Episode 1: Here is the link to the Economic Impact of a Home Sale by State from the National Association of REALTORS® website:
#001 – This first episode is an introduction and overview of what is to come.
Podcast Voiceover Intro
Welcome to Episode One of The AGENT ON DUTY podcast where host John Marion talks about the world of residential real estate. If you love real estate and are curious about what it’s like to be an agent, or if you just want to learn more about oddball, crazy, even shocking situations that come up in transactions, stay tuned. The Agent on Duty will give you inside information: Myths, legends, and misconceptions will be shattered. Join the fun while you learn from experienced buyers, sellers, agents, brokers, developers, builders, investors, architects, designers, and other industry pros. Wow!
Agent on Duty John Marion
Welcome to Episode One. I am John Marion and I am the AGENT ON DUTY. I want to tell you a little bit about our show. We’re going to do this weekly, and I am going to talk about the residential real estate industry. So this podcast is for everyone that has an interest in real estate. People who love real estate. Are you curious about real estate? Do you want to learn more? This podcast is for you.
I’ve been involved in the real estate industry for 20 years. I spent my first eight years dabbling as a landlord. I became a landlord accidentally. I had no reason or no purpose to become a landlord, but I was thrown into it because of a home that I owned when I was moving that did not sell and I had to rent it to pay the mortgage. So I became a landlord by accident, if you will. Well not accident just without really planning to become a landlord. And then sometime after that, I bought some raw land and I learned about the timber industry and those were a few transactions I did. And then I eventually jumped into the real estate industry as an investor and did that about 12 years ago. And I’ve been involved in real estate full time for the past 12 years.
So I’m going to bring my 20 years of experience to you. And as an investor, when I got started in real estate, I have since become an agent shortly after I started investing in real estate and I moved to the Atlanta market and my real estate agent when I moved here with my family is now my business partner in the real estate industry, Sandra Watkins. And she’s going to join me as a guest on some of our future episodes.
And I became an agent with RE/MAX Town and Country, a brokerage in Canton, Georgia, just North of the city of Atlanta, and eventually got into property management as well. It was kind of a natural outflow of investment property to running a property management company and offering property management services to investors who were buying homes and holding them as rentals. So we’ve been doing that for all these years as well.
I’ve since become an Associate Broker with RE/MAX Town and Country. And my company, the name of my company is Innovative Properties Group, where we do everything in the residential real estate industry. And I’m going to take my knowledge and bring it to you. My experience 20 years, working with investors, typical home buyers and sellers, as well as the property management side and new home sales, which Sandra Watkins specializes in. So we’re going to bring all that information to you and bring on special guests for specialized topics.
Crazy Real Estate Stories
So this is going to be a fun podcast where we talk about the real estate industry. We are going to deliver to you quality information where you can learn in an interesting way about the real estate industry. And so some of the topics that we’re going to include will be crazy and fun, real estate stories, including crazy real estate news stories. And maybe from time to time, you catch a real estate story in the news that sounds totally bizarre and crazy. We’ll delve into some of those interesting things that happen in the real estate industry that we think would be fun to talk about an interesting way and eventually really help you as you navigate the world of real estate as a homeowner or as a tenant, as a buyer, as a seller, or maybe you’re already a licensed agent or an other professional in the industry.
Real Estate and Your Life
A lot of the content that we have to deliver will help you in your life and your interaction with the real estate industry. And towards the end of this episode, I’m going to explain to you why the real estate industry is so important to you, whether you realize it or not, and how much it impacts your life, whether you realize it or not. And we’ll talk about that at the end.
Renting Vs. Buying
Other topics we’ll talk about include renting versus buying. Is it better to rent or is it better to buy? There’s ups and downs and pros and cons for each.
Buyers Market vs. Sellers Market
What is a buyer’s market versus a sellers market? That’s an important topic and people ask that a lot. Is it, is it a good time to buy or a good time to sell? Is this a buyers market or a sellers market? We’ll define what that is. And we’ll talk about that and how you can take advantage of the different types of markets that are out there in real estate.
For Sale By Owner
For Sale By Owner (FSBO’s). Is it good for you to sell your home or buy a home that somebody is selling without a real estate broker involved in the transaction? There are pros and cons to that. Sometimes it’s not the best solution to problems that don’t exist, but a lot of people like to consider For Sale By Owner. And it is also a good option in some situations. So we’ll talk about the ups and downs of For Sale By Owner properties.
Home Owner’s Associations (HOA’s)
We’ll talk about housing associations. Crazy HOA stories. Home Owner Association communities can be a great thing. Lots of amenities in HOA’s. Swimming and tennis and all kinds of amenities and lots of entertainment, a clubhouse, architectural standards so you don’t have people painting the house crazy colors with polka dots and stripes and, and neon colors.
Maybe rules about what type of vehicles can park in the driveway or no vehicles are allowed to park in the driveway. Everything’s gotta be in the garage.
So HOA communities are an important part of the residential real estate industry and HOA communities are not for everybody. And a lot of people that buy in an HOA like the appeal of an HOA, but after they move in there and they see a guy driving around in a golf cart, jumping out in front of their lawn with a ruler and measuring how tall the grass is and issuing a fine if your grass is too tall – a lot of people don’t like HOA’S for reasons like that.
So we’ll talk about HOA’S and the pros and cons of living in an HOA. And if an HOA is for you, and we’ll talk about crazy HOA stories some of them are fun to listen to, but they really are nightmares for the people that experience it. But we’ll enjoy listening to those stories and finding out more so that you can learn about HOA communities.
Distressed Fixer Upper Properties
What about buying a fixer upper? Is buying a fixer upper good for you? In a lot of cases, I don’t think it’s a good idea for most home buyers to buy a fixer upper, but it also is a good opportunity to buy into and have a lot of equity in your home.
If you’re willing to put the work into it, to make it the home that you want and to do the repairs after you make the purchase – it’s not for everybody.
So, but we’ll talk about buying a fixer upper and my involvement in the industry as an investor, I’ve renovated a lot, lots of homes and have a lot of experience in home renovation. And we’ll talk about buying a fixer-upper and if that’s a good option for you or not in the pros and cons of doing that, we’ll also talk about what types of repairs make the most impact on your home value. There is such a thing as over renovating a property and putting lots of money into a property with lots of nice features that don’t give you a return on your investment when you go to sell the property. But there may be good reasons to over renovate a property depending on the situation and depending on your situation. So we’ll talk about that as well.
Landlords and Tenants
In a future episode: advice for landlords and tenants. So through our property management company, we’ve learned a lot over the years and I’m going to drag Sandra Watkins in on several episodes for landlords and tenants. So that will be very good quality information.
We work with a number of landlords that are landlords on purpose. They have a long term plan and are acting on it and buying rental property on a regular basis and adding rentals to their portfolio as a way of wealth creation.
But we also have a lot of landlords that were like me when I first got into the landlord business that had never had any intention of being a landlord, but because of life’s circumstances, they became a landlord. And so we manage a lot of properties for people like that as well. And maybe you find yourself in that situation and we can help you navigate through some of the maze of being a landlord and dealing with tenants.
And if you’re a tenant, we’ll help you understand what your responsibilities might be and what you need to do to make sure you understand the contract that you’re signing and your responsibilities as the tenant, so that you can get your full security deposit back when you move out. And so we’ll have lots of information for tenants as well.
Timing Your Real Estate Transaction
A lot of people ask what is the best time to buy a property in a market – that kind of dovetails with the other topic of buyers markets, and sellers market. But sometimes the timing is important. So when is the best time to buy, and when is the best time to list your property to sell it? We’ll talk about that.
REALTOR vs. Agent
What is a REALTOR versus a real estate state agent? You know, the two terms and not the same, somebody can be a real estate agent, but not be a REALTOR.
And we’ll talk about that. Many people are confused and it makes no sense to them when they hear that. But it’s true. Is your real estate agent a REALTOR? Many people refer to all agents as REALTOR, but not all agents are REALTORS. So we’ll explain that.
Agency – Brokers, Agents, and REALTORS
And we’ll dive into that a bit and we’ll talk about agency and what it means to be represented by a broker and what a REALTOR is compared to a broker or an agent, and who does the agent represent? So we’ll talk about some of that. That’s very important information, especially if you’re a buyer or seller in the market right now,
I’m going to have guests on this program. We’ll talk with brokers and attorneys and home stagers and preparing your home for sale. We’ll talk to top agents and other professionals in the industry. So this podcast, AGENT ON DUTY, will be packed full of information that you will find interesting if you love real estate and you will find it educational as well.
And it will be a lot of fun. So stay tuned for future episodes.
How Real Estate Impacts Your Life
But before I close out this first episode, I want to say one thing about real estate and how it impacts your life. And then I’m going to ask you to do something for me. Real estate impacts your life in ways that you have never imagined and ways that you are not aware of. You interact with the real estate industry every day of your life, because of where you live, where you sleep, where you travel, where you work, where you go for entertainment and recreation.
Everything that you do in your life is impacted by the real estate industry. Real estate is not just simply buying and selling property, but real estate is actually the land. And you interact every day of your life with land. You travel on land, you walk on land, you live on land, even if you’re in the space shuttle, you’re above the land.
(And, and I love the photography that I see sometimes from the space shuttle. And I wish I knew more about the equipment they use to take some of those photographs cause I’m into photography a little bit.)
But if you’re an astronaut on the space shuttle your life is impacted by the real estate industry. You’re above the land and you look out and see earth and that is real estate. So you can’t get away from real estate even when you’re in space. So your life is impacted by real estate.
The Economic Impact of Home Sales on the Economy by State
And I want you to download a report about the economic impact of the sale of homes in your state. I have a link that I’m posting on our website.
And if you go to that link, innovative properties.com/podcast, I will post a link from the national association of realtors that will have links state by state in the United States that shows the economic impact of a home sale on your local economy.
It’s just not the purchase price of the home, but there’s so much economic impact on the purchase and sale of property in your state. And you can get that number, that figure, and see how it’s broken down and where, were that economic activity is created. So that’s at InnovativeProperties.Com/Podcast.
Subscribe to the AGENT ON DUTY Podcast
And one thing I’m going to ask you to do before I leave and wrap up today on episode one, please subscribe to this podcast. I’ll be doing this every week. And if you subscribe, you’ll get notified and we will be talking about some great fun stuff. And I’ll be looking forward to hearing you and developing that relationship.
Contact me and let me know, give me feedback as you hear each episode and let me know what you think. And if there are topics that you want to want to hear about, if you have questions, leave me questions, go to innovative properties.com/podcast for that link for the economic impact and subscribe to my channel.
Thank you. I am John Marion. I am the AGENT ON DUTY.
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