature, you know, they'd be like, Well, are would you rather go into something that you that's known, or would you go into something that's unknown? Yeah. And so by doing that and and showing their clients, you know, the benefit of already having you know the inspection done and and already know what that is, I believe that that that brings credibility to the buyer's agent because he's looking out for the best interest of his clients.

SPEAKER_00 26:27

Yes, absolutely. So uh it always blows my mind. It's blown my mind since 2007, honestly. Like, why do we take an$80,000 car, or$20,000 car, certified pre-own it? Put it so Carvana, Carmax, every dealership you can possibly think of has certified pre-owned cars. 156-point inspection, dealership warranty, and a black book value. So you wouldn't go and buy a car. Most people would prefer not to buy a car, a Facebook marketplace. You're paying six to 10% more for a CPO car off the dealership. So why on earth do we take a$300,000, a$500,000, a million dollar home and throw it on the market only to fall out a third of the time and all the stress and money that costs. It's like the inspectors of, sorry, inspectors, I'm railing on you here. It's like the inspectors got together and said, oh no, let's not CPO. Actually, inspectors love it. Um, but I mean, it's all the money that imagine the stress. You're a buyer buying a house, you've spent probably a thousand dollars on inspections if it's had a septic and a well or something like that. Roof inspection, maybe because you weren't sure. And then it falls out, and maybe you're looking you're losing your due diligence money, maybe you're through the earning and that meanwhile, it's not just money, you've got the moving truck book booked, the sellers have got it's a nightmare when things fall out. A third of the time. We're not talking about 5% of the time. It's a high probability it's gonna drop out. That's awful. Why would we do that? Can anyone explain to me why you would do that instead of spending 500 bucks and working with an agent who who knows how to do certified pre-owned?

SPEAKER_02 28:03

Because that's the way it's always been done.

SPEAKER_00 28:08

Don't you wish? So you we all work with buyers as well. What does it feel like now when you're going into a non-certified pre-owned home? Slightly different. What are they thinking of? Say that again, Kelly.

SPEAKER_03 28:25

There's always questions. I mean, I mean, I hope sellers understand. I I can tell you buyers do. I hope sellers understand that this is their think about it. This is your greatest asset. If you own multiple properties, good for you, you've done very, very well. The American Dream. But this is their greatest asset. And they want it to be done as well as possible. And if a buyer's coming in, they want to know they're buying the highest quality. Don't don't you always want to do that? You don't you know going back to the car, you know, you're not gonna go buy a little piece of junk just because you're afraid of a CPO. I mean, if you can afford a CPO car, you're gonna go buy it.

Cash CPO Brings Money Upfront

SPEAKER_00 29:07

Well, and you know, uh again, it's a safety thing. So if you're driving around in your car and you're not sure of what you've bought, maybe you've bought a lemon, maybe it's not so great as a CPO. A CPO car you can take back to the dealership, right? Isn't it the same in a house? What if there's plumbing issues? What if there are electrical issues? What if, what if, what if it's the same except it's a massive asset. So, and it gives you such bargaining power. It everybody goes in eyes wide open. It's just, it's such a better way to sell a house. All right, let's talk about so certified pre-owned. I hope I hope you've understood that a conventional CPO knocks spots off grandma's listing. So make sure your agent knows how to do it. Of course, you can just go to allstarpowerhouse.com and find your agent there. We certify agents all over the country that that can do this for you or find you an agent in a heartbeat that knows what they're doing. You can copy it if you want. If you're a FISBO, again, go to allstarpowerhouse.com, click on certified pre-owned, lots of frequently asked questions on there. And if you would like to bolt on the cash out option, it becomes a conventional CPO. But the cash out option, which is cash CPO, will give you 70% up front within 14 days. And then when we sell it to the conventional CPO, as Deanna mentioned earlier, you'll get 90 to 120% of what you would with a conventional listing. That's crazy. Right? So, and the fact is, why is it only 90 to 120%? Because the market's shifting, the market's changing. But what we can do with with Certify Pre-owned is have your house stand out. Right. So with Cash CPO, they'll even upfront the money to do if you got anything to fix, like it doesn't matter if you have or haven't, we do this with new homes as well. But if you do have anything to fix, stop that right now. Get go to cashcpo.com, put it in, tell us how much you need to spend. The funding partners will upfront the money to do all of that and we'll take care of it for you, and you'll still get your money in 14 days. It's not one of those skeezy cash offers where you get 70%. Don't worry about that. It's just you get your 70% up front. What can you use that? And we're gonna segue into talking about senior living using it outside of senior living. What kind of scenarios have you guys seen this work in? And that's to Deanna as well, just outside of senior living. We'll we'll finish up with senior living and then Deanna will talk about how it works in senior living. Okay.

SPEAKER_03 31:37

I have a personal personal friend who was married, um, but separated from his wife, and he passed away. And the wife owns her own home and she so now but she's um, you know, through their legal work, whatever, she's the owner of this home now after he passed away. And I believe they both bought it together in early nineteen nineties, nineteen ninety-three. So what are we, thirty-three years? And it needed a lot of work. And I offered my services to her to help her understand all these avenues. The fizz bulb wasn't gonna work. She was gonna get nailed because of the condition I was in. It wasn't good. It needed a full remodel, frankly speaking. And somebody investor could take that on. So she got a lot of those, I'm sure. But taking her through the process and understanding She didn't want to think about doing that.

SPEAKER_00 32:32

Her husband had just passed, right? So she wants as much money as possible, which you were able to do. That's awesome, Kelly.

SPEAKER_03 32:40

Yeah, the the stress she had, exactly. Sh do you you don't know this is gonna happen. All of a sudden, here you go. Your husband's passed, which is creates a great deal of stress. And now she has his home to deal with because it was joint uh you know, joint ownership. But that's not what you wake up to in the morning and you go, okay, great. Now, oh yay, I gotta deal with any, I gotta sell this house. So with me showing her our options, it helped direct her on which way to go. So she had, like you mentioned all the time, clarity. And as we've been talking, one thing's popped into my h my mind is knowledge reduces stress. And when you say eyes wide open, the knowledge just takes out all the questions and stuff. And that's where everybody gets stressed on is questions. What about this? What about this? What about this? Well, you take that all out with our programs, our certified pre-own. And when she saw what I had to offer, it just it gave her trust in me to help direct it. And then she knew what she could do with it, and it re because she was completely blank when now all of a sudden, okay, I've got this house, what do I do with it?

SPEAKER_00 33:51

I've used it with with um kids who inherit it. Well, is it when I say kids, they usually in their 60s or 70s that inherit a house. It's like, where do we go from here, mom and dad? You know, mom was usually it's usually mom was left on her own, and then you know, dad passes, mom's left on her own. She's older, the house hasn't been upkept, uh, not really remodeled a lot of the time, and we can really get the most money out of it for that. And it's just so much less stress. I've also done a new home that was um a purchase right at the peak where money was being thrown around, and it was a second home, so we got his money out for him, and a third one that I just did a couple of weeks ago that uh Denise, if you're listening, I spoke to you this morning. They were moving down to Florida, and um, we sold their home here in North Carolina, got them on down to Florida, and and now they're working on getting the next home down there. So just the convenience of being able to move so quickly was awesome. How about you, Marcelino?

SPEAKER_04 34:53

Yeah, one of my clients, I mean, his father had a long-term rental, and so the fat the dad was like, he it didn't pass, but he's like, hey, this is this is for you now, son, you can take over. And and he was like, Well, dad, I didn't want this long-term rental, but in order for him to, you know, get all of the equity out of that, we was able to use the CPO. And uh then he could take that initial, you know, the initial payment of it, and he's going and investing that into Airbnbs, which will give him a better return on his investment rather than the older home. And we'll fix that up a little bit. And uh it'll take probably about 10 to 15,000 to fix it up, but it's gonna add a value of 25 to 30,000 on the home. And so, yeah, as far as convenience um and speed of money on you know, return on his money. Now he's able to go over there and he's actually looking for the Airbnb's home. So he doesn't have to cross-country, you know, landlord.

SPEAKER_00 35:51

And he's tacking out the cash out option onto conventional CPO. He could have just done conventional CPO, whereby by at putting that little bit of money in and he doesn't have to put any of that in, and you're taking care of all of it. So he can walk away with 70% in his pocket now and get the rest of his money when you get the home sold, correct? Exactly. And you take care of all the the I mean, you're not gonna physically do the remodel yourself, but Oh, yeah, just oversee and make sure that it gets done, you know, to his his liking.

SPEAKER_04 36:19

And uh then when we sell it, it'll, you know, it'll get a lot more off of the market.

SPEAKER_00 36:24

Yeah.

SPEAKER_04 36:24

Then if we left it as it is.

Contingent Offers And Stronger Bids

SPEAKER_00 36:26

That's awesome. So we've done divorcing clients, we've done new home clients, a regular, you know, everyday clients can can make use of this. It's just so convenient. If you if you're going to buy a house somewhere else, oh, let's talk about contingent offers. I know Deanna's been working with those recently. What's it like when you put a contingent offer in on a property?

SPEAKER_02 36:49

It becomes very challenging. Um, you know, you you question whether or not the the home seller will even entertain it because they don't have a guarantee. And they might be going through their own life transition and can't rely on an iffy offer coming in to make their own move and which which will leave them displaced ultimately. So it's very challenging.

Senior Living Moves Without Fire Sales

SPEAKER_00 37:13

I should have defined that a bit more clearly. A contingent offer is when, oh, you know, we're our house or sell do some people even do it before the house is listed. Our house will sell, we think it's 2022 when everything's flying off the shelf in most places. It isn't, isn't it? You may be listed, but it might take 30, 60, 90, even 180 days to sell if you're not priced right. So especially if you're not a CPO. The other thing with CPO is it makes them sell faster because people have more, um, obviously more peace with them because they've been inspected and often appraised. So a contingent offer is when you, as the home buyer, have to sell your house to be able to buy the new one. Most, many sellers will not entertain that because they're effectively taking the house off the market. You can list it so that it's um backups requested, backup offers requested, or that you can still see the house. But most buyers' agents aren't gonna waste their time, or buyers aren't gonna waste their time going into a house they know is under contract, even though but there's another little tip. Always go see them anyway, because a third of them drop out if they're not a CPO. Don't go see hours because now they're gonna close. But yeah, sometimes it's worthwhile. But you don't but the cash out option allows you not to make a contingent offer. And they do have a fee, it's half a percent. But if you're buying a$500,000 home, I'm I'm mixing up the two programs now. So we won't talk about that. But it it really does, you know, put you in a much, much better position when you do the cash out option on your house with the cash CPO, and you're able to make a non-contingent offer on another house. We can also even turn you into a cash buyer for half a percent on on it's another bolt-on offer that makes it all seamless and gets your offer much stronger because it's a cash offer, which is awesome. So, Deanna, tell us how that works in senior living.

SPEAKER_02 39:00

Sure. Yeah. Well, first of all, I don't know if anybody's noticed, but there's a commonality in what we've been talking about today. And that's really how we as CPO experts are able to help guide families and individuals through their life transitions, whatever they might be. Um, and you know, we talked, we started the conversation with grandmas. We're gonna go right back into it with senior living. Uh, I actually managed a local senior living community here out in Utah for 14 years and moved in over 640 residents. So you can only imagine how many family members were tied to each one of those individuals that that decided to trust us with their loved ones. So um that's that's where my experience comes into play with what we're talking about now. But it's especially important because most people, especially um older adults, don't realize that there are any other options for them to sell their home. And Kelly earlier talked about, you know, our homes are usually our biggest assets. Well, a lot of these people that are looking at having to leave their home because they can no longer care for themselves on their own in their home, or they've got caregivers coming in and it's just getting too hard. Um, they have they have to look at selling their home so that they can afford to move into assisted living or independent living, even. Because the average cost out here in in the Utah market is about$6,000 a month for full care in assisted living. And so um, you know, in fact, 85% of seniors have to sell their home so that they can afford to move in. So there are a lot of stress points that come into play. The homeowner, the individual who's in the home. And, you know, maybe they've been there for 20, 30 years on their own. They've lost their spouse some time ago. There's been a honeydo list that didn't ever get tended to because they didn't have the mobility or the ability to hire someone to come in and, you know, make sure the furnace was had it upkeep and uh, you know, mow the lawn and all of the things. So they're left in this stage of stress and don't know what to do next. And so what we provide for them for them is a clear path on how we can help get them transition to the senior community smoothly and take care of the home. Plus, they participate in the upside when we resell the home after we've come in and done all the refreshes.

SPEAKER_00 41:27

So we're flipping it for them essentially. And we're all on a bit of a mission for this because we should tell you the story of what normally happens. So um, have you seen investors come in and buy for pennies on the dollar? We had one actually that was offered 40 cents on the dollar. Can anyone talk to that?

SPEAKER_02 41:47

Oh, yeah, absolutely. What happens with that is the the seniors are basically getting their homes stolen from them, right? And investors have a job to do, right? They're all about the pro like everyone's in business for a profit. We get that. But what's happening is they're coming in and they're essentially stealing the home from the individual. They're putting the money in to renovate, they're reselling it at the higher value. And who's pocketing that money? The investor. Okay, great. If someone's agreed to that, fine. But where our program differs is that our homeowners get the certainty now. They're involved in the refreshing process. We call it our HGTV magic. They know what's going on. They're helping to kind of go through that decision process. And they're participating in the upside when we resell the home later. So that's the big difference.

SPEAKER_00 42:37

That's wonderful. And also, you know, what so anybody that has as knows anything about senior living knows there's generally a wait list. All the better ones have a wait list. So the seniors on a wait list sometimes for years. We've got one here that's an eight-year waiting list. The average age of going into senior living is 84. So imagine you've been waiting for eight. I mean, what are you doing? Like being born and putting yourself on the list, you know, so you get your place. Crazy. So when you get the call from somebody like Deanna that's managing a senior living community anywhere in the country, then you've got to jump fast. And that's usually when the rub comes in, right? Because often the senior living communities want a chunk of money down, with or at least you can get a lower monthly fee by putting a chunk of money down. And some of them require a chunk of money down. Um, in the in 14 days later. Otherwise, they move on to the next person on the list. They get bumped off the wait list. I think that's the saddest thing ever.

SPEAKER_02 43:36

It is. Yeah. I had one um couple who was on my wait list for two years, which was about average for the market at the time. But I called them four or five different times during that period to let them know that their prized two-bedroom apartment that we had, it was the writs of our community was available and they had to turn it down three out of those four times because they hadn't got their home ready to sell yet. And had I known about this program then, I would have gladly connected them with a CPO expert to help them facilitate that process. Because what and what ends up happening is just what you said, they get bumped down on the list and they have to go through the rotation again. And not the saddest thing of all is that some people don't make it off the wait list and they never get to experience the care that can be provided at those stages of life in a in a community like that.

SPEAKER_00 44:29

But we can go in and help and yeah, please do.

SPEAKER_03 44:35

So the other thing too is we need to tell them that they they get to leave their house as is. They can take they take everything they want, they move into the place, we get them in soon, and we have a time frame that we can help adjust with, but they just get to go and then we take over and help fix their house up. We've had we've had a couple of situations where that's happened and the houses have been not in good condition because they've lived there forever. But we come in, we don't care what the house looks like, we care then we care what the house looks like when we get done with it, which is gonna be hundred percent better than what it could possibly be in the moment. Pick up and go, get on with the next stage of your life because the stress again, the stress, hey, Deanna calls them. Hey, we've got we've got your room ready. Oh, we've got to sell our house. Hey, we have them in and out, like you said, within as little as 14 days, but more often than not, it's gonna happen in 30. And there may be, I I yeah, I had one personal situation with our program where they had to sign a 90-day note. And the homeowner's like, you can get this done in like 30 days, so I don't have to worry about this note. It's like, yeah, we can get you some money to get rid of that promissory note. It's the pick up and go, the quickness, all the stuff we add. Like you said, I you haven't touched on it, but no showings and stuff like that, no open houses, whatever. Pick up the dog and go.

SPEAKER_00 45:55

Like, pick up the dog and get. And so final words from Deanna and Marcelina.

SPEAKER_02 46:00

I wanted to just share that, you know, I would like to know that with our program, we become experts in the senior living world as well. And so the way that we're all connected is we've built partnerships with our local communities in our area with our program. And so the idea is when someone does have someone on their wait list that needs some help, we're able to help them at that time because they're connecting with us directly.

SPEAKER_00 46:24

I love that. Marcelina.

SPEAKER_04 46:27

Yeah, I I believe the in the senior, you know, in the senior community, I believe the, you know, what we have to offer is really good, even just for the families, the peace of mind of the families. I know out here in Utah, um, it's uh, you know, it's like a breeding capital of the United States because the way it is, anyways. Uh but a lot of the a lot of the you know, a lot of the need more babies.

SPEAKER_00 46:50

There's nothing wrong with that. We need more babies.

SPEAKER_04 46:52

And they leave here and you know, and they go out and they do their own portions of their life, but mom and dad are still left here. And so knowing that, you know, you can reach out to the family members and be like, hey, we got it covered. You don't have to fly in from, you know, the Floridas or the Carolinas or the Texas or whatever to come in and do it. Um, we just explain the program to them. Um, and it makes it a lot simpler um for the transition, even for them talking with mom or dad or whoever's in that process of going into the assisted living.

How To Compare Options Today

SPEAKER_00 47:23

Absolutely. So, you know, what we're really saying today is before you sell, well, maybe you're selling now, compare the pathways. Get your agent to do if you're already listed, talk to your agent about um cash CPO and also certify pre-owning your home. Remember, you can go to allstarpowerhouse.com, click on certified pre-owned at the top. It will tell you all about it, all the frequently asked questions. You can call us anytime 247 at 828 333 4483. Um, look at the numbers, see the timing, get the net sheet for yourself and take a look. And we're gonna say goodbye from Ro and Kelly and Deanna and Marcelino, and we're all gonna say bye. Bye from the mountains on both coasts. This is Rogina Pattern on the Real Estate News Radio Show, and we'll see you next week on the radio.