How to Sell and Record the Same Day (LA 1020)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hi.

Steven Butala:                   Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:                            And I'm Jill DeWit, broadcasting from sunny southern California.

Steven Butala:                   Today Jill and I talk about how to buy, I'm sorry, how to sell and record the same day.

Jill DeWit:                            What does that mean?

Steven Butala:                   Go ahead.

Jill DeWit:                            Can you explain what that is?

Steven Butala:                   Sure.

Jill DeWit:                            Okay.

Steven Butala:                   So in every real estate transaction, you purchase a property and then you have to get it recorded at the county. You do some marketing, you resell the property to the new buyer and you have to record it at the county. It just... I think it goes without saying, the faster that this process happens, the better. So what Joe's done and, and what we do now almost regularly because of, I think electronic recordings... Is that what this is about?

Jill DeWit:                            Yes, it is. How are we doing here today?

Steven Butala:                   Exactly.

Jill DeWit:                            Let's take a moment. Before we talk about this for just a second. How are you?

Steven Butala:                   I'm great.

Jill DeWit:                            Okay, good.

Steven Butala:                   What does that mean?

Jill DeWit:                            Well, you wrote the topic and you're checking in with me. I'm just making fun. It's good.

Steven Butala:                   I, you know, the whole, actually, the deeper meaning to this is that the faster the real estate deal, the better.

Jill DeWit:                            Yeah, definitely it is.

Steven Butala:                   To get all philosophical about it, the velocity of money is very much alive and well and at work churning real estate deals. But there's a lot of details that are involved when you're doing this deal, like recording the same day. Some of the backend administrative stuff is really what can drag a deal out, not so much the robet, supply and demand.

Jill DeWit:                            Let's talk about, let's do the question.

Steven Butala:                   Yeah. Okay. Sounds good.

Jill DeWit:                            All right.

Steven Butala:                   Let's take a question posted by one of our members on the landinvestors.com online community. It's free.

Jill DeWit:                            Daniel asked, "What flat rate MLS providers have you heard ever... Have you used that were a value to your land sales? I've heard of the following from other land investors. We have brokerdirectmls.com. I like them. Congress rail with t.com. I like them also, please share your experience."

Jill DeWit:                            Okay, so what this is is in land sales when... Depending on the price point, you may or may not want to do this. So let me just start with that. What it is, is putting your property in the MLS. Back in the day, you used to have to list it with a broker or a realtor or some kind of agent to get access to get into the MLS. And then they would, part of the deal is automatically they get a piece of the action, they get a commission.

Jill DeWit:                            So that would obviously if you have a $2,000 property, a couple of things would make it not cost worthy. One, they don't want to do it because on the commission on a $2,000 property is not much. And B, you only have a $2,000 property. You don't want to give up part of your commission from what you're selling. If you bought it for 500 and you're selling it for 2000 and you have to give 600 to an agent or something,