What makes an Inside Real Estate episode so popular? From views, likes, engagement, and traffic, these episodes made the Top Ten list for 2020.
#10 – Marc Summers, AIME
Episode Highlight:
“40… we have over 40,000 signed up with us right now. Now with that being said, it blew up fast. And you know, the thing about what we do is, for the first time in the history of mortgages, basically, I mean, let’s just be honest here, there’s, there’s a, there’s a divide here, and you have the big bank, what we call retail, then you have the broker side, and we are strictly for the broker side period. If you sign up with us, we make sure we do background checks, basically not full-blown, but we make sure that you’re part of the broker community. And it’s just a clear, concise message of what we’re trying to do. We’re trying to take this broker community that before the collapse, you know, was probably 70 80% of the total market. Now we’re probably around 20%, and our whole goal is to get that up to 25-30-35-40% as fast as we can.” – Marc Summers
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#9 – Zack Jones, The Mark Z Team
Episode Highlight:
“We listed one last Friday in Redford for $139,900 and we thought the price should have been like $135K so we told our client “Hey, we’re super close we’ll try but then at the end of the day, we got an appraisal you can sell your house for a million bucks… it’s going to appraise for this much. So we ended up getting 21 offers on this house over the weekend. And that was only Saturday and Sunday showings… just absolutely ridiculous. We did see buyers waive their appraisals which I’m assuming their first-time buyers or someone could have been looking at it for a rental property. One that we had which had no appraisal guarantee it was like $160K–just $160,000 straight up in appraisal, inspection–all that good stuff, which we know is not going to happen. But that’s that person that needs a house will do whatever the hell they can to get a house.” – Zack Jones
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#8 – Mat Ishbia, United Wholesale Mortgage
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#7 – Renee Lossia Acho, Keller Williams Domain
Episode Highlight:
“So a lot of people are recycling the space they have, and staying put. And a lot of, what has also been not great, is I think that we’ve been hit. I think that some of the service industries, you know, restaurant owners, bartenders, salons, people who maybe don’t have the disposable income to go, and we’re putting, you know, even smaller shop owners and small business owners, who don’t have the money necessarily to make that jump anymore to the next level, they’re staying put in their price point of their home, and then that’s not opening up inventory -that’s then moving up and up and up the chain. So you have sort of an odd like almost bottleneck in inventory where it’s– people aren’t necessarily freeing up the homes that they have.” – Renee Lossia Acho
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#6 – Omega Lending Group, Refinance Q&A
Episode Highlight:
“In the past loan officers would get paid for giving you a higher rate. Because they could make what’s called yield spread. So if like, let’s say the base rate was 3% and as a loan officer, I gave you three and a quarter, but that difference in rate paid us back, as a company, let’s say $3,000. Well in the past a loan officer could keep that money as what’s called premium. And they were incentivized, basically, to give higher rates. That changed- that changed back in 2009. Loan officers do not get paid more or less, If they give you a higher or lower rate. There is no incentive for a loan officer to charge you more. Now there are incentives or certain companies because they can make more money. So from a company to company standpoint, yes, there you will see some variations on what they decide what their margins are. But the reality is that the loan officer does not get to choose what they get paid on that deal whether they give you the lower rate or the higher rate, so they’re not incentivized to give you a higher rate. They want to get the deal period. So if you’re shopping for a mortgage, don’t think that the loan officer is in any way, shape or form incentivized to give you a higher rate. They don’t, it’s illegal to do that. Same with points. Points don’t go to the loan officer either. Points or what that rate costs to get for you. It doesn’t go to the loan officer.” – Omega Lending
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#5 – Mark Shaftner, Keller Williams
Episode Highlight:
“April 2020 versus April 2019, the number of new listings in April of 2019 was 2584. The number of new listings in April of 2020, 692 so that is .73% so you’re talking, you’re talking 27% of the same type of action in that and that side of it. That’s the inventory shortage that we have right now. That’s crazy, what area is that? I should say I should specify that is just Oakland County.” – Mark Shaftner
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#4 – Joe and Jon Angell, Angell and Company
Episode Highlight:
“Two weeks from today, the new tax deadline July 15th, 2019 taxes are due, both federal and state, and then first and second quarterlies 2020. This is new for everyone. If things aren’t getting back to normal here, they have in their back pocket another stimulus act that they could throw in there… talking about a second round of PPP funds. I mean, they’re talking about it again, it’s all speculation but I wouldn’t be shocked to see something else come out. You know, they’re just… I think they have to do something. I think they have to make it easier for more people to get it. I think those income limits of 75 to 100 for single and 150 to 200 for married was just cutting out too many people.” – Joe and Jon Angell
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#3 – Christian Grothe, Max Brook Realtors
Episode Highlight:
“I think what’s so interesting out there even on the agent side, I can name so many agents that are spending thousands and thousands of dollars a month on Zillow and on all these platforms that are going to get them leads. But when the phone rings, they don’t actually answer. When they sign up the, you know, when they sign up the listing, the client doesn’t really get service and they, you know, if the house doesn’t sell in the first 90 days, they’re probably gonna have listed with someone else. I think there’s quite a few of those agents out there. But I think people like that also give people that are really serious about their business the opportunity to capture some of those leads, because a lot of times they are they’re not happy with who they’re working with. And I think once they, I see, the other side of the, of the equation, that they’re actually impressed with what’s out there in the industry, even if they’ve had a bad experience previously.” – Christian Grothe
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#2 – Barry Habib, MBS Highway
Episode Highlight:
“APR is stupid. Because APR, it assumes that you will be in the home for all 30 years, it assumes you’ll never make a prepayment, and it assumes the rate of inflation will be zero for 30 years, which has never happened – never will happen. The chances of you being in the same home with the same mortgage for 30 years, that’s a needle in a haystack. Think about it in your lifetime. Have you ever met… all the people you’ve met in your lifetime? Have you ever heard of or met somebody who’s had the same mortgage, for the same time with the same loan for 30 years? Hasn’t moved, and hasn’t refinanced for 30 years? Does anybody even know anybody like that? Okay, so what we’re saying is APR is wrong. The only way to correctly, and APR there’s so much emphasis on it and so asinine. There is never-ever-ever been a correct APR that has been disclosed.” – Barry Habib
Full Episode:
#1 – Mat Ishbia, United Wholesale Mortgage
Episode Highlight:
“Yeah, I mean, the Conquest Program was all about this, you know, simple. If you look back when we rolled out May 12, if you look at May 11, people were not talking about 30 year fixed in the twos, no one was doing them. I mean, I even really think that, if you look it up, it was I think it was Jay Farner. Maybe someone one of those guys said, rates will never go below 3%. They have a big publication time. But the reality is, that’s not true. Rates should have been lower, and they are lower right now. And so we’re proud to be able to be the first ones that can’t say, “Hey, listen, 30 are fixed in the twos. That’s the game. Let’s roll this thing out.” We came out with it. And we basically said, Hey, brokers, partners, go get new business. Of course, you can refinance your past clients, and we’ll do those loans. But if you want to allow a client and have them to be your partner for life, whether it’s a realtor or borrower, give them a 30 year fixed in the twos and close it in 15 days, 20 days, 22 days, wow them and if you do that great experience with UWM what’s gonna happen is you’re going to get referrals and grow?” – Mat Ishbia
