Penny Crook from Canyon Title joins us this week to share her thoughts about the current state of the real estate market in the Denver area.
We also dive into the recent NAR ruling regarding agent commissions and discuss the possible repercussions of the coming changes and the effects on the real estate industry.
Get key insights from one of the industry's best!
Check out Canyon Title: https://www.canyontitle.com/
Penny joined Canyon Title Company, LLC, with more than 15 years of title experience. She got her start working in title and escrow operations. Through commitment and focus she grew a national REO division to the point where it attracted one of the largest independent national title insurers to acquire Penny and her team. From there, she spent the next 10 years in sales and client relations management. She has been an integral part of growing businesses and increasing revenue by creating a unique value exchange with her vast network of commercial and residential clientele. By keeping her finger on the pulse of the real estate market, Penny's focus is to add value through an unwavering commitment to ultra high speed and top quality service. She understands the life blood of this industry is the relationships that develop by building trust and confidence with her business partners.
Show Outline:
1. Introduction and Market Discussion (00:05-01:40): The meeting starts with a discussion about the real estate market and the importance of staying proactive and continuing to make connections and market oneself.
2. Statistics and Market Trends (02:03-07:31): The participants discuss some statistics related to the real estate market, such as the increase in the number of days properties stay on the market. The data is sourced from the Denver Metro Association of Realtors.
3. Nar Ruling and Changes in Compensation (14:12-29:34): The focus shifts to the Nar ruling, which refers to changes in how compensation works for real estate agents. The participants discuss the impact of this ruling, including the need for agents to have conversations with buyers about their value and services before entering into agreements.
4. Making Homes More Affordable (29:34-33:59): The conversation briefly touches on the White House's efforts to make housing more affordable and increase homeownership opportunities. The specific ideas and strategies are not mentioned.
5. Implications for Title and Escrow (36:18-37:51): The participants discuss the implications of the Nar ruling on the title and escrow side of the real estate transaction. It is emphasized that escrow officers and title professionals need to be aware of the ruling and understand who is responsible for certain costs.
6. Adapting to Changes and Closing Deals (38:31-42:48): The participants emphasize the importance of adapting to the changing landscape and working together to get deals closed. They encourage agents to focus on their value proposition and maintain good communication with clients.
7. Conclusion and Call to Action (44:06-45:20): The meeting concludes with a thank you to the listeners and an invitation to subscribe to the show for future episodes.
RJ Baxter
Intercap Lending
http://www.cohomesandloans.com
303-670-0137
baxterteam@intercaplending.com
NMLS #395819
