Welcome to the show! Today’s guest is Casey Powers, Broker and Property Manager at Strawberry Realty Property Management in Las Vegas, Nevada. Casey is here to chat with us about the new iBuyer phenomena that has hit the real estate industry, what iBuyer means and how agents can compete.
Casey breaks down how she believes traditional real estate agents can fight back in this market and how having the means to make cash offers on homes allows agents to keep a level playing field. She also talks about why these new convenience based companies are making property managers nervous and what it means for the rental market down the road.
Listen in as this conversation brings to light what is happening with Amazon and Zillow, the pros and cons to the iBuyer concept and the choices that consumers now have to make between convenience and knowledge.
Show Notes
[03:03] Brad introduces Casey Powers
[05:20] Casey is a secret shopper for Ibuyer, how did she get into it?
[06:13] What is the Ibuyer concept?
[08:20] Are they offering market rates?
[08:39] Do they charge higher fees than the traditional real estate agent?
[09:51] Is there a conflict of interest?
[11:09] Are the Ibuyer reps licensed agents? Do they work for the consumer or these companies?
[12:42] Do they give a fair market estimate for the value of the home?
[15:49] How does this practice affect the comps in the area?
[17:22] What impact do the Ibuyer companies have on traditional real estate agents? The property management companies?
[20:16] What do they do with all the properties they are buying? Renting? Flipping?
[23:08] Can they manipulate the rental market rates?
[24:31] Are there any government regulations they have to overcome? Are there Ethics violations?
[26:10] How can real estate agents compete with these Ibuyer companies? Cash buyers?
[29:43] Is it possible for an agent or property management company to compete by setting up cash sales with the buyers? How?
[32:25] Are they buying occupied homes? Renter occupied? Or are they just buying vacant homes?
[38:48] Casey talks about the new Zillow brokerage and Amazon brokerage how does these work?
[42:38] What has the reaction been to Zillow charging for listing properties?
[47:29] Should property managers refuse to pay Zillows’ fees?
[48:56] What is the best thing Casey has done in the last 12 months to improve her business?
[53:46] Casey says that Amazon has an ad that they send to people through their Alexa device.
[56:01] Did someone in particular point you in the brokerage direction?
Links and Resources:
Property Management Mastermind
Property Management Mastermind Group on Facebook
adisarro@sccombank.com
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)
(918) 728 8992 (Derek Scott with Insurance Management Group)
NARPM Southern States Conference
National Apartment Association
For Conference information https://pmmcon.com/
Welcome to the show! Today’s guest is Nicholas Cook from Rise Realty Inc. and Sleep Sound Property Management Inc. in Portland Oregon. Nicholas is in studio today to talk to me about Culture Index and the rules and regulation changes in the state of Oregon and in the city of Portland.
Brad asks Nicholas about being in San Antonio this week, the ins and outs of his newest acquisition and how they are using Cultural Index to make sure they have the correct people in place throughout their company.
They run through the issues his company will have with the new regulations and how it will affect his tenants. How Oregon is requiring all rental properties to be registered and what they are going to do with the data, also how hard it will be to raise the rent and evict renters if the need exists.
Listen in to this conversation and see if your area could benefit from these new laws or if they are just adding salt to the wounds of a market already in distress.
Show Notes
[03:04] Brad introduces Nicholas and discusses their day.
[04:26] Nicholas tells us why he is in San Antonio.
[05:30] What is the culture of Nicholas’s company?
[07:25] Why is the Culture Index an important hiring tool?
[09:00] With all of the hiring tools out there why is Nicholas going with Cultural Index?
[11:21] Nicholas talks about a current acquisition his company is moving forward with.
[14:10] What was the initial first step of this acquisition?
[15:09] What was the second step? Did you lawyer up?
[16:16] What steps has Nicholas put in place for adoption integration?
[19:39] Brad talks about John Warrillow and Matt Whitaker being speakers at the PMM Conference.
[21:57] What is the licensing requirements when you are working in two states Oregon and Washington?
[24:14] What is going on in Oregon with state regulated rent control? Relocation? What is the reason to not renew?
[34:03] What will the fallout of these regulations be?
[35:08] Who is helping you fight these rules?
[36:20] What is Portland’s screening criteria? How has that changed?
[41:17] How can you protect your tenants with these new laws?
[41:51] Portland requires each rental property to be registered, where is that data going?
The money?
[47:49] What have you implemented in the last 12 months that you are excited about?
[51:54] How good will Nicholas look in a tuxedo at the PMM Conference?
Links and Resources:
Property Management Mastermind
Property Management Mastermind Group on Facebook
adisarro@sccombank.com
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)
(918) 728 8992 (Derek Scott with Insurance Management Group)
NARPM Southern States Conference
National Apartment Association
For Conference information https://pmmcon.com/