Pat and Andres kick off with an all-time sponsor fact drop and a couple of real-world recs before diving into three headline stories: a celebrity sale in Malibu, a Hollywood Hills “new era” purchase (plus a hilarious typo), and a fresh look at commission realities from a mystery-shopper report. Then they zoom out to the big question: why first-time buyers are at historic lows while all-cash deals surge—and what that means for newer agents trying to build a book in a tougher market.

Hot Finds – [00:27:23]

• Andres’ pick (lightweight): a short Spanish poem about what dogs would teach us—joy at the door, long walks, stretch, play, and sitting with someone on a hard day.

• Pat’s pick: Trader Joe’s fall-leaf chips (and a nod to seasonal pancake mix)—perfect on a crisp day.

Rip From the Headlines – [00:31:31]

• Tom Petty’s Malibu estate finally sells after steep price cuts; buyer lands it at $11.2M.

• Dakota Johnson’s Hollywood Hills purchase sparks “new era” chatter—plus the article that called the home a “hoe.”

• Commission check: mystery shoppers say 95% of agents still quote 2.5%–3%, with more pushing 3% than before.

Main Topic – [00:53:13]

• Hook: First-time buyers hit an all-time low (21%) and the median age is 40; meanwhile, all-cash deals hit new highs.

• Why it’s happening: low-rate lock-in, owners staying put (~11 years), and heavier down payments (median 23%) crowding out 5%-down offers.

• What it means for agents: tougher on newcomers who rely on first-timers; focus on consistency, service, and playing the long game as inventory and rates shift.

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