Welcome Home with Monique

Kevin Krall 0:00
The content of this program is paid for by Monique Buchanan LLC. The content of this program does not reflect the views or opinions of 91.5 Jazz and more. Or the University of Nevada Las Vegas. You see me

Unknown Speaker 0:25
good morning. This is Monique Buchanan, the host of the welcome home with Monique show. And on this show, I talk all things real estate. Listen, I want to thank you for tuning in. Well, hello Las Vegas. It's Monique Buchanan, the host of the welcome home with Monique show and I am so happy to be here today.

Unknown Speaker 0:44
I feel so refreshed. Yesterday we had that beautiful while we had the beautiful showers that finally came through to Las Vegas. Being from Seattle. I missed the rain. I was so excited. You guys should have seen me. I just love the rain. I literally will sit in my car and just let it rain. Just take it all in. Anyways, I want to give a couple shout outs. A lot of birthdays this month. My birthday is Thursday. I'm thinking God or another wonderful year. I don't take it lightly, especially with all the loss that a lot of us have went through. You guys know I just lost my mother. But you know what it just makes you realize that life is so precious. So I'm just thanking God for yet another year Thursday. My dad's birthday was this past Thursday. I've got my producer none other than Mr. Kevin's birthday tomorrow. Kevin, I love you. Thank you so much. I want you to turn up tomorrow for your birthday. And then Karla Happy Birthday sweetheart. Today is her birthday. You guys. Of course know Miss Carla. It's her birthday today. So happy birthday my April babies. So All right guys, listen, we're just gonna jump right into the first thing on the agenda. Which is it is the K u n v. Drive. Okay, listen, I love this radio station. I know you guys love it as well. But we need some help. Right? Listen, we need you guys to call on in and become a member. Listen, they they provide so much at this station, you know, I get a lot of phone calls from all my wonderful listeners. And I appreciate each and every one of the calls they mo we appreciate your show. Thank you for the content that you're putting out. It's blessing our lives, you know, it's helping us or maybe we're sharing it with family and friends and able to give them some knowledge that maybe they otherwise would have not known. Well, I could not provide this information without K you and be opening this door, you know, for the community. And for me, you know, to be able to sit here and pass my real estate knowledge off to you guys so that you'll be in the know of whichever way you go, you know, you'll be in the know. So I just I just pay homage to K, u and v for that. We've also got other shows, because of K u and v we got date l Washington's Veteran Affairs plus show. That's amazing. That's given our vets. Great information. Don Marquez is, you know, guiding you through the murky waters of insurance. I know we all we need it, but we don't I don't know about you, but I don't really understand it. But because of Don, you know, pouring his knowledge out. I'm able to make you know, educated decisions when it comes to insurance. Right. And same thing with Miss Leah Crawford and Rhonda Nolan. They're given amazing tax advice, business advice. And that's all because k u and v has provided this platform for us. And we're not even to talk about the amazing jazz music that we hear. Right? That's just you know, because of K UMP. So I don't take it lightly. I want to say thank you so much. 91.5k u MB. Thank you so much for providing this platform for all of us. We appreciate you and we're going to show you by becoming a member, please, please, please jump on www.kumv.org/membership Go ahead and become a member with me. All right. All right, we got to be all in the family. So anyways, now that I've got that out the way, I definitely want to reach out to my listeners that are thinking about listing their properties. Listen, it is time. It is time to list if you've been sitting on your hands and just kind of thinking about it but not sure if you want to move forward. Let me give you a couple reasons why this is time to pull the trigger. Okay. The rates, rates rates, you guys back in January. We were like in the twos and threes. Now today, we're literally in the fives and six. Why money? Why does that matter? For me? If I'm thinking about selling my property, what does that matter? Well, depending on what price point you're at, it matters tremendously because the pool of buyers that your home will target with that price point. Those buyers are affected by this rate. Okay, I've had plenty of buyers unfortunately, have to, you know, bow out of the market because the rate went up on them and they could no longer afford the property. Let me give you an example. A buyer that was looking at properties just in January. And he was he or she were looking at was looking at $500,000 purchase price point. Okay, at 2%, around 2%, their payment per month in January for that $500,000. Home would be around $2,500. Okay, not too shabby for 500,000. That's not that bad, right? Like I said, we've got people renting apartments for, you know, that amount. So it's pretty crazy. But that's, that's the truth. So that was in January. Now, you guys, that same buyer, that's looking at 500,000. Okay, but now they're at the five 6% rate, guess how much their payment has went up $900, almost $1,000, they're now going to be paying $3,400 a month. For mortgage, as we're just in January, they're only going to pay 2500. See what I mean by the rates, you know, they really do matter when they go up. It just really hurts you, you know when it comes to that monthly payment. So just keep that in mind. What does that mean for you, the rates rising equal less buyers, for your property, okay, less opportunity to get multiple offers, because you don't have as many buyers in the market. Okay, a lot of buyers are falling off right now, in a certain price point. Okay, so if you're at like 500,000 or less, you know that your house is more than likely going to sell for around that much or less. Even if it's a you know, more, you want to secure the most for your property. This is the time it's also summer right now. That's when, you know, every year summer is when all the buyers seem to come out, we always joke and say, It's like they hibernate during the winter. But then, you know, I will say this, they weren't hibernating this winter, but they really come out in full force springtime, and then summer, you know, they're really out there. So just keep that in mind. You're gonna, you know, secure the most money for your property right now than you've ever been able to in the last, you know, 10 years, you know, so just keep that in mind. If there's things that are hindering you, you know, issues that you're thinking, why can't sell right now, maybe you've got repairs that need to happen in your home, you know, so maybe, I don't know the paint is really bad, or the flooring, or maybe you have some constructional, you know, repairs that you need, guess what, guys, I am your source, I am the problem solver, you could always reach out to me and just talk to me about what's going on in your home. And I'll let you know what we can do. My number is 702984 3700 702984 3700. My name is Monique Buchanan, I am your local Las Vegas Real tour. And my website is www. Welcome home with monique.com. So once again, I am your problem solver. I've got the Handyman in my pocket, I've got the construction crew in my pocket. Okay, I've got the pool guy, the AC guy, I've got you covered. All right, I have a fellow on my team that owns a construction company. And for my clients, for my que UMB listeners, he is willing to let you pay half of the costs. If there's some kind of a construction need that you need to get done. That you want that you feel you need to get done before you sell, he'll let you go ahead and pay him half upfront. And then he'll take the other half out of escrow. Okay, so that's convenient for you, you know, so that way, you don't have to come out of your pocket with, you know, a ginormous amount of money. You can say, Okay, thank you for doing the work, I'll pay you the rest when the property sells out of my proceeds. Okay, so that's very convenient. So keep that in mind. I have a construction crew that will take care of you in that in that manner. Maybe you have pool issues. Listen, if your pools empty, and you you know, maybe you need to get a replastered you never got around to it, or whatever your pool issue is that you're like, I can't sell it because of that. No, no, no, listen, we can sell it, we just can't sell to FHA, conventional can still buy cash can still buy, and you know, so you still have buyers out there that can buy free from you. So don't count yourself out. Maybe you have air conditioning unit that's out, I don't know, whatever your issue is, I have you covered. Another thing that we can do is just sell it as is right now in this hot hot hot market. I'm able to sell many properties as is my last listing, we you know, we sold that as is and did not have a problem. It's very common right now, a lot of sellers know they have the upper hand I'm going to guide you and we can sell that property as is okay. So don't let that hinder you from listing your property and getting top dollar let me secure top dollar for you even selling it as is now obviously we'll discuss, you know the price point we want to put it out but because the market is so hot, listen, I'm gonna negotiate for you, and we're gonna get something that will make you very happy. Okay, so keep that in mind, I've got the handyman, I've got the, you know, air conditioning guy, I've got whatever you need. I even have a construction crew that can assist you, if that's what we need to do. But in many cases, you know, the flooring or something like that you're worried about the flooring, I've got a listing that's about to come up, that the client did their own floors, and she never finished. But that's okay, we can still go ahead and list that property. Okay, obviously, we can give the buyer a credit during, you know, through the escrow for the floors, if that's what you want to do. Or we can just maybe price the property just a little bit less, you know, compared to the comp, obviously, because our floors aren't completely done, but we can still list that property and secure a very, very, very good amount right now. Okay, so don't let that hold you back from listing with me. Okay. I'm here to guide you through the entire process. So once again, my name is Monique Buchanan. I am a local Las Vegas realtor here. And if you have thinking of you have been thinking about listing your property, maybe you're tired of having that rental, you're just over it and want to go ahead and get top dollar for it. You know, the market is hot, you're hearing everybody talk about it. Well guess what, guys? It's true. So you definitely want to go ahead and think about listing that property and not missing out on securing top dollar. Okay. So listen, if you're curious to know, hey, what is my home worth? I wonder what I could get for it. Now, you know, like, for instance, right now I'm sitting on over $200,000 in equity. If I were to sell my property, me and my husband would walk away with over $200,000 in equity. I know that because I comped the properties around my home. In other words, I seen what the other like homes are going for. Okay, so what do I mean by like Monique apples for apples and oranges for oranges. Obviously, if I have not updated my home since it was built in 2005 I cannot compare it to the home next door that sold same bedrooms, same square footage, but they totally remodeled it. Or but they gave it up, you know a total remodel in the kitchen. You know, I can't compare that when I have my old Spanish Tile. You know what I mean? My, my 90s tile, I can't compare it to the new gray flooring, which is what is the trendy thing going on right now? I can't compare my house to that I have to take off some I can't say that. Well, you know, Mr. Neighbor over there sold his you know, for I don't know 550? Okay, so I should get by 50? No, I shouldn't because I have not updated my home since 2005. So you've got to, you know, take all that in consideration. But anyways, so with that being said, I have comp my property, I know that I'm sitting on over $200,000 If I were to sell, and if you're curious to know, what what what is my home worth? If I decided to list with Monique? How much would I be able to possibly walk away with? Well, if you jump on my website, www dot welcome home with monique.com. At the very top of the menu, there is a tab, you know the menu tab and you'll hit sell. And right there, it's free. You just type in your address, and my system will start sending you all the information you need to know about your home how much you could possibly get if you decided to sell it, okay, so it's very, very good information. Plus, my website has so much on there, you'll have a great time on that website. You can search for homes, you can do all kinds of stuff. be nosy neighbor. But yeah, so there we are, guys, if you're tired of being a landlord, maybe that's your motivation that you want to sell. Maybe you want to sell and buy something else, you know, hey, the rates are expected to go up four times this year. So yeah, I hate to say but hurry up. Let me sell your property. And let's go ahead and secure you a newer, bigger home. Okay, we can do that, before these rates get just crazy. And what's funny, as you guys we say they're crazy. But back in the day, you know, it was very common to get a 9% rate we've just been so spoiled. For the last, you know, seven, eight years, we've been very spoiled. So and there's nothing wrong with that, right? Here's another reason maybe you've unfortunately, received a notice of default. You guys have heard now this is where my heart lies, you guys. I love listing homes that have the Notice of Defaults, just because I know that I'm helping them. I know that I'm helping people that get this notice of default, they don't know what to do, you know. And I'd hate to see the banks walk away with their money. So my heart is in that. So I'm here to help you if you have questions, you just don't know what to do. A lot of times, we can try to see if there's something that can be worked out. If not, it's better for me to just list the property. Let you walk away with something rather than nothing. After all those years of you paying into that property. It just doesn't make sense. So make sure you're paying attention like you guys have heard me say if you are in a position where unfortunately you've received a notice of default don't start avoiding the mailbox, because we need to make sure that that letter that comes with the date on it of the auction, we need to know what date that is. And that that way, if I do list your property, I know how much time I have to go ahead and hurry up and get it sold. But to be honest with you, I list on Monday and more than likely, depending on the price point, have it sold within a week or two. You know, that's just the market that we're in, you know, so I'm able to and then another thing is I have a very far reach. You guys have heard me talk about my team is 200 people strong nationwide. But what you don't know is my brokerage. My brokerage is 80,000 agents strong and we're in 18 countries. So when I have a million dollar listing, I'm able to, you know, syndicate that listing out to 80,000 agents, okay, in 18 countries. Now, not many agents can do that. But I do have the power to do that. Now I also have, like I said, my agents that are spread out across the nation. That's my, my personal little team that we have was not little 200 200 people, I guess it's not little right. But you guys call me and say, Hey, we have family over in New York, no problem. I've got them covered. North Carolina, no problem. I've got an agent there. You know, Idaho, I even haven't, I've got them everywhere. Seriously. So I'm able to like kind of keep an eye on the transaction, touch bases with the agent and see, you know, Hey, how are you taking care of my K, u and v listeners family member, because I want to make sure that they're being taken care of properly. And I'm able to do that because of my team. But also, whenever I have those really top dollar listings that you have, you know, very small pool of people that can afford, I'm able to stretch out and have that listing put in front of many top dollar millionaire agents that can put it in front of their clients as well, because we're 80,000 strong with my brokerage. So that's really unique, something very unique about when I'm listing properties that my brokerage provides to me as well. So now let's and let's talk about it. So now you're saying you know what, Monique, I think you're right, I need to hurry up and go ahead and sell this property before we really start to lose buyers, because I'm already seeing it kind of happen. Buyers are falling out of the game right now, because unfortunately, they're getting priced out. The rates go up, I've had two buyers say hey, Mo, the rate went up. And now we can't afford it any longer. It's unfortunate, but that's what's happening. That affects you if you're thinking of listing your property. So now you're thinking, okay, great. You know what, Monique, I am thinking about selling? What is the process? You know, how does this work? Well, first of all, as your agent, all the upfront marketing costs I take on, okay, I'm taking on custom design, flyers, Open House material, social media, marketing costs, you know, the radio marketing cost, professional photoshoots, staging, if necessary, and on and on and on. So all of that comes out of my pocket.

Unknown Speaker 17:53
Basically, your upfront costs as a seller, basically, is just the resale package and the demands. Monique, what is a resale packet and demand. If you live in an HOA community, by law, you have got to provide the buyer with the current HOA rules. Okay, that's the resale package, you also have to do or request the demand just saying, Hey, I'm selling the property. Let me know if there's anything that I owe. That's the demand. And so that I can go ahead and give this property, you know, sell this property to the new buyer, that typically runs around $500. Okay, so your upfront costs as a seller is around $500, on average for the resale package and demand. Okay, like I said, marketing and all that good stuff I'm taking care of out of the gate, before I even see a penny, okay, so out of the gate, nothing, I'm not charging you anything to comp your property. I'm not charging you anything to, you know, market your property, not charging you anything to negotiate the deal to navigate the deal. And on that note, you know what, let me just talk about negotiating, okay, that is key, you have got to have an agent that can negotiate the deal for you. You know, you cannot just, you know, receive offers, get excited off the first one that's, you know, kind of, you know, overlays or something and call it a day, your agent has got to be able to look through that contract. See what really matters, see what's actually being paid, and what's the bottom line and be able to go ahead and explain all that to the seller. Okay. You've got to know your contracts. And you also have to pick up the phone. A lot of agents don't pick up the phone, they just see a offer come through. They get excited. Okay, great. This is it. We're done. No, pick up the phone. I'm sure you guys have seen the show millionaire agents or whatever. You know, my favorite is in New York one. But it's so true. Great agents actually do that. So for instance, this last property that I just listed and sold, I was able to secure around $10,000 above you know, price. It wasn't just because it came over to me like that. I was able to pick up the phone and negotiate with each person that sent me an offer. I negotiated them up just like on the show, hey, are you able to get your buyer up? This, this this and that? Are you able to get your buyer up in this area, that area this, it works. So, you know, just put it like this, I'm not a lazy lazy agent. And I'm not saying that my colleagues are, you know, but hey, like in every single business, we always have folks that go above and beyond. That's all I'm saying. So anyways, with that being said, you know, I'm going to have your property, you know, brought up on the show, you know, 91.5 has 100,000 listeners, 100,000 listeners a week, okay, not many agents are able to say that they can get your property and talk about your property throughout the entire Las Vegas Valley as well as the nation. You know, and like I just mentioned before my reaches so far, if you have a property that is, you know, over, I don't know, 800,000, you know, it's you know that that takes a certain buyer. So you want to have an agent that has a reach and is able to get that property in front of the buyers that can actually afford it. But another thing, another thing that we do, so I make sure that when these these buyers send these offers over, I don't just look at it, I call the lenders, you know, I call the lenders because anybody can get a pre approval. I know the questions to validate that buyer, it makes sure that the lender is doing their job, and that they're, they're, you know, they're they've got the proper document that needs to be in, they've done what they need to do to make sure that this buyer actually has the funds to close this deal. Because you would not believe it's not hard to get a pre approval, you can get them over the phone without showing any documents. I know that might shock a lot of you guys but yes, you can. So you need to be able to determine if this buyer is actually a viable buyer. Okay, so you need an a realtor that is able to do that for you. Monique Buchanan, welcome home with Monique show. I'm the host and you are listening to me talk to my possible listing K, u and v listeners that are going to list their property. I'm just giving them the steps, what they can expect. That's what I do. I like to discuss everything, put you in the know and let you know what you can expect and get your property sold. Is that alright with you? All right. Okay, so let's talk about what all of you guys that are thinking about listing let's talk about that is BS fees, fees. Monique, what are the fees, I've already said that your upfront cost are typically around $500 Because you need to pay the resale package. If you live in HOA if you don't live in HOA then this does not apply. But typically it's around $500 for your resale package and your demand. Okay, you're gonna have about 1% out of your proceeds. Okay, this. So the cost that I'm about to explain right now, you do not pay this until you secure your front your funds from the sale of your property until I sell the property. And we're done. And you receive your proceeds. So in other words, if you're going to make 200,000, and proceeds from the sale, then this is when these fees will kick in and will apply. They're not upfront. So once you secure your 200,000, we're just going to pretend that you're selling your property, and many of you are sitting on about 200,000 or more possibly. So let's pretend that you are going to receive after I sell your property $200,000 You're gonna have escrow fees, okay? That's typically about 1% or less. So if you're selling a $500,000 house, that's going to be around $5,000 or less. Does that make sense? Okay, great. So you've got those fees. We've already talked about your HOA, broker's fees, I pay those but those is a call to broker transaction fee. Okay, I pay that on behalf of my seller out of my commission. Alrighty. Those are anywhere from 395 to $1,000. Just depending on what brokerage, okay, but I personally pay that out of my commission for my sellers. So there you go. You're welcome. Also, here's, here's my favorite one. Well, Monique, how does it you know, how does it work? Well, when you were the buyer, you did not pay your Realtor at all. You guys hear me always say, Hey, I don't charge you a penny representing you as a buyer. Buyer representation is free, at least in my case. Okay. So you don't pay anything. And the reason being, is listen, the sellers pay both agents. Well, now you're on the other side of that coin. Okay, now you're the seller. So now you pay what's called a success fee. And the reason I call it a success fee, because you don't pay it unless I have successfully sold your property and got that $200,000 in equity for you. All right. So that success fee, basically is the listing agent, myself, my commission as well as the buyer's agents commission. Okay, so Those are the fees that you will pay as a seller. And if you are one of my K, u and v listeners, I am going to be giving you a K u and v discount. Listen right now, if you're thinking about listing your property, I am going to be contributing or you know, discounting, I should say $2,000 off of the listing costs. All right. So that's quite a bit of money savings into your pocket because we are family KUB family, we got to stick together. So listen, let's just recap the show. If you just join me I have been talking about it is time to list list. rates are rising, that equals less buyers fighting for your home. So depending on the price point that I list your property for a lot of buyers that are basically if your price point is 500,000 or less, a lot of these buyers just had a recent rate hike. Okay. And what does that mean? That means that like I gave the example earlier, in January, the rates were at around two to 3% $500,000 house was gonna cost that buyer $2,500 a month. Now today we're at five and 6%. That same $500,000 house is going to cost that buyer $3,400. So now you can see, that's almost that's basically $1,000 difference in three months. So a lot of unfortunately, a lot of buyers are falling out of the market, you guys, it's happening all over the place. My title companies are calling me, Monique, we've got so many cancellations. You know a lot of people are falling out because the rates went up on them. And in many cases, they don't lock that rate until they get the home. Well now that they finally you know, got the home, the rate went up. They can't afford it anymore. So as a person thinking of listing their property, this matters to you. You want to strike while the iron is hot. I'm here to help. Monique Buchanan. Welcome home with Monique show. Listen, I once again want to give out a birthday shout out to miss Carla Happy Birthday sweetheart. Kevin, love you. That's my producer. And he's gonna be celebrating his birthday tomorrow. I will be celebrating my birthday Thursday. Okay, and I definitely want to give a shout out to my KU MB listener and my seller Mr. Arthur, what an amazing man this is I'm telling you I get a you know whenever I get a chance to meet one of you guys.

Unknown Speaker 27:23
I just love it. I love it. I've got the bruisers that I met. They're just wonderful people. Mr. Arthur is awesome. I've met quite a few of you of course. So I love you all. Don't get mad at me if I don't name them all off. But I love all y'all. But anyways, thank you so much for trusting me with the listing of your property. Mr. Arthur, we're in escrow and he is getting over well over his list price. Hey, negotiations that matters. So listen, you guys have a beautiful, beautiful weekend. Love you. And we will talk soon, I hope all right. Bye bye

Unknown Speaker 28:12
thank you for listening. This is Monique Buchanan. My license number is S 1788 46 and I am part of EXP Realty Tune in next week.

Transcribed by https://otter.ai