Fred Glick, a Broker, Real Estate Realist, and Founder of Arrivva, holds a stellar track record with over $2 billion in residential transactions while grounded in a lifelong passion for real estate. René Pérez Jr. is an adept Broker and Pricing Savant, who specializes in strategic problem-solving and long-term growth.
Join them in the We Fixed Real Estate podcast by Arrivva, where they share expertise and insights about the dynamic real estate landscape. Arrivva, a leading real estate and mortgage brokerage, caters to buyers, sellers, and mortgagees with love, integrity, and a transparent fee structure. Featured in the Wall Street Journal, Arrivva is transforming the real estate landscape, one happy client at a time.

Here’s a glimpse of what you’ll learn:
- Dive into the world of real estate contracts and learn why precise contract terms are crucial and how ambiguity can lead to costly legal disputes
- Understand the delicate balance between transparency and confidentiality in negotiations
- Understand the fragmented nature of multiple listing services (MLS)
- Learn about the new trend of using commission concessions in response to NAR settlement changes and its effects on property taxes
- Delve into the ethical issues surrounding dual agency
- Explore the challenges of modernizing an aging workforce resistant to digital changes and how outdated practices impact buyers and sellers
- Gain helpful insights on how to navigate property issues and real estate transactions during (or in case of) a divorce
In this episode with Fred Glick and René Pérez Jr.
Fred Glick and René Pérez Jr. of Arrivva explore the pitfalls of outdated real estate practices and their impact on today’s market. They dive into the nuances of real estate contracts, shedding light on how vague terms can lead to confusion and legal issues. The discussion about the complexities of transparency versus confidentiality in negotiations takes center stage, along with the evolving role of MLS systems, and how commission concessions are reshaping the industry.
Tune in for insights on modernizing real estate practices and navigating current industry challenges for homebuyers and homesellers alike in this episode of We Fixed Real Estate.
Resources mentioned in this episode
- Fred Glick on LinkedIn
- René Pérez Jr. on LinkedIn
- Arrivva
- Arrivva Mortgage
- Once Upon a Coconut
- Slack
- Redfin
- Zillow
- REcolorado
- CoreLogic
EPISODE TRANSCRIPT
[00:00:00] Drew Thomas Hendricks: I’m back. Fred’s back. René’s back. We’re back from July 4th. You’re on We Fixed Real Estate. Today, you know what we’re talking about? We’re talking about contracts. Fred, what’s the good word on contracts?
[00:00:12] Fred Glick: Besides we read them and understand them. So we had a situation this week. Excuse me one second.
[00:00:22] Drew Thomas Hendricks: What are you drinking there, Fred?
Share it to the audience. This is a non-sponsored. Fred paid his own money for this can.
[00:00:28] Fred Glick: This stuff is awesome. All it is is coconut water and watermelon. Nothing added. That’s it. So it’s like drinking a watermelon. And it’s got electrolytes and 90 calories a can. Made in Vietnam.
[00:00:48] Drew Thomas Hendricks: That’s good. What’s the company?
[00:00:50] Fred Glick: Once Upon a Coconut. Yeah, they have some other flavors. They have a blueberry, coconut water.
[00:00:59] Drew Thomas Hendricks: Well, if you’re listening and you run a coconut water company, send your free samples to Fred. You might get a pitch on the show.
[00:01:05] Fred Glick: This stuff is awesome.
[00:01:07] Drew Thomas Hendricks: Watch, you’re going to get like five cases of coconut water next week.
[00:01:09] Fred Glick: That’s fine. I can drink this stuff all day long. It can replace water for me.
[00:01:15] Drew Thomas Hendricks: No, it’s good.
[00:01:16] Fred Glick: It’s really good. And what were we talking about?
[00:01:20] Drew Thomas Hendricks: We’re talking about contracts and what you need to be aware of.
[00:01:24] Fred Glick: Well. It’s not exactly what you need to be aware of but we’re going to talk about something that happened with us and contracts this week.
[00:01:36] Drew Thomas Hendricks: Yeah. I got the Slack to bring it up.
[00:01:39] Fred Glick: Bring it up there.
[00:01:41] Drew Thomas Hendricks: Yeah. You know what?
[00:01:42] Fred Glick: I want to make sure I got it right.
[00:01:44] Drew Thomas Hendricks: So I get a very up to Slack from you and it says technically it makes the counter invalid because it’s not a finite number. I’m waiting for someone to sign it as is and sue the seller.
[00:01:55] Fred Glick: Okay, so here’s what that’s all about. Thank you. Let’s say this is in California. It may be in other states, but this is what we experienced. We send off a contract at a deadline and the seller comes back and says, “Hey, we’re going to have a multiple counteroffer.” Meaning they’re going to make the same offer to everybody.
Okay. Maybe there’s a little variation for what people wanted in their original contracts, but basically one thing they put on there on every single one of the counters is the purchase price, highest and best.
Not a number, just the words, highest and best. So my thing is, what if my client signed that? Exactly as the counter that they sent over. And they’ve accepted it. So everybody’s, we’re in contract. Because we’ve accepted their terms. I mean, they still have to sign off back to us. I mean, I’m fully under contract.
The seller still has to sign, but how can they come back to us? We’ve already said, we’ve given you the highest and best and whatever that means, we’ve agreed to it because it has to be a number, but I’d love to see this adjudicated.
[00:03:22] Drew Thomas Hendricks: Yeah.
[00:03:23] Fred Glick: Okay. That’s my point.
[00:03:25] Drew Thomas Hendricks: That’s interesting. So they could just go highest and best as a one million dollar home. And then they feel like, well, the best offer would have been 10 million.
[00:03:32] Fred Glick: Exactly. So, and then you don’t come to term. I mean, it’s so wacky. No, put a number in there. If you agree to somebody signs it as is, you’ve got a contract, but if you like something else that comes in, you take that instead, not, you know, I mean, anyway, I’d love to see a court of law.
[00:03:53] Drew Thomas Hendricks: Yeah. That’s interesting. Cause they did like typically like a single back and forth. They’ll just counter with a dollar figure and in a multiple situation, you can’t leave a blank. Is that true? You can’t leave a blank. So you have to put something in there.
[00:04:06] Fred Glick: Yeah. You’re not. I mean, if you wanted to put zero, put zero. If you meant zero, put zero.
[00:04:14] Drew Thomas Hendricks: Did you put like plus one dollar over the highest counter and do like a price is right thing?
[00:04:22] Fred Glick: No, no, no. The sellers have, the buyers have.
[00:04:25] René Pérez Jr.: I mean, the whole idea is that the sellers and the sellers’ agent want to leave everything to chance and to make people feel FOMO, right? But buyers are not just going to, you know, give 100k more just because there’s a counter out, right?
So a lot of sellers are kind of hurting themselves because the agent doesn’t, the buyers don’t know where to bid, where’s a number, where’s the solid number? Is it 1k more or are we losing it by 50k? Right? And that’s where the lack of transparency gets you. Right?
Because if everybody was able to put in the contracts are like, “Hey, this is the winning number right now.” Then you have other buyers that would have been willing to pay more, but they just didn’t know where the number was.
[00:05:14] Fred Glick: That’s why if you’re in a bidding war with 30 other people, you just go in with your highest and best and say, “Hey, this is the best I could do.”
And that’s the highest I was going to go anyway. If I lose it, I lose it because it’s probably, you know, what you think is high is different from what someone else thinks is high. That’s the thing. Everybody’s not in the same mindset. There’s people who’ve been looking for months and months and now their leases up and their landlords moving back in and some, some reason they got to get out.
You know, they’re going to go with a higher number just because it’s worth it more to them. You know, I tell people, look, ask yourself how long you’re going to own the property. You’re going to own it 20 years? Yeah, so maybe you paid an extra 50,000, but you’ll look back in 20 years when it matters when you sell the place and you wouldn’t even remember the extra 50,000 or you’ll laugh about it.
It’s California real estate. It’s not going anywhere. So it only goes up. You can’t replicate the neighborhoods. You know, copy, save, paste right next to where you’re at. It just can’t be done.
[00:06:32] Drew Thomas Hendricks: Yeah.
[00:06:32] Fred Glick: So you got to go farther out and farther out and farther out with new construction or up. And then you got earthquakes to deal with.
And then the costs of building. And it’s, it’s crazy. But that’s why single-family houses, California, Mazel Tov. Just hold on.
[00:06:49] Drew Thomas Hendricks: It’s definitely a different market here. I mean, if you’re in Wells, Nevada, town of 1500, you may not see that, 50,000 may not, you may not see that as a drop in the bucket 20 years later.
[00:06:59] Fred Glick: Oh, totally. But you’re probably only arguing over 5,000 on those houses. It’s all relative to the sale price and the scale. So,
[00:07:10] Drew Thomas Hendricks: Yeah. Well, talking about transparency, transparency is good, except when it interferes with confidentiality. And we were talking earlier before the show about the, how it’s you never want to give feedback. How a seller right now, there’s a case going on and we saw it on, in the socials about the buyer’s agents getting sued because they gave feedback to the seller and the seller had some stupid, like, your buyer thought the price was too high, too low, or just right.
And the buyer’s agent said their clients thought it was too high. So the seller got all pissed off and the seller decided that they want to just turn the screws to them. And then the whole negotiation was frosty. Everybody’s angry and they ended up paying more than they thought they should have.
And then they found out that the reason why it was because the sellers were pissed off that the buyers were that they were under the, because of the buyer’s agent told them it was too high. And that’s all just that feedback. And now they’re getting sued.
[00:08:16] Fred Glick: Here’s my thing. If you are the listing agent of a property and you don’t know what’s wrong with your listing, give the listing back to the owner.
You don’t need feedback. You can, it’s a feeling you can tell it’s by traffic. It’s by when you’re going to have offers, or if you got nobody coming. You know, your priced too high. I mean, it’s so obvious. If it’s ugly, you got to have a little bit of a taste, a little bit of taste and, you know, I still see pictures with toilet seats up and crap all around.
[00:09:01] Drew Thomas Hendricks: You shouldn’t say that right in conjunction with toilet seats up crap all around. Oh yeah.
[00:09:06] Fred Glick: I mean, it’s just, it’s like, you’re trying to take pictures of a bathroom. Put the damn toilet seat down. Okay. It’s a Feng Shui thing, first of all. So I did have a course in Feng Shui about 10 years ago, maybe 12 years ago.
So I got, I got a little bit of knowledge about it. Anyway, moving on from this toilet.
[00:09:33] Drew Thomas Hendricks: Moving on. Talk about a lot of times there’s the buyer and agent, buyer’s agent, listing agent animosity, but sometimes it’s just actually smooth sailing. And I know we talked earlier, got a shout-out.
[00:09:44] Fred Glick: Oh, yes, I do. We had a closing. Clients who were from out of town have never saw the property. Only on the video when I did a walkthrough for them. And the listing, it was empty. There was no staging, which, so it was pretty, pretty simple. My clients were fully underwritten pre-approved, and we just had to do an inspection. The inspection was clean, you know, it was just really nice.
And, you know, it gets closing, everything’s fine. Everything goes through. There’s actually one of the nicest deals we’ve had in years. Everybody cooperated. Everybody got it. Everybody stayed, you know, on top of things in a nice way. They were helpful. They went out of their way to do things and the escrow company they picked was great.
Luckily. And I just want to give a shout out to Michelle at Redfin. And I got to say, whenever we deal with Redfin agents who are the listing agents, they’re fabulous. They get it. It’s a company and it’s done in one way. And you have agents for each. I think there are a lot better because they’re not as much of an outside agent, like the other franchises have, they’re part of a system. The full system works the same way for a large corporation. And shout out to them. I mean, it’s great pleasure working with them. They have good people. They have a good HR department. Let’s put it that way. Pleasure.
[00:11:24] Drew Thomas Hendricks: Yeah. There’s a lot to be said for a transactional systematized process, making everything just easy. A lot of real estate teams, they try to be individual. They try to show how they’re different. And by showing how you’re different, oftentimes adds friction to the whole thing.
[00:11:41] Fred Glick: Exactly. Exactly. And that’s our approach. The whole company is a team. Just it’s all one system. It just makes sense.
[00:11:48] Drew Thomas Hendricks: And that’s how you reduce costs and pass the savings back to the buyer and seller.
[00:11:53] Fred Glick: And everybody gets the same knowledge base. Like the people we have, we just hired someone who’s licensed in Sacramento.
And another person’s coming on who’s about to be licensed up in Seattle. And we just kind of throw them in the mix every morning with our eight o’clock Pacific time meetings that we have just go over every deal or issues and whatever. So they’re learning you know, kind of how we work. So it’s, it’s fun that way.
It makes more sense this way. I don’t have to remember things and bring it up, but we have Slack. We love Slack. We have Slack channels. Anyway. Moving on.
[00:12:37] Drew Thomas Hendricks: Importance of processes.
[00:12:39] Fred Glick: Exactly.
[00:12:40] Drew Thomas Hendricks: Importance of processes. Let’s talk, thinking about processes. Let’s talk about the MLS and what a cluster that thing is.
With all these fragmented MLSs and one just got sold. One just got sold in Colorado to a private equity company.
[00:12:54] Fred Glick: Yeah, the Colorado, REcolorado MLS, I think I belonged to it years ago. They got sold, they got probably pinched down, they couldn’t afford to fight the legal anymore, probably. I don’t know what the whole thing, there’s articles about it.
And now, I read somewhere, I think that actually the VC was some cousin of somebody, some inside dealer, I don’t know. Don’t quote me on this, but check it out. But anyway the thought comes on, so I see this headline that an MLS, the multiple listing service, which is what all the agents use to actually, you know, make the listings that you see on Redfin and Zillow.
At any time there’s a change, it’s because they went into the MLS and made the change. You have to be an agent to have access, pay a fee to get access. You’re allowed to have the data go to a website of your own but under their very strict guidelines of the format. So you can’t do anything. There’s no API.
No, is their answer because they want to control the data and they want to control the way it is. Now this VC company when I first saw that, I thought of this. I thought this was fantastic. But every real estate agent is freaking out of their minds and blah, blah, blah. It’s like, no, no, no, no, no.
You guys don’t get it. Here’s the idea. And if anybody’s listening, any of my hockey, old hockey buddies at Wharton, this might be something for you. You know who you are. So what you do is you buy an MLS, you buy all the MLS basically, cause they’re all going to need the money. And what you develop is a system where you will allow the data to have an API.
And then you will bring on these creative real estate brains who will know how to parch the data to give people better stuff that they can learn about and sold listings. So you don’t need a real estate agent to be your data broker. You should be able to get it yourself. You’re limited to what the MLS is allowed.
And you know what? Charge me more. Let me try to make some money from it. That’s great. And you could make a fortune out of this. And then if they want, the education stuff and they, they have multiple offices, some of these MLS, I mean, physical offices, and they do a caravans. You want that whole separate fee, whole separate division, sell that off to an agency.
You guys do that. All we want is the data period. And give them a piece going forward. Give them stock in a new corporation. I don’t know if ever you want to structure it. That should be the future of real estate period.
[00:15:56] Drew Thomas Hendricks: Sounds compelling.
[00:15:57] Fred Glick: Yeah, I know.
[00:15:58] Drew Thomas Hendricks: So educate me a little bit on MLS. Are all these things exclusive? So there’s one MLS per area, or can I just start an MLS tomorrow?
[00:16:10] Fred Glick: You could start an MLS tomorrow. The infrastructure, you could go to CoreLogic technically, and buy their product, rent their product, however, they sell it, start your own multiple listing service they’ll build it for you.
I would think unless they have exclusive agreements with these other, you know, realtor, real estate agent MLSs to not have any more, I don’t know.
[00:16:41] Drew Thomas Hendricks: Yeah, some sort of barrier.
[00:16:43] Fred Glick: Because here’s the other thing, maybe I don’t know the technicals of this. This’d be a great discussion for nerds, but do they, is the CoreLogic system built so you can not have any control of the API. It’s locked.
And it would be like ridiculous to try to rebuild it. You know, but yeah, I mean, I would pay, that would be an interesting thing. Just at least try it. Just build an MLS through CoreLogic. It can go from anywhere in the country.
[00:17:24] René Pérez Jr.: I’m sure the data is, I’m sure this is.
[00:17:27] Fred Glick: No, no, no. We just attract new agents to the site.
Just say, look, you can put it up on us. We’re going to syndicate, we’ll syndicate to Redfin, Zillow and everybody else. We don’t care, but we want control of the data. And you know, if you’re an agent, you come in, you’re going to pay more, but you’re going to get more and make a value play to the agents. Do that.
And you can invite fisbos, you know, certify them in one way, shape or form. Who cares. And they’re right on par then with an agent in terms of putting it on the, “Oh yeah, you have to be licensed to put it on the MLS.” Who said that? I don’t know that to be true.
[00:18:12] Drew Thomas Hendricks: There’s also that, well, there’s little disclaimers at the bottom of the MLS and they have to be a member of the MLS in order to receive a commission, which, yeah.
[00:18:19] Fred Glick: Well here’s what people don’t realize. The MLS is, besides being the place where you put all the data is a giant agreement between all these companies to share commission. So you don’t have to send a share commission agreement for every deal. But like in Texas and soon to be Illinois, at least temporarily.
Oh, we’re going to go into those markets. And when we have buyers, we’re going to get a commission agreement because we’re not members of the MLS because we’re not realtors, but it’s not going to matter, we’re going to be able to, these agents want to sell, they’re going to give us the information that’s in the agent to agent notes, even though we’re not on the MLS, they don’t, they’re just stupid. And we contact the owners.
[00:19:04] Drew Thomas Hendricks: Yeah.
[00:19:06] Fred Glick: We tried you can get it.
[00:19:08] Drew Thomas Hendricks: Well, you brought up our favorite topic, commissions, realtors, the NAR settlement, and what the current real estate realtors are doing to circumvent the commissions. There’s a new word coming out, concessions.
[00:19:22] Fred Glick: Okay, so here’s the story right now today in the real world.
Let’s say you bought a 200,000-dollar house, and you’re going to put 5 percent down. Okay. Okay, so you do the math. 10,000 dollars down. Okay, but now you have to pay your real estate agent directly. So your real estate agent, let’s say it’s costing you 5,000 dollars. So what they do is they write up a contract that says you’re going to pay 205,000 dollars to buy this house. Not 200,000 because, but we’re going to have the seller pay 5,000 dollars towards your closing costs.
So that’s the way that they’re doing this. And then it says that the seller will be paying the buyer’s commission. So you just did it with a credit, but you’re paying a higher price because of it. And because you’re paying 205 because you had to get the 5,000 credit so the seller could pay for it. So here’s the problem with that and it’s a small number, but you can imagine adding these small numbers up and especially the larger numbers and adding them up. What just happened is the city of whatever?
Just made one point two five percent more of 5,000 dollars more. And they’re going to continually do that when they raise the value of your property and they will raise more money. So your taxes are going up because they’re making you pay for your buyer that way.
[00:21:17] Drew Thomas Hendricks: That’s sneaky. I can see 5,000 being not much, but yeah, they raise property values 1.1 percent every year.
[00:21:26] Fred Glick: Okay. So let’s take it to a million and the real estate broker who works for a large company where they charge 2.5 percent of the sale price. So in a million dollars, that’s 25 grand. Now you’ve raised 1.25 percent of 25 grand. Hello. But usually, buyers at a million dollars have the money to pay the broker.
So as the prices go up, obviously people have more cash generically. It’s not a hundred percent hard, but we shall see, but it’s going to raise taxes for a lot of places.
[00:22:13] Drew Thomas Hendricks: And is that something that’s becoming common or is this something that’s being proposed?
[00:22:18] Fred Glick: Let’s put it this way. I’m not even going to get involved with what’s going on with the real estate commission stuff. I don’t care. What’s going to happen is going to happen. Half the people are doing it. Half the people aren’t these agents are just never going to get it together. You know, we’re just going to say that our people that come look, we’re a buyer broker. You sign a non, oh, here’s, let me say how important this is. These agents are going to want you to sign an exclusive contract with them. Don’t, don’t, don’t, don’t. We do only non exclusive. So your worst case with us is you come on in, sign a non exclusive, then you have it in a PDF to show the agent, “Hey, I have a buyer broker. You know, let me into this open house.” You’re going to need to get into open houses. And if you don’t want to use this, you don’t want to use it.
So that’s what, that’s the one thing that’s going to come about that we’re going to push. And, you know, as the stomach turns, we’ll see what happens like up in, up in Seattle, Northwest MLS, they’ve decided they’re not going to obey and they’re still going to have a buyer broker.
[00:23:33] Drew Thomas Hendricks: There’s a little retaliation.
Well, I can see these concessions being an ethical slippery slope, especially with dual agency.
[00:23:41] Fred Glick: Oh, dual agency. Don’t get me started. Yeah. That’s the other part of this that, you know, you’re going to go to open houses and you’re going to sign a contract with the person who’s at the open house to be your buyer broker, just so you can see the place.
I have two words for you. And the first one begins with an F and the second one begins without Y. Okay. We’re trying to keep this podcast clean. Like seriously, like, no, we’re going to have to have, you got to build this Drew. You got to build a, like an automated system that people can just come on and we’ll come up with a contract that says, put your names here.
We’ll be your buyer broker, completely, you know, non exclusive just to get you into open houses. Okay. Here’s our fees. Here’s our term, blah, blah, blah. You know, pre-signed by me, and just people can do it automated. What do we care? And just register. That’s what it’s probably going to come down to. Because dual agency, if you don’t know what it is, kids, it’s when one agent represents both the buyer and the seller on a transaction. It’s like having an attorney to defend you, who’s also prosecuting. It just doesn’t make sense.
[00:25:00] Drew Thomas Hendricks: Very hard to advocate unless it’s a commodity.
[00:25:04] Fred Glick: We’ve seen the, “Hey, you got to go through me if you want to buy this house,” thing happen. But it’s very rare.
[00:25:12] Drew Thomas Hendricks: Is that, isn’t that the model with like new, new model homes or new homes?
[00:25:16] Fred Glick: That’s a whole, that’s all different discussion. We wouldn’t to get into that.
[00:25:22] Drew Thomas Hendricks: Well, René, what’s top of mind for you? You’ve been silent on this podcast. I know you had a wild 4th of July.
[00:25:29] René Pérez Jr.: I mean, what can I say? There’s reasons people keep doing things the way they do things. So it’s no real use to kind of elaborate further. I mean, we talk about MLSs and we talk about Redfin agents and blah, blah. The problem is this industry, industry is filled with people that are 60 years plus.
That’s the issue with this business. Really is. Right now we’ve got an email while we’re doing the podcast. And this is something that we do for all our clients. We ask our clients to, or a lot of our buyers ask that the pictures of the homes are removed from the MLS. Because it’s a security issue, right?
Like if you move into a new house, yes, you can change the locks, but if someone Googles your address and they go on Redfin and Zillow, you can see where the windows are and if there’s a bed, if there’s the particular floor plan of the house, so it can become a security issue for multiple reasons. Now, which one’s the main bedroom, which one’s where do the kids sleep, all of that, right?
So we want to remove them and it’s the MLS is, one of the MLS rules is that you can’t remove all the pictures. There has to be one picture, which is fine. Usually, you keep the front image of the home, which, you know, if Google is in your neighborhood, they’re taking pictures of the house anyway. Which by the way, you can request Google to remove and blur your home.
That’s just something that you can do on your own, but all the time we get responses from agents saying, “Oh, I have never seen this in my 22 years of experience.” So, and this in regards to asking for the pictures to be removed. So it’s just amazing how there’s always this excuse from older agents saying that they’ve never seen something happen before.
[00:27:31] Fred Glick: You know why? Because they’re only dealing with their friends who are both all the same age and all in the same ability bracket when it comes to digital, the digitized world.
[00:27:42] René Pérez Jr.: My point still stands. Well, my point still stands. It’s because the business is built for people who are, you know, 65 plus and they don’t want to change their ways.
There’s new things coming to market every single day. And that’s why, I mean,we connect with founders that are trying to build these. And I mean, we started the podcast with like, “Oh, if there’s an API that can build this and that.” Like, well, sure. But when you try to implement stuff, try to get all these 60-plus-year-old people to use it, it’s becomes a headache. It’s just, you move nowhere. And that’s why it’s like a lot of the motivation just kind of falls. Right? And no, I mean, when you hear someone say that they’ve never seen it happen or that it’s not done that way, or that they’ve done the process for hundreds of times, run away from them. Because that’s just, that’s just not.
[00:28:31] Fred Glick: The buyers are, you know, digital people. These agents are analog people, they’re only going to be able to represent sellers. But I’ve always said, you know, the kids who are going to benefit eventually from parents selling their house should take charge of this now. It’s a digital age.
I mean, don’t give some person who’s just been their friend for 20 years, just because they’ve been their friend the listing. I mean, come on, you know, you got to do it right.
[00:29:00] Drew Thomas Hendricks: Plus that’s also an easy way to preserve your friendship because most people know three or four ones that are friends.
[00:29:09] Fred Glick: Especially if you’re, you know, you’re 40 years behind on everything and you’re going to do it some crazy old-fashioned way and just not be you know, hip.
I mean, that’s a problem we have in Southern California compared to Northern California. Northern California gets it. You know, every listing’s got inspections done, all the disclosures, blah, blah, blah. Down here, it’s like they never heard of this. It’s like from another planet. Between that and the escrow companies down here who want you to sign your life away.
I think I did a whole rant on that and I got one going now. Anyway yeah, it’s a wonderful life. You know, we’re just trying to make it easy for ourselves.
[00:29:53] Drew Thomas Hendricks: Yeah.
[00:29:53] Fred Glick: It’d be beautiful if we could streamline and everything.
[00:29:58] Drew Thomas Hendricks: You brought us something interesting about the difference between Northern California, Southern California.
And I’m wondering more about the demographics and René, you might be able to talk about this over the last like couple of years. Have you seen the home buyers age coming down at all? Or are the buyers in Southern California older than the buyers in Northern California?
[00:30:17] René Pérez Jr.: I mean, not really. I think for the most part is you’re not going to see people that are buying a home by themselves.
Be the buyer, right? It’s always, it’s mostly going to be a partner.
[00:30:33] Fred Glick: Two incomes.
[00:30:34] René Pérez Jr.: Two incomes, purchasing a home, right? And there’s creative ways to have it where, I mean, you have two borrowers, right? You don’t have to be married to purchase a home. So I mean, if you have a, it’s always, it’s risky, but there is a way to just join two incomes, you know, two friends get together and that’s, that’s the only way to really do it these days.
Because a single person is not going to have the borrowing power, especially if you look at the
[00:31:01] Drew Thomas Hendricks: Do they do like an LLC and roll their
[00:31:05] Fred Glick: No, no, you can’t. You can’t get. No. You’ll just have an agreement between you. You can’t get financing if you do an LLC.
[00:31:12] Drew Thomas Hendricks: Oh, it would be like a partnership agreement or something?
[00:31:13] Fred Glick: You have to put, you have to put personal names and then have an agreement between you about who pays for what and who can buy out who and all that stuff. Check with a lawyer. I’m sure these are readily available.
[00:31:24] Drew Thomas Hendricks: Okay. So more of a, yeah, I guess you’re right. It would have to be a partnership agreement rather than that. Cause you don’t want to be held non-responsible.
[00:31:31] Fred Glick: Yeah. I mean, you’re going to be joint and severably liable. Meaning if you both go on it and you’re not married and one just wants to get out, you can’t just get out of the mortgage. You have to refinance. So the one person who’s left has to have the income or bring another person on you know, has income buys out the first person, but you got to get a new mortgage. That’s for sure. So be aware of that.
[00:32:01] Drew Thomas Hendricks: If you’re doing that, you need to talk to a mortgage pro and Arrivva mortgage by your answer there.
[00:32:07] Fred Glick: Good throw. Good throw.
[00:32:08] Drew Thomas Hendricks: Yeah.
[00:32:09] René Pérez Jr.: I mean, it’s all a risk, right? Whether you’re married or not married. I mean, yeah, this happened all the time in writing. We are pros for divorce listings too.
I mean, we get it, you know, each side wants and needs something different. So we’re here to navigate those sales as well. And we’re going to get you the most money in any other brokerage out there that’s trying to rip you off.
[00:32:31] Drew Thomas Hendricks: That may be a billboard getting a divorce? Think of a Arrivva.
Not the happiest, but you know. So I can tell that
[00:32:41] Fred Glick: You’re my marketing guy? I mean, I come up with some bad ones, you know, but that was terrible.
[00:32:50] René Pérez Jr.: Well, but it’s actually, so I see a lot of attorney marketing divorce.
[00:32:58] Drew Thomas Hendricks: That’s what I was thinking.
[00:32:59] Fred Glick: Oh, we could, we could advertise the divorce attorneys telling them, look, have more fiscal certainty about what it’s going to cost. Sell the house. Everybody will be happy. We’re flat fee and here’s everything we do. And you don’t have to worry about anything. And we can, you know, have an add on of auctioning off personal items or something. And, I mean, there’s, you know, little things that might have to be done. Getting rid of stuff, de-trashing of places.
[00:33:31] Drew Thomas Hendricks: Well, you can’t come up with a diamond marketing idea without digging through a little dirt.
[00:33:44] Fred Glick: There you go. There you go. You’re getting a real estate mortgage and marketing meeting all in one.
[00:33:51] Drew Thomas Hendricks: All in one. And on that note, unless anybody has any final words, I think we’ve fixed real estate for this day.
[00:33:58] René Pérez Jr.: Mm hmm. That’s good.
[00:33:59] Fred Glick: Got it. Oh, I hope so.
[00:34:02] Drew Thomas Hendricks: I hope so too. Have a good day, everyone.