Sign Nevada Banking Moving Checklist Later

Industry sign banking nevada moving checklist later

[Music] real estate show i'm your host willie morales and on today's show i have molly humble which is the best name in real estate ever i love your name thank you you'll never forget it definitely i see one of the top las vegas real estate agents with simmons custom fit real estate group molly thank you so much for being on paid up here how are you thank you i'm doing well how are you i'm good i'm good so molly one of the things i love to ask uh any guest of mine were you always entrepreneurial was this something that you wanted to get into as a young lady uh growing up in uh in las vegas if you're a native from vegas i i am a native from vegas you know i actually came from no money uh we really didn't have money growing up or businesses anything like that but for me i always knew i didn't want to have my own business that i did want to have more than what my family had so that i could leave more for my future children so yes in a sense i've always had an entrepreneurial spirit and i um you know and i went through some different businesses leading me to real estate and i'm so glad that i finally took the plunge because you and i both know that being an entrepreneur is uh it's a big risk so i'm gonna definitely yeah happy that i'm here now so what made you get into real estate what was it about that field that that that sector of businesses uh you chose i think the common answer and it's part of my answer too is really that i just love real estate i love home since i was young like i love touring i enjoy real estate from design um to the actual you know buying and selling process but really what got me into it is i'm a big problem solver and i feel like with real estate there is so many issues that can come up in there because it's so emotional it deals with everything your your finances your family like all these things that a normal kind of business transaction wouldn't necessarily touch i get to touch on and so i feel like i have those inter personal skills um and i really just want to be able to solve problems for people for the biggest purchase of their life no definitely that's one thing when you're picking a home uh you're putting all your soul into it and you can imagine because you're doing it all the time i mean i was a real estate agent for like 10 minutes back in 2008 and molly and i give you credit because it's a young person's game at the time i did i was in my 40s so i'm dating myself but um i i think for someone like you that that it's all in it's perfect so what was your mindset before you got into real estate like did you did you have your ups and downs like you said you came from a poor background but before you got into real estate did you what was it your your mindset like that made you like that drive that you had so i i actually broke up with a boyfriend i was living in arizona at the time just for a year and decided to come back home and actually become a cocktail waitress in a nightclub because that's everyone in vegas knows that's the way to make money it's a six-figure job working three nights a week you know and you meet a lot of people and so that was kind of you know i had to transition to that because i knew i wanted to get into real estate but what a lot of people don't understand is you need about six months of money in the bank account to really just go full force and real estate and for lack of a better word not be half ass on it you know because if you have two jobs like there's just no way really for you to focus on your clients and focus on a transaction when you're you know busy bartending all day or whatever the case is so um you know that's i kind of had to prep and prepare myself to get to this point um i just thought of like ten different things that one so what was the question again the original question what was your mindset uh that made you what was that what was that drive that you had well i just really knew that one i didn't want to be a cocktail waitress forever i had to put a time frame on that two and a half to three years i left it two and a half years and just hit the ground running but i really got in that industry just to save money so that's where my mind was from there to here is just knowing that i wanted to service clients and do the best possible job with the biggest purchase of their life and so i set myself up to be able to be comfortable and not be worried about the commission in the dollar signs because it's so much more than that you know well you were smart enough though to think about that you need at least six months worth of reserves let's say um to getting into a commission driven business and i had to do that you know i had to at that time i had to tap into my uh 401k which i didn't mind and it did help me but the thing is molly when i got in in 2008 a couple of months later the market crashed so i'm like oh yeah you didn't get in any good time definitely not but it was a good learning experience so how is the las vegas market currently like are you seeing uh is it a buyer's market sellers market or right at the middle we're we're definitely a seller's market as most uh states are nationwide um it's really just a lack of inventory so very low inventory drives up the prices we have 60 less inventory than we did the same time last year that's a lot you know so right now ball is in the seller's core and so it's crazy this is turning into california market we have everyone from new york and california coming here paying cash paying over appraisal and it's wild so there's homes move-in-ready homes are getting seven to 32 offers in two days like it's insane they're getting cash they're getting over appraisal so definitely a seller's market currently but for the buyers it's actually a really great buyer's market because the interest rates are so low so buyers are still capitalizing on those extremely low interest rates um and you know in 08 the market was just as healthy but the price the interest rates are twice as much there was six seven percent you know hovering at three so it's just a really good time for both obviously um for investors my team and i we actually invested ourselves we just finished a flip um there is still homes to be found here and there but it's obviously not an investor's market that's okay yeah because i definitely want to segue into that later so like for you how do you how do you uh how do your clients contact you especially you know like do you use a lot of social media because i definitely want to talk about that but how do your clients contact you like what's the best way for them to reach you especially if it's a you know like you said it's a seller's market right now or whatever it could be how do they reach out to you so there's a few different ways i mean most of my most my clients now that i've been in the business a couple years are coming from referrals which is incredible you know um but also a lot on social media surprisingly so i do a lot more on instagram than i do on facebook i had to like get a new facebook uh just for real estate because i stopped using it back in college um and so i've honestly gotten more clients from instagram and it's funny because at first when people message you you're like okay you're just full of it like you know and everyone's like i want to buy this house and i have this much money and you're like all right like it's in the pudding and then all of a sudden they're like getting approved with my lender and we're moving forward so i like to give everyone the benefit of the doubt you know because i have had those occasional people that are just trying to flirt or do something like that and pretending to buy houses but um you know social media has been huge for us and then referrals as well um and then um honestly like i have a website that sometimes people go on to do a legion site and that's where i get a lot of a lot of clients as well so oh that's good okay so um let's let's do this for a buyer um they're looking for a home what what is the criteria that you look for in a buyer like do they ask for let's say they're looking for 3-2 or 4-2 400-500 000 what's the next thing that uh you need from them so i think the number one thing um that any buyer will need to have in this market is a pre-approval so if someone doesn't have that already then i set them up with my lender um just because it's someone i trust i don't get anything from him but he does an amazing job so getting that pre-approval first um because some people are maybe entrepreneurs and they make plenty of money but then they don't claim it on their taxes or whatever the case is so that pre-approval really is the first first step so i need all buyers to have that because we can't even think about think begin thinking about looking if we don't even have that because if you run into a property you want we can't make an offer without a pre-approval you know they're not even going to look at our offer when there's 10 other offers cash pre-approvals all that so first very very first step of the buying process and for a seller um what do you look for in in their criteria or your criteria basically because you you're the one that's gonna market the property you're gonna you're gonna be the one that's gonna talk to your clients so what do you look for in a seller's uh criteria so you know there's a few things for a seller i think a big thing for a seller and even a buyer is mindset really first and foremost because some people um are very stuck on a number maybe an overpriced number or whatever it is and that's all they want and they're not really interested in selling their home when you're truly interested in selling your home there's a goal there's a reason you want to make this money you want to get to this family member in another state whatever the case is so it's kind of a mindset first uh first and then with our team we actually do this program called update before you list so we actually put our own money into a house to update it to sell it for more money in the shortest amount of time and so sometimes that's what i like to look for in a seller because unlike a average real estate agent you know that can just write a contract unlock a door we can actually do more for you we can make your house move and ready um and so these are some little criteria's i like to look for that you you have to have because ultimately first if their mindset's not there then you're never going to sell the house because every offer is going to have an issue you know they're not going to be happy with it so um mindset first and then if we can help them with that program or whatever it may be but initially mine's not well you definitely beat me to the question because i wanted to talk about your uh you know your uh update before you sell program but you know you just mentioned something and so how do you deal with clients that are asking to sell a property that they they overvalued so in other words you you see your comps are again i'm throwing numbers 450 to the average but now they want 550 because you know they upgraded themselves they added a pool or they added you know uh a mother-in-law room or something how do you deal with clients like that it's tough how do you bring them back down to earth right i mean the thing is is there's some clients who are willing to hear it and then there's other clients who are not willing to hear it and with those clients who aren't willing to hear that what you got to do is put it on the market and the market will tell them so i can think your house is worth one thing you can think it's another but the market will tell us so if it sits there for three weeks and if we have no showings or we have 50 showings and zero offers then there's an issue and it's usually a price issue if it's not you know something blatant with the actual home um and so to bring them down to earth i've had to teach lessons sometimes like okay that's what you think it is because customer's always right you're not going to sit there and argue so uh you know if that's what you think it is let's start on the market oh you got 50 showings no offers well the market told us what they're willing to pay and they're not willing to pay what you want them to you know and so then then that's when that conversation has to happen when it's with someone more realistic um i think it's a lot easier to kind of get them closer to that price point but right now in the seller's market it's kind of the wild west so i don't mind just throwing it up there and a cash buyer from california swoops in and wants to pay 50 000 over you know list price because that's what happened to me even last year honestly i listed at home probably like 30 40 40 000 over anything that neighbor had seen because it was fully renovated and i had a canadian cash buyer come in and scoop it up no appraisal no nothing so it was just it's a chance that you have to take and i think that i think the biggest issue is kind of a lot of sellers think that's going to happen with them every single one thinks this mysterious mythical unicorn from you know california new york is going to swoop in and buy their property and some do and a lot don't so and that's their wake-up call and that's a wake-up call for them yeah and that's i love how you said it yeah and it's and it's my job to set realistic expectations so like i said there's some people that want to hear and some people that don't you just got to let them learn their lessons the hard way yeah yeah we're talking about molly humble again the best name in real estate ever are um do you work with single and multi-family homes or is just mostly single or whatever you get you work with whatever i get i work with i have someone for a commercial that i i send out um but i haven't thinking about getting my commercial license as of late uh just to be able to do that side as well um mostly single family i've done um multi-family a couple times actually for investor friends um but other than that i actually really enjoy the experience of selling a single-family home to just a family like it's such an emotional experience and i can really uh appreciate that for them you know because everyone's in just such different walks of life that it it gives me like great joy and i feel very valuable helping people in that way so no definitely i mean when i did it i was more in rentals uh in the city i'm in the middle of the city in new york so um when i got someone a rental that was you know and they love the apartment oh my god i love it i want to take it that was a great feeling even though unfortunately like i said two months later the market went whoop but yeah it was a learning experience um for are there programs for buyers if you have you dealt with buyers that might not have the 20 down are there programs for them in in vegas yeah yeah can you talk about that a little bit more sure yeah so um i think a common misconception is that 20 is what you need to uh put down in order to purchase house and that's not the case um you can put as low as three percent down three or five percent um as well as there's a few programs and i know um you know legally i'm not a lender so don't you you know we won't run from that word but we do have a homeless possible program and that's actually a nationwide program it's a government-funded program that basically gives a buyer their down payment and so i actually helped a client do this with a new build property and the great thing was was the new build since they used their lender covered the closing costs and then the home as possible covered their down payments so they got into a house for like a couple hundred dollars a 350 house so it's totally possible yes you have to have decent credit you can't be in the you know 400 500 um but nothing nothing extraordinary honestly and i think there's a couple caveats to that um i believe you can't move out of the house for or sell it for you know three years or five years something really minimal or you have to pay back the money you know and you're like yeah you're a slightly higher interest rate but nothing um substantial honestly it's worth it if you don't have the money truly so wow that's amazing that you guys got programs like that i mean because i know we have fha and all that but obviously i'm assuming is the s me in your area um getting back to social media um you got word of mouth you got your website but how important is social media to your business at especially now in the in 2021 are we talking tic tac instagram i mean my god i can't keep up i would i would love to say i'm good at tick tock because i think it's so fun um but honestly i i had a baby last year seven eight months ago now and so congratulations thank you a lot of focusing on her and working my business and you know i didn't really go i for like a year now i've been talking about like okay i need to do more professional videos because i do a lot of just like hey this is your favorite realtor humble home tours and people love it they love like the raw quick whenever i'm in my gym clothes no big deal right um but actually tomorrow i'm filming a professional video on our uh flip that we just did because i do want to have some professionals in between so you don't just think of this you know girl with my iphone all the time but um definitely trying to get more into video video is the future they've been saying it for years there's studies done on it so trying to do more and more videos um i know one realtor shannon gillette in um arizona who literally only does videos on her instagram and facebook she does professional videos and that is how she's gotten millions of dollars in business and she really doesn't do a lot of anything extra it's literally just those professional videos so it's it's a huge testament to just videos doing them so that's kind of the future of my business of custom fit as we're just trying to do a lot more and kind of have systems in place so that we can do them for every single house okay no listen i you're the second person that told me i interviewed a gentleman a year ago i think it's named bill cruz or something like that he was talking about like if you want to contact your client or like me my my niche is trying to contact uh owners do leaf purchases uh for sale by owners and send them a video two minute video one minute video hey my name is william i do this abc and all that that's amazing that you mentioned that yeah it's so much better than oh sorry to cut you off no no it's so much it's so much better honestly it's not face to face because you have a cold call right and you're sitting there and they don't know who's behind the phone or whatever the case is and then when you after you're done with that phone call whether it goes good or bad i always like to send a video and say hey it was so nice speaking with you i look forward to meeting you oh i look forward to uh helping you out in the future and that way they get a face to the name also when someone starts ghosting me i'm like hey james what's going on i haven't seen you for a while just thinking about you and then they feel like they need to respond because they just saw me talk to them and now they have to you know that is so cool i like that yeah i love that you know what's funny molly i i i when i send you know like uh absolutely hormone and letters i just i added now a picture of myself like you said at least this way they could see who the letter's from and i even just added my facebook business page yeah you know i didn't want to click well i don't have that but yeah but that's perfect they go oh god yeah yeah exactly um i i don't know if i mentioned this do you work with investors i know you do invest in yourself but do you work with investors and how is that because here in new york a lot of realtors do not want to deal with investors so how is that on your end be i totally understand that because i think some investors are they can be very uh unrealistic or just um greedy really you know and we we actually found an investor who was just no nonsense and very much like hey i put the money up you do the work we split a 50 50. like i trust you to do it not in our business i think a lot of investors want to be but this is our bread and butter this is what we do so we're out to make the money too we're gonna do the best job that we can you know um so we do have a couple people that we actually work with but overall it's not like we're just reaching out to investors and realistically there's not a lot of just properties of scoop up that are you know at a great price right now so it's kind of you know the last one we got it was like a friend of a friend someone died and it was just a hot mess of a property so we scooped it up you know right right yeah i know i can see i mean it's the same here in new york um you you know we have to go out of state to find deals right now exactly and plus you know in parts of vegas i'm pretty sure you got properties that look like phone numbers so you know and new york forget it i'm like well this is definitely not for me these are for the big boys um did did the pandemic affect business in any way for you guys and if it did what did you guys learn from it um initially when everything first shut down and it was kind of a huge you know it was just a big moment for everyone um yeah i had a couple listings but they only lasted for you know two weeks and then i was able to sell them it there was a dip because everyone just went into panic mode you know and everyone's like oh it's gonna crash everything's gonna crash but honestly and i already knew this when it first started it was more of an event-based recession kind of like 911. like we just did the dip and we came right back out of it stronger than ever and what people realized is they didn't want to be in their homes anymore they didn't have any amenities like this didn't have a pool or whatever so those people move people in california are like that's this i'm ready to move i want a house that's twice as nice for half the price you know half the taxes um and so honestly it's been better than ever um and i mean i think there's always a lesson to be learned but we just kept pushing forward as if nothing changed and kept reaching out and trying to bring value to people and ultimately if the market did go down we would ride that wave too and figure out how to navigate through there you know that's a that's great i mean because at the end of the day um it's all obviously it's all about customer service and what you do to help people buy and sell so and and i found more and more people were making tons of money because more and more people were getting online now instead of uh visiting they're like hey you know you do need virtual tours or you take a youtube video can you believe how many things we can do via zoom instead of in person all those office meetings all this stuff that we're running around town doing and now i can just zoom you incredible and and the thing is so i remind me to cut you off now you know and it's funny because i was going to start doing my podcast from the studio and then when the pandemic hit i'm like let me use zoom or if nobody wants to get recorded i can still you know maybe see you but i could just do audio and i'm like this is so simple i could do it on my phone which i didn't know at the time and besides my laptop and i'm like oh wow i could do it on my phone that's perfect i carry with me anytime i want you know they yeah oh sorry i know i was not able to say that i've actually you know i facetime properties a lot for clients who are outs um outside of outside of vegas and i actually did one right before this for someone in canada and it's just so common now it's not even weird like before it was kind of like okay yeah sure facetiming now it's like please i don't want to come i don't want to fly you know so it's like been even better and honestly a little easier to do business just filming everything you know no and it's funny because a year ago my birthday's in may and because you know the pandemic was just at the beginning rising i celebrated my birthday on zoo with about four or five good i know it's so weird i'm not used to going out and hanging out but here i am doing a zoom uh birthday call but anyway it is what it is um for reality right especially for you how did you land at keller williams and what did you see in them that made you want to get into that and then you formed your own group within keller williams right yeah okay yes so um actually i was living in arizona at the time when i first got my license so i moved out to scottsdale to open a crawfish seafood restaurant that i was working at and i ended up falling in love with arizona moved there got my real estate license and then almost immediately after decided to move back to vegas but one of my best friends one of my story sisters she is a top realtor in orange county for keller williams and she just recommended them to me i interviewed with them did some more research and just really found out that keller williams has more tools at our disposal than any brokerage in the world yeah really yeah really i mean even it's tech it's more of a technology company they have developed their own apps and systems and processes that um other realtors pay for through other you know sites or what have you so um it was incredible training free training classes every single day and and plus it's a globally known name and so that means something when you're coming in and saying hey i'm with keller williams instead of banana real estate you know so yeah that was that was really the driving force initially just because i was so new that i needed i needed that uh i needed that behind me you know i needed that name behind me so and then uh once i got to customer once i got to keller williams i met my partner colin simmons uh which he started custom fit a few years ago and we kind of just flourished from there we're building the team and um we really we're the only realtors in vegas that do this update before you list program and uh yeah talk about that please yeah yeah i did skip over but yeah talk about that i just wanted to touch base on some um with with the programs that they have like how often do you have to keep up with the new real estate laws because it seems like it changes like every other week or every other day yeah oh how often do you have to um do that so there we have continuing education so we call them cd we get there's ce credits we have to meet um every two years and there's just classes that you take and right now they're all of the exam which was great better than sitting in the classroom so we're doing those ce classes but also like keller williams will send out emails if anything changes like they're very they're the ones that um kind of keep us in the loop with everything that's changing as far as governmental stuff especially since covid and all that so yeah but we do have to take continue education and honestly i take classes sometimes even if i don't need the credits just because i want the information you know i need the information so i think that's the biggest uh part of i think taking classes and educating yourself is so that you can really truly bring value to your client you know anyone can write a contract anyone can unlock a door but how much value are you bringing your clients um you know if you're not doing research or really know what's going on in the market you know no definitely uh and before i let you go molly just a couple more things talk about the update before you sell program because that's very interesting when i read that from your profile yeah yeah yeah so that is our bread and butter and um you know i know other i've heard now that we've we've gotten so big that other people are starting to try to emulate it the only problem is is colin simmons my partner is a um general contractor and so everything he does he has a license he's licensed bonded and so insured and that's the biggest thing because if anything was to go wrong even from um conveying the property to the new owner it's like we're still covering that work whereas some other realtor that may have the cash to pay for it they might be hiring joe schmo off the street and that house is no longer ensured that work is no longer insured um and so what we do is we actually put our own money into so we take our money up front to update a client's property so that we can sell it for more money and obviously the shortest amount of time and so that that kind of process really rewind a lot of people are like well what's the catch what do you get out of it um you know we don't make any money off of the renovations itself we call we charge at cost for those renovations because the value that we get from being able to market that property post about it talk about it um show pictures on it gives us the potential of gaining more clients and so that's more valuable to us than making a thousand two thousand off of you know renovations so we'd rather charge you that cost and then yeah be able to blow it up and market it and that's what we do um and so really what that process looks like is you know we obviously run the comps in the neighborhood we know what's going on in the neighborhood and we know what design is in and so we're able to look at it and say you know what if we painted these cabinets changed the hard way to you know painted the house put new carpet in we could sell it for this much and basically what we tell clients is hey this much say ten thousand could yield you another fifty thousand isn't that worth it wow yeah and usually it usually is every time and we've done anywhere from two thousand dollars to thirty forty thousand dollars and really really yielded our clients the most and essentially the point of this program is that nobody can then come in and a buyer can't come in and be like oh you know what let's offer a little less because look at this or look at that kind of eliminate that so that we get full price if not more than full price offers and that's going to get you more and more clients because people are going to just talk about it hey these guys fix my property yeah i mean and they're smart and they do and that's and i think like every single time um initially people are always hesitant like what do you mean like i don't understand what are you getting from us and it's really just the potential of marketing of getting more clients because of what we're doing and really at the end of the day i'm here to sell your home not just list it and let it sit so i'm going to do everything in my power to make it marketable and interesting intriguing for buyers yeah i know that's again i think that's such a smart thing you guys are doing because word of mouth will just fly all over hey these guys will do this so molly just one thing first of all thank you so much for being on peter pan you are amazing um so what's next for you what's next for molly humble oh man i put you on there yeah i know so it's a great question because i've been thinking about it a lot lately um i mean really i'm working on getting more listings now that i have a baby girl it's it's so much harder to sustain so many buyers because i tend to have a lot of buyers and equal amount of listings but the listings you can have you can basically maintain 25 listings at once very easily whereas you could only maintain eight buyers at the most because running around doing all that is just really truly a lot of work so kind of working on the um working on that side working on more listings and also continuing to do our update for you list program and continuing to do um flips and then i just have been getting this itched about commercial and i don't really know why because that's something i've really kind of steered clear of but something is kind of telling me to do that so i don't know what it is so maybe talk to you in a year from now about that follow that good of you yeah yeah yeah yeah yeah okay i'm telling you something you should follow it um yeah i i like the fact that you you know you're always thinking ahead i love that because one if you stay uh complacent you know what happens somebody's gonna pass us so um any books you would like to recommend for new realtors or what if a realtor is looking to contact you and then they want to get education any books you would like to recommend especially for new realtors the first book that i ever read when i was in real estate is uh seven levels of communication and that kind of really obviously it's self-explanatory but it really tea hes you a lot about communication and kind of just really moving forward in your business taking the daily steps because in real estate you can easily sit at home all day and just wait for the phone to ring you know it's just there's no one monitoring you so you really have to learn to monitor yourself and really guide yourself to the right direction so that's the first one um i'm not a huge i wish i hate the way that sounds but i'm not a big reader i like audio books and i really like watching uh videos so i i watch a lot of like tom ferry videos and really just kind of every day even when i'm at the gym i just like what's his name tom ferry tom ferry yeah so i listen to a lot of tom ferry there's some other really great um uh like mega agents coaches things like that but i just i something with him resonates with me and he really just speaks to me so when he's talking when he's doing these videos i i listen to them i save them on youtube i'll listen to again because you will always get something else every time you listen to it you know so that's kind of really where i think a lot of your education should be it's free it's youtube it's completely free so watch it and learn especially if you don't have someone to mentor you or to learn from and and what was that first book seven levels of communication did i get that right seven levels yeah or yeah seven levels seven levels of communication yep perfect and where can people find you um so check me out on uh molly south vegas real estate molly sells vegas on facebook instagram or even on the custom fit website you can see me and a bunch of other agents as well on our team but i'm always happy to help and at the very least i like to impart my knowledge education um and what i always tell people clients potential clients is what's the worst that could happen talking to another educated realtor that you get more information different information you know and what's the best thing that could happen we could end up working together and form a lifelong relationship you know so um it's never never bad to get more information no matter if you're an agent buyer seller investor no sounds good and listen definitely follow your gut with the commercial i mean thank you i'll call you in a yeah i'll definitely follow up well anyway molly thank you so much for being on paid a peer real estate i really really appreciate it i appreciate it you have a great day and we'll talk soon yep sounds good thank you thank you well everyone that was molly humble and you can find there at mali.simplehomesearch.com that's molly.simplehomesearch.com molly thank you so much for being on pay-to-play real estate show really appreciate it you can find me at p2p realestate.com that's pm number two peerrealestate.com check out our past shows and check out our blog also if you go to apple podcast please subscribe we review tell us how we can make this show better and before i go guys there's a couple more things do not give up on your dreams fight for regard and protect it don't let anyone talk you out of it and i really believe if you keep the momentum going good things will happen on behalf of peer-to-peer real estate show i'm willie morales until next time thanks everybody have a great day and please stay safe bye