Why Honest Agents Win: The Power of Transparency in Real Estate With Fred Glick and René Pérez Jr. Of Arrivva

Here’s a glimpse of what you’ll learn: 

• Dive into the aftermath of the NAR lawsuit settlement as Fred and René explore the challenges realtors face in justifying fees and demonstrating value amidst heightened scrutiny
• Learn about the importance of transparency and proactive approaches for success in real estate
• From multiple inspections to leveraging third-party services like Inspectify, they unravel the complexities of real estate transactions
• Are you an outside agent seeking a fair and transparent approach to real estate? Join us at fairhousing.io
• Take notes as Fred and René discuss why they decline certain real estate listings
• Learn about the recent Department of Justice charges against individuals involved in mortgage fraud

In this episode with Fred Glick and René Pérez Jr.

Join Fred Glick and René Pérez Jr. of Arrivva as they delve into this insightful episode “Why Honest Agents Win: The Power of Transparency in Real Estate.” 

In this episode, they dissect the fallout from the NAR lawsuit settlement, exploring its impact on both new and established agents. From the pitfalls of scripted approaches to the benefits of upfront inspections and disclosures, Fred and René unravel the importance of transparency in building customer trust and negotiation success. Tune in and discover how fair and transparent practices are reshaping the very foundation of real estate.

EPISODE TRANSCRIPT

[00:00:00] Drew Thomas Hendricks: Another episode of We Fixed Real Estate. Today we’ve got Fred tuning in from Los Angeles and René from San Francisco, each with fly backgrounds on their screen. How’s it going, Fred?

[00:00:10] Fred Glick: Groovy, man. I’m in LA with, I didn’t fix this picture on purpose to give you the idea that it’s, there’s still a fog over Los Angeles. It’s always great up a little bit. You know?

[00:00:21] Drew Thomas Hendricks: It is so cold right now. I mean, it is. Yeah.

[00:00:24] Fred Glick: Yeah. You’re in San Diego.

[00:00:26] Drew Thomas Hendricks: May gray is here early in June bloom is on its way too.

[00:00:29] Fred Glick: I know, in April.

[00:00:32] Drew Thomas Hendricks: How about you, René? What’s the weather looking like in?

[00:00:35] René Pérez Jr.: Well, you know, I, I live in the foggiest part of San Francisco, so it’s actually pretty foggy today.

[00:00:41] Drew Thomas Hendricks: Yeah. 55 and onshore.

[00:00:46] Fred Glick: The sun’s come out here, but still 61 degrees with 12-mile-an-hour winds.

[00:00:50] Drew Thomas Hendricks: So. Broadcasting from Griffith Park.

[00:00:54] Fred Glick: Makes it annoying. Yeah, that’s exactly where this was taken from, Griffith Park.

[00:00:58] Drew Thomas Hendricks: Well, let’s see. This is not a weather show. This is a We fixed Real Estate show and there.

[00:01:03] Fred Glick: Oh really? We’re in California. We have to talk about the weather. Weather and traffic. We haven’t talked about the traffic yet.

[00:01:09] Drew Thomas Hendricks: Oh yeah. How’s the traffic? I can see

[00:01:11] Fred Glick: I take the two 10 to the 605 to the five to the 405. And then I turn around and kill myself. I mean, that’s it.

[00:01:18] Drew Thomas Hendricks: There’s –

[00:01:19] Fred Glick: That’s it. Yeah, that’s great.

[00:01:23] René Pérez Jr.: I think, you know, on a good day. So I’m talking about freeways. On a good day if you’re driving from San Francisco to San Jose, you can get there in 47 minutes. So,

[00:01:33] Fred Glick: It’s actually 280.

[00:01:35] René Pérez Jr.: Yeah, if you go to the 280. So that’s fantastic.

[00:01:39] Drew Thomas Hendricks: I think that is that’s a dream highway.

I mean, it’s got a little more backed up, but I remember 90s, man, it was

[00:01:45] Fred Glick: There’s like, you know, when you’re going north, trying to get off at Palo Alto at rush hour at the end of the day or in the morning, that’s a pain, but other than that, the 280 is pretty sweet. My favorite interstate in California.

[00:02:01] Drew Thomas Hendricks: The favor for tech billionaires to speed on. There’s all those Bill Gates and Steve Jobs racing down the highway.

[00:02:12] Fred Glick: To Woodside to your 8 million, you know, mansion or whatever.

[00:02:18] René Pérez Jr.:

[00:02:18] Drew Thomas Hendricks: So topic of the show is We Fixed Real Estate.

Well, many realtors are trying to figure out how to fix their situation now that this NAR lawsuit settlement’s coming and people are coming up with creative ways and scripts. What do you think, Fred?

[00:02:34] Fred Glick: Well, here’s the thing. We just laughed when this all happened because we’ve been charged with a fixed fee with people and it’s been fine. And now it’s like everybody’s trying to make a buck. Offer telling you what to do based on these lawsuits. So there’s this big thing in these real estate coaches that they, they tell people, you have to explain your value to the customer to justify your fee.

And the stuff that they say that’s value. If you think about it, I’ve heard some of these seminars and they’re just, it’s just bogus. It’s like, you know, we have extremely great experience. We have fabulous reviews and we charge a flat fee and we give things that no one else does. That’s our value. Our value is right on our website.

We post, you know what our fee is right on our website. You notice no one does that except for these discounters who are getting, you know, no service.

[00:03:40] René Pérez Jr.: I think we’re talking about the wrong topic here because look, I think a good agent should be able to talk about what value they provide and explain how they negotiate.

Like when you’re asked, like, “Oh, how do you negotiate?” We should be able to say, “We negotiate X, Y, Z,” which we do. Right? Oh, how do you know how competitive the house is going to be because that’s our job, right? Our job is to get houses, you know, for our buyers to be able to buy homes and for our sellers to be able to get the best price that they can.

So when they, when we say, how do we bring our value? Okay, well, we ourselves, we do the inspections ahead of time and we pay for them. Which is what we should do because we know exactly how to get better pricing for the inspections. We know how to get better inspection reports. You see a lot of, a lot of agents who have relationships with inspectors and they just get these crappy inspections with no pictures, with no annotations, with no warnings.

So you as a first-time homebuyer, you read this report and you’re like, “What do I do?” So then, so then you get some agents that say, “Well, I help you read reports.” Well, you wouldn’t have to help your buyers with the reports if you had great reports that had all the documentations with color coded that tells you exactly what to look for.

Right? And that’s what we do. It’s like because that’s why, like we ourselves, we’re not going to go line by line with the inspection report. Why? Because the inspectors themselves that we, that we use. And that we, I mean, we don’t force you to use them, but we do facilitate to use these inspectors, are tech-centric, progressive.

They are able to give you the best service ever. Now, the thing with the thing with all these services, with scripts and stuff, I think we’re forgetting about the people who get affected the most. I think it’s new agents. New agents don’t know how to speak to buyers, right?

They’ve never had a listing. So, they do need someone to coach them. But what happens all these, all these ridiculous coaches and gurus, they just feed off new agents and they charge them 500 bucks. And then these agents, you know, they’re losing money because they don’t have any deals. And then it’s just, it’s just again, and again, a cycle of getting new agents to buy these scripts because at the end of the day, it’s the new agents that are getting screwed.

Right. Did the professionals that know how to get listings and then have a huge network, they’re not buying these scripts. It’s just new agents that don’t have any business. And that’s who’s getting affected the most.

[00:06:06] Fred Glick: There’s really two, two things. It’s the new agents and the old agents doing it the old way, who have lots of customers they’ve had over the years.

And, you know, people just call them up, say, “Hey, Susie, this, my house, cause you sold me the house 30 years ago.” But I think the sellers. A lot of them don’t even bother investigating newer types of ways to do things. Let me give you an example. In Los Angeles, when we see most of these listed properties, they have no disclosures, no inspections, nothing.

They don’t tell us anything, and the idea is, “Hey, you put your offer in, and then we’ll give it to you. If you don’t like it, you can get out of it.” Whereas in Northern California, most of them have all the inspections and the disclosures done, and they’re fully transparent. So if you’re listing a house in Los Angeles and you’re not giving out all of this information, you’re kind of screwing yourself because you’re going to negotiate twice.

You’re going to negotiate, you’re going to think you get a great price. Then somebody does inspections and looks at disclosures and comes up with 20 things that were completely wrong that could have been addressed beforehand. And now they want to renegotiate, you know, 50, 000 lower in price. And people don’t even know that you can do it up front. So, you know.

[00:07:22] René Pérez Jr.: I think that part, people are lied to because people, the script, okay, the let me talk about the script that people use to not get inspections done ahead of time. The agents will say, “Oh, we don’t want to do them ahead of time because buyers, you know, they don’t trust the inspection. So they’re going to get their own. So we’re wasting our money.”

You don’t know that. And you know what, you know, if I have two options, if I have the option to on one side, you know, get some buyers who are not going to question us and uses the inspections and then have a second branch of customers who aren’t trustworthy and get the inspections. So be it, right? At least we helped on one side of the customer angle, not have to question us.

[00:08:08] Fred Glick: Yeah. And also, you know, what’s wrong with the place? If there’s something major, you can fix it. Before it goes to market, you know if afterwards, who knows, that’s the problem also.

[00:08:20] René Pérez Jr.: So I think it’s just a matter of like, it’s better to do it because then you are being proactive, and being proactive is always better than being reactive.

It’s just common sense.

[00:08:29] Fred Glick: Transparency.

[00:08:31] René Pérez Jr.: Yeah.

[00:08:32] Drew Thomas Hendricks: So getting inspections done before. Is it common to have buyers get a secondary inspection?

[00:08:38] René Pérez Jr.: Well, I mean, I think if I’m buying out right if I’m doing it myself. Look, I’m going to look at the reports but I’m going to get maybe an ancillary report that shows a little bit deeper more on the soil, right? Or maybe the foundation. Right? Because

[00:08:54] Fred Glick: If there’s something wrong.

[00:08:56] René Pérez Jr.: For sure. Yeah. Yeah. It just depends on the type of buyer that you are. And if you just want to be a little bit more specific, and more, I mean, I don’t know.

[00:09:06] Fred Glick: Well, here’s the other thing. Remember, number one, all these inspectors are licensed.

Okay, so, and they’re peer and they’re reviewed. So yeah, there’s going to be a bad inspection here and there. But there’s some agents I’ve had, where they want to get their inspection anyway, because they want their inspector to look at the property, you know, they think they’re doing some great thing for the buyer and they put an inspection clause, you know. But if you have a multiple bid situation and the inspections are done, there’s no way they’re taking the house off the market for another inspection. So be aware of that as a buyer that you got to be, you’re going to waive the inspection like everybody else is on a house that’s had any inspections done.

So if you have any real questions, what we tell our buyers is, “Look, we’re going to give you the inspection, take a look at it. Yes. If you need help, we’re here, but you know, if you have a specific question about something, call the inspector.” And I think only once an inspector wouldn’t talk to somebody. But other than that,

[00:10:10] René Pérez Jr.: I mean, sometimes you get the inspectors, obviously they have a contract with the sellers or with other parties. So they have to get permission to allow the buyers to describe or explain the inspection a little bit more.

Now, I think that the even better than inspections is give a contractor the actual inspection report and say, “Hey, can we go through the house? And see how much it would cost to fix these items.” Right? Or a contractor that does all these remodeling, that does all these fixes. Go take a look at the house and see what’s wrong with the house. That’s gonna be better and more important.

[00:10:43] Fred Glick: Yeah. And by the way, the inspection, not inspection company, we’re talking about, it’s called Inspectify, inspectify.com.

They’re an aggregator of inspectors. And they pull in home inspectors termite. Sewer video, roof, whatever you need, and they’re able to coordinate times. But the cool thing that they do is 20, usually 24 hours after they get the inspection, they’ll send us a document that list all the problems that are on there.

And when they can, they show you approximately what it should cost to fix. And that’s based on the location you’re in. Cause it obviously costs more to repair something in California than it does in Wyoming. So that’s good for being able to negotiate with a seller to say, look, we want 5, 000 and here’s why.

And that’s a great thing that you don’t get from normal inspectors. It helps you negotiate because it’s based on reality and it’s available pretty quickly too.

[00:11:48] Drew Thomas Hendricks: So at Arrivva, Inspectify is what you guys use. It’s a third party.

[00:11:54] Fred Glick: Yeah. It’s a third-party company. We have no affiliation, money from them, nothing, but we just love what they do. And it’s a another piece of technology that’s helping our buyers and sellers out.

Cause they’re going to do the same thing on a listing that we have. They’re going to give us the list of stuff and what it’s going to cost. So a seller could look at it and say, “Hey, yeah, it’s only 5, 000. Let’s just do it all.” And then we update the inspection and says, “Yeah, it’s done.” And then we give out an inspection report. It’s completely clean.

[00:12:22] Drew Thomas Hendricks: Yeah. To circle back, though, to the original, kind of the original thing we were talking about is these real estate marketing companies are coming up with, like, scripts to prove your value. And it’s all based on knowledge and stuff. What I’m hearing from you guys is that you don’t need a script because you’re giving them a tangible thing.

This is the value that we provide. Inspections, transparent fees. Everything is, everything’s out there and you’re, that’s your value. You don’t need a, you don’t need a fancy script to convey that.

[00:12:56] Fred Glick: No. And, you know, I think all these scripts that these people have is so they can compete with their peers meaning the 2.5 to 3 percent people or, you know, why you should pay me 2.5 percent to be your buyer broker because I bring all this blah, blah, blah.

But again, we publish our prices, you know, what our prices are and you can see our value. Just go into the website.

[00:13:21] René Pérez Jr.: I think at the end of the day, there are agents that should be paid more than others, right? I think that’s just easy to just say, or there’s some agents that I think, I think in a beautiful world, it’s like when lawyers, right?

Like when lawyers get their their law degree and they pass a bar, they don’t just have a firm and they can make billions of dollars, right? They go through the motions, especially if they go through a big company, right? Like they’re a, they’re an assistant associate and they go up the ranks. Now they have more experience, they charge them more.

That’s how things. Should be a little bit more. Not you get the license and you get to get paid so much money.

[00:13:55] Fred Glick: Yeah, I mean, just to mention that we’ve put up a website and I put out some -. I really haven’t pushed it. But if you’re an outside agent who would want to join us, we have a separate URL called fairhousing.io. And I’ve described what we do for agents and even great for an agent who’s just brand new because the best thing you do as agents is just go out and solicit people and market yourself and find buyers and sellers. So what we do is we take care of everything else. And we do all the backend stuff so that you don’t have to worry about doing all the forms.

So you can go and do whatever. But the other thing I do is I set a fixed price for the agents to pay per deal, and I tell them, go out and set your price and you can set it as a fixed fee, as a percentage, hourly, however you want to charge people, but charge them based on who you are, what you are.

You know, if you’re a brand new agent, you’re not going to make 3%. Whereas if you go to a, you know, Keller Williams and interview there, the first thing out of their mouth is how much money you can make. That’s the last thing out of my mouth. It’s like, how good of an agent can we make you? And how efficient can you be?

And we’ll let you do what you want to do. So, if you’re in California, Washington, Pennsylvania, come talk to us. Texas we got a problem with because you got to be a realtor and we’re not doing realtors down there, so that’s cool.

[00:15:32] Drew Thomas Hendricks: Okay. You have to be a realtor in Texas?

[00:15:37] Fred Glick: Kind of for right now, but it’s because of the MLS, but that’ll change.

[00:15:42] Drew Thomas Hendricks: Oh, that’s right. You did explain that.

[00:15:44] Fred Glick: Yeah. Anybody really wants to know about all this ping me.

[00:15:52] Drew Thomas Hendricks: Very interesting.

[00:15:53] Fred Glick: Yeah.

[00:15:56] Drew Thomas Hendricks: Yeah, we got to have a dedicated podcast about FairHousing and what we can offer there.

[00:16:05] Fred Glick: Okay.

[00:16:06] Drew Thomas Hendricks: Let’s shift. Let’s shift because last week, if you tuned in last week, and if you haven’t tuned in last week, you should go back and listen to it, but it towards the end, we came up with an idea for this week’s podcast, which was listings. Not to take all the listings. Listings we do not take. And we were going to talk about that.

[00:16:26] René Pérez Jr.: Well, yeah. Sometimes new customers come into our intro call and they ask us like, “Oh, can we see previous listings that you’ve sold before? And have you worked in these markets?” And I think that by far we have just a lot of clusters of buyers all over the, all over the area.

But on the seller side, we are more specific in who we take and how we work with them. And why is that we do, we do get tons of calls from people who want to sell a house, a million dollars above what it’s going to sell, right? Or, we have people who want to be, lack transparency, honestly. They say that they don’t want to do any inspections or anything, because they have stuff that they don’t want to be uncovered.

Right? And on, you know, I’m sure that we’re losing money because we don’t just say yes to everything, but that’s not who we operate as a company as a whole. Right? And the other thing is that there’s some there’s, there’s other people who they think they want to sell, but they’re not really realistic into the, in the pricing.

And when it comes to the pricing. Right? We need to work with people that understand the dynamics of the market and how we’re going to make sure that we have the, the perfect buyer come in and get the, get to the home. Right? But if you’re the type of seller that is not really interested in selling, well, then we can’t really help you.

We can’t really help the other people who are really wanting to sell a property. So we turned down a lot of listings. And I think that’s doesn’t really, we don’t really see on the website. You know, I actually thought of the idea. “Oh, we should probably post a website of a list of all the listings we don’t take because they’re not realistic, right?”

Or we got people who are trying to just commit fraud in general, right? And, oh, like, should we, but then should we post those online? Well, maybe not. Right? So there’s, there’s a lot of things that, that stop us from taking the listings. I mean, Fred, do you want to add something more specific?

[00:18:28] Fred Glick: Yeah. I mean, it’s price. It’s like in some of these sellers minds because they put some kind of fancy drapes up, they think their house is worth 300,000 dollars more. Let me ask you a question, Mr. Seller. If you were the buyer of this house, would you pay this amount showing that all the comps are 300,000 dollars less? Even if there’s thousands of buyers in the market, it’s, it just doesn’t work that way. It’s not like, I don’t know, Elon Musk is going to just drive up to your house and say, “Dude, I want to overpay for your house.”

Nobody as a buyer wants to overpay. So there’s some thought in people’s mind that, “Okay, I’m going to list it for X. And I’m going to wait for the market to come to me.” Well, you know what? Don’t list it because then you’re going to have it 150 days on the market and people are going to say, “What’s wrong with this place?”

So the higher you put it up, and yes, there are always agents who will take listings. There are also agents who tell people that it’s some gigantic price. “Oh, we’ll get 2.7, even though every comp is 2.2, because I’m the greatest real estate agent in the world.” And then 120 days later, it’s still sitting there.

[00:19:42] René Pérez Jr.: And the idea is to get it to the higher price. And then talk to the buyer, the seller and say, “Hey, look, well, the price market has changed, shifted. We should lower the price.” And eventually the house in the market well enough where the seller will say, “Okay, you know what? Fine. I want to get rid of it. Let’s lower the price.”

To the original price where for example, you and I would have told the sellers that they would have gotten for the home, right? And also people ask us exactly like, “Oh, how long will it take to sell?” Well, it depends, right? If you’re a seller, if you’re a seller who wants to price it a million dollars above what it’s going to sell for them, it’s going to stay on the market for a long time.

Right?

[00:20:19] Fred Glick: Here’s another thing that we have done, and we don’t do it on every deal, but if somebody says, “I want, you know, a higher price than what we think the real price should be,” we say, “Look, we’re going to order an appraisal from a certified licensed appraiser to give us a market appraisal of what we should be listing the house for. What it’s going to sell for.” Because that’s their professional thing and we do and we order that you know sometimes they say, “Oh he doesn’t know anything about…” But he lists seven comps and then goes down and gives it in detail as to comparing their house to every other comp.

[00:20:59] René Pérez Jr.: I mean, yeah, I mean, I actually – but it’s because the problem with a lot of appraisers is that at the same time they give us, you know, a price higher than what the market value is.

[00:21:10] Fred Glick: Yeah it’s that one guy.

[00:21:11] René Pérez Jr.: Because no, I’ve actually, I’ve actually seen this through, through a lot of other appraisals because their whole idea is that they want to make us because we’re the who’s the main customer real estate agents, right? And usually agents want the highest price. So they think that we have that mindset of like, just because

[00:21:29] Fred Glick: They think we’re on percentage.

[00:21:31] René Pérez Jr.: Well, sure. But they just want to make us happy in general, right? Because that’s just how it is.

[00:21:37] Fred Glick: Yeah, well, you know, we can tell the appraiser. Look, we want reality. You don’t have to stroke our ego. We don’t have egos. We just deal in business. So that’s why we don’t use signs. We don’t put our pictures on anything. You know, we just have our, have our toucan. That’s it. Just noticed by the toucan because the big difference with us is we’re, we’re a company.

So it’s me and René and Jen and Hallie in Texas and we run everything and we run every deal. It’s not like we talk to you and I’m the boss and I’m going to give you, like when I went first for a physical therapy once, I met the boss and he went through everything. And the next time I came back, it’s like some kid was doing things.

It’s like, no, we’re not going to pawn you off to another agent. Cause people ask, well, who’s my agent? Who am I talking to? Well, we’re in Slack channels. It’s me and René, you know, so whole different philosophy and it works, and it works to everybody’s benefit.

Anyway. End of that conversation.

[00:22:40] Drew Thomas Hendricks: Almost the end. Almost the end. You mentioned about not taking listings in that, you know, the price is too high, and the house is on the market for 105 days, which looks bad. The other thing is that all the times on the market is in public listings, so there’s that trick where people take it off the listing after 14 days and then relisted at a different price, but you can still see it going down days. 

[00:23:00] Fred Glick: On the market. Yeah.

[00:23:02] Drew Thomas Hendricks: You can still see it on market 14 days and they dropped it 100 grand, but it’s only been on market for 2 days.

[00:23:07] Fred Glick: It doesn’t, no, it shows. It’ll show us, you know, the total number of days there, 28. 6 months.

[00:23:14] René Pérez Jr.: There are a few loopholes to that. I mean, obviously, if you list it on a different MLS, you can get a fresh new listing, which by the way, I believe it’s actually technically legal.

I have to check on in, on that. But also, if you take it, you have to take it off the market for 40 days on the same mls for it to be a new listing. And the way it has to do is the actual, the contract has to end and a new listing agreement has to be done. That’s actually how it needs to be done appropriately.

It’s still kind of sneaky and it’s not something you really want to do. The idea is to not have to relist it.

[00:23:50] Drew Thomas Hendricks: Historically though, they still see that the house was on and off market at times, which makes it even look worse.

[00:23:56] René Pérez Jr.: Well, it’s not even about historic, right? It’s more about like, if you’re buying a specific neighborhood, it’s like, you’re going to see the house.

You’re going to, if it comes back to the market, you’re going to remember that house, right? It’s not like, it’s not like science. It’s not like picking, yeah, I don’t know how to explain it.

[00:24:14] Fred Glick: I guess they’re looking for new buyers as opposed to the old ones who are already going away. Or whatever.

[00:24:20] René Pérez Jr.: Oh, sure.

[00:24:22] Drew Thomas Hendricks: Well, it’s good to be transparent and it’s good to not try to actively engage in fraud, which brings us up to the next DOJ charges on another mortgage fraud scheme.

[00:24:34] Fred Glick: It’s like, it’s the same old song, but a different set of idiots. I read about some guys the DOJ found these two morons in New Jersey who were making up pay stubs and w2s and fake bank statements and sending them into their mortgage lender, probably a sloppy lender who didn’t do quality control.

And they got away with it for a while. They made millions. And they’re the number three or the number four mortgage guys in the country. Yeah. Surprise. Guess how? I mean, you’re just stupid. I mean, every, every time.

[00:25:13] Drew Thomas Hendricks: 1.4 billion in loans between 2018 and 2023.

[00:25:17] Fred Glick: Yeah. So do the maths, 1.4 billion. They probably charged 2 percent per deal. So what is that? 28 million or something? They’re just insane.

[00:25:31] Drew Thomas Hendricks: And now they face a potential penalty of 30 years in prison and a 1 million dollar fine.

[00:25:36] Fred Glick: Only a million. Yeah, because every time you sign for a mortgage, you sign an FBI form. It’s a federal law that says you can get up to 10 years in prison and a million-dollar fine for committing mortgage fraud.

It’s like you’re just an idiot to do that. So the flip side of that, let’s talk about the technology. There is a day one certainty, which it comes from Fannie Mae, which is a system that they’re slowly bringing out the mortgage brokers, and we’re finding our credit companies actually doing it and finding out about it, where electronically they’ll connect to things like the work number to verify your employment and your income plaid to go through and check your bank accounts, plus the credit report. And some kind of a way. I mean, that shows your income, couple if you’ve been at the same company for a couple years, so they don’t actually get to be a twos.

And it’s like with that and the credit report. And if you’re buying a house under a million dollars and putting a nice amount down. And you have good credit, you’re going to probably get an appraisal waiver. So literally, in the future, we could be seeing, you know, approvals in one day that’s completely automated.

We go through the three day that the big, in the beginning, you have the disclosures for all the stuff, including the estimated closing costs, you sign all that. They hit the button, they get everything approved, waive the appraisal, then you literally can have your CD issued, which is the numbers for the closing, which are guesstimates, and then three days later go to closing.

You literally could close in a week if this thing worked perfectly, it’s not that it’s not there yet, but that’s what we’re trying to strive to. And it’s completely quality-controlled. We, you can’t doctor it up and these idiots will be gone. So, you know, I beg the mortgage industry to just spend the money now, move forward, get this thing rocking and rolling so that everybody’s on the same system.

And we just get mortgages done quick. And also drive down the cost because you won’t have to process as much. You won’t have appraisals to worry about. You won’t have to have it come back to underwriting three or four times. You know, the other things you might ask, “Hey, where does this large deposit come from?”

And you can actually see implied where, you know, who it came from. And then you just have to back that up. So literally, if you have a super clean file, you should be able to close in a week.

[00:28:11] Drew Thomas Hendricks: That’d be amazing.

[00:28:13] Fred Glick: Yeah. And it’s not hard. It’s really not hard.

[00:28:16] Drew Thomas Hendricks: I mean, with, yeah, with all the technologies talking to each other nowadays, it seems like, and everything’s digitized, you should be able to get this thing done pretty quickly.

[00:28:26] Fred Glick: Exactly. Exactly. So we hope and pray. Soon.

[00:28:33] Drew Thomas Hendricks: Let’s hope. So, let’s see, as we’re kind of wrapping down, what are your thoughts? Last thoughts?

[00:28:39] Fred Glick: Well, the Dallas stars are down two games to nothing. And that’s a surprising thing. You’d think worst case, they would split in Dallas. How about the LA Kings winning in overtime yesterday?

So the NHL playoffs are on, kids, and today is the NFL Draft. That’s a big look for, how many people –

[00:29:01] Drew Thomas Hendricks: Are you on an NHL fantasy team? Do you have a fantasy league going on that we don’t know about?

[00:29:06] Fred Glick: Just in the regular season, that’s all. They don’t have them for the playoffs. It just keeps my, you know what? I just do it to keep me informed of kind of what’s going on as opposed to listening to everything. It’s like, oh, this guy got two goals and assists last night. He’s doing pretty good, on average. Let me ask you this, Drew since you’re in San Diego, does anybody care about the Chargers anymore?

[00:29:28] Drew Thomas Hendricks: No, they, I, you could see a few people, but

[00:29:32] René Pérez Jr.: I still care about the Chargers.

[00:29:33] Drew Thomas Hendricks: I don’t know. Them moving, it’s just, it was just a bad taste. A lot of people just,

[00:29:39] Fred Glick: I think, you know what? I think they’re gonna move again. I just can’t see having two football teams and a place that used to have none. No. Vegas is, that’s gonna be, they already have a team in Vegas.

[00:29:50] Drew Thomas Hendricks: I just don’t understand why they couldn’t get that stadium figured out.

[00:29:53] René Pérez Jr.: Well, I think the stadium is now gonna turn into a soccer stadium. Aren’t they?

[00:29:58] Drew Thomas Hendricks: No, it’s the San Diego State that tore it down. They tore down the Jack. Well, I call it Jack Murphy.

[00:30:03] Fred Glick: Jack Murphy. Yeah.

[00:30:05] Drew Thomas Hendricks: They tore down that stadium and they built a new football stadium for the San Diego State.

 I mean, it’s nice. And then we’re getting up. I mean, we’re getting a new arena for the Clippers.

[00:30:18] Fred Glick: Oh, yeah, the Clippers place. It looks crazy.

[00:30:21] René Pérez Jr.: But so where are the San Diego soccer going to be? San Diego soccer’s. I think that’s what it’s called.

[00:30:28] Drew Thomas Hendricks: Yeah. Are they I think they played out of the sports arena, but they might be coming up to the front wave arena too.

I know there’s a soccer thing coming in.

[00:30:36] René Pérez Jr.: Yeah.

[00:30:36] Drew Thomas Hendricks: I’m honestly not up to speed, but I do know most of my friends have jumped ship from the Chargers.

[00:30:43] Fred Glick: They’re just ignoring football or they found another team.

[00:30:46] Drew Thomas Hendricks: Oh, they, yeah, they just go pick another team, which is weird.

[00:30:51] Fred Glick: Just don’t pick the Dallas Cowboys. Okay. That’s all I have to say.

[00:30:55] Drew Thomas Hendricks: Yeah.

[00:30:55] Fred Glick: I can do my E A G L E S eagles.

[00:30:59] René Pérez Jr.: Okay.

[00:30:59] Fred Glick: Let’s do that again.

[00:31:02] Drew Thomas Hendricks: Yeah, we need to make some micro content out of that 1.

[00:31:06] Fred Glick: There you go.

[00:31:07] Drew Thomas Hendricks: René, what are your last thoughts?

[00:31:09] René Pérez Jr.: So, last episode, I think we talked about or spoke about, like a speed train, right?

[00:31:14] Fred Glick: Not the speed trainer, I’m talking about the one that can take your car with you between LA and San Francisco.

[00:31:18] René Pérez Jr.: Oh, yeah, yeah. Well, a friend of mine is visiting me on June 2nd, and he just booked a flight, San Diego to SFO, 24 dollars.

[00:31:29] Fred Glick: What? On Frontier or Spirit? Just don’t bring any luggage or anything in your hand.

[00:31:39] René Pérez Jr.: Yeah. Sure, but the fact that you can fly for that price, that’s It’s unbeatable.

[00:31:45] Drew Thomas Hendricks: Yeah, but then airport taxes and fees, what was it out the door?

[00:31:49] René Pérez Jr.: That’s included with everything.

[00:31:51] Fred Glick: But yeah, but if you even bring a bag to, you know, throw up in the overhead bin, you pay 99 dollars on Spirit. Spirit’s such a scam. The seat, the big plushy seats they have in front. Don’t go back.

[00:32:08] René Pérez Jr.: It sounds like a scam, but it gives people the ability to choose what they want to pay for.

[00:32:14] Fred Glick: Oh yeah, but they forget to tell you until you get there kind of thing. It’s just crazy.

[00:32:19] René Pérez Jr.: No, I think that, no, I think they have a slogan where it’s like, you know, I think that a slogan where it’s like, “Oh if you want luggage, you have to pay for it.” Kind of thing. I think they’re running on the.

[00:32:29] Drew Thomas Hendricks: That sounds like a catchy slogan.

[00:32:31] René Pérez Jr.: Yeah.

[00:32:32] Drew Thomas Hendricks: You gotta pay for it. I like Southwest bags fly free.

There you go. That’s the catchy slogan.

[00:32:37] René Pérez Jr.: Yeah. No, and Southwest is pretty good. That’s who I usually fly out of.

[00:32:42] Drew Thomas Hendricks: But I’ve never gotten $24 and I used to, and back in the nineties I commuted every single week from San Diego to San Jose or San Francisco, and the cheapest I’d ever get was $49.

[00:32:52] René Pérez Jr.: Mm-Hmm. . Yeah. No. And I mean, Southwest does those $49 all the time. San Diego to SFO.

[00:32:58] Fred Glick: Supply and demand guys, once their algorithm gets to a point, the prices go up. So,

[00:33:03] René Pérez Jr.: Yeah, well, I mean, I mean, 50 dollars one way is still really cheap.

[00:33:08] Fred Glick: Right. Then you still got to get from the airport and it’s, you know, it’s point to point is the thing you got to do, you know, add it up.

What’s the Uber going to cost me?

[00:33:17] René Pérez Jr.: Rental cars aren’t that expensive anymore. And if you have the correct credit cards, like I know that, like, the Amex. I think a platinum, it gives you like a free, free day on Hertz and they give you like upgraded cars for free. So you can just get the lowest tier and you’re paying 30 bucks a day and it covers for your insurance. It’s still cheaper than. Oh yeah. Anyway.

[00:33:44] Fred Glick: There’s a lot of variety out there.

[00:33:46] René Pérez Jr.: A fun little comment there. My friend is flying to San Francisco, 24 bucks.

[00:33:52] Drew Thomas Hendricks: There you go.

[00:33:52] Fred Glick: Gotta love it. And there’s a good old regular bus. It’s cheap.

[00:33:57] René Pérez Jr.: You’re paying with time. You’re paying with time. Nothing is ever cheap.

[00:34:01] Drew Thomas Hendricks: Well, the time has come for this podcast to end. Talking about time, everyone have a wherever you are in your week, hope it’s going well. This has been the latest episode of We Fixed Real Estate. See you later, listeners. Bye bye.