Beginning with the captivating detail that Carlos Gutierrez is a contributing author for multiple books, this podcast episode discussed the current real estate market, the importance of being fast and responsive, the influx of new realtors, the value of real estate agents, contract changes, relationship building with referral sources, staying in touch with clients, the "Shiny Object Syndrome", the real estate market in Miami, the potential risks of people overextending themselves financially, the potential of a condo bust, the divorce process, and their mutual work in real estate. Raquel Ramirez and Carlos Gutierrez discussed the complexities of their respective real estate businesses, the importance of being emotionally intelligent when dealing with clients, the potential landmines of the market, and the need to stay up to date on contract changes. They also discussed the importance of relationship building with clients and referral sources, the potential of a condo bust, and the government's changes to alleviate financial strain. Lastly, they discussed Carlos' contributions to the book, Florida Man's Guide to Divorce, and the services Raquel offers to attorneys.
Episode Outline:
(00:42:43) Condo Regulations Changes
(00:55:37) Networking with Attorneys
(00:49:02) Divorce Real Estate
(00:30:42) Cash Transactions
(00:12:19) Real Estate Value
(00:36:38) Market Shortage Impact
(00:06:18) Real Estate Slowdown
(00:18:29) Navigating Contract Changes
(00:00:00) Real Estate Market Impact
(00:24:34) Relationship Building
Quotes:
(00:33:25) Just pick up the phone and call. Maybe they'll call you back, maybe they don't want to talk to you. But if they do want to talk to you, they'll either answer or call you back. But it's like I said, I totally admit it's easier said than done.
(00:11:45) It is a double-edged work, but the expectations are there. So, we thrive in just being really quick and responsive now. Everyone around us thinks we should be quick and responsive. Now it's become the standard as opposed to a standout. But I think that's just the way things work.
(00:06:06) Let that be a lesson to the Fed. We need to loosen rates and get people buying properties and get people spending money.
(00:56:15) It's nice to have somebody to commiserate with and then it's a good head clearing moment because you get it off your shoulders and now you can go on with your day.
(00:23:51) You have to be so empathetic. You have to be just so aware of what people are going through to be able to dance around those issues that sometimes are just going to bring so much more heaviness to the transaction.
(00:25:40) But for me, it's a rewarding line of work when we're talking about those complicated cases, because you're able to get these people past this big hump and be able to detach themselves from something that feels a lot like loss.
(00:47:55) Having attorneys at your disposal is not just for divorces.
(00:41:47) People need to call you and just be prepared and say, what do I need to know about what's about to happen in this market?
(00:16:44) We shouldn't be doing that the people who are entrusting their time, their family, their resources to us are hoping that we know a lot more than they do so that they don't make those mistakes, so they don't step on those landmines, so that they get the best deal possible.
Credibility is when people trust me enough to put my words out there in writing, in my opinion. And integrity is when you say you're going to do something, do you do it? So those two things have been really the biggest propulsion in gaining trust and credibility with attorneys.
Blog Post:
Real estate is a complex business, and it can be challenging to stay up to date on all the changes in the industry. This is why it's important to be emotionally intelligent and have knowledge and interest in learning. In this blog post, we will explore the conversation between real estate brokers Raquel Ramirez and Carlos Gutierrez, and the importance of staying up to date on contract changes, relationship building with referral sources, and the potential of a condo bust in Miami.
Carlos Gutierrez is a real estate broker with Coldwell Banker Realty, a candidate for a master's degree in the field of management with a certification in real estate investment and finance from Harvard University Extension School, and a contributing author for multiple books. He serves as an expert witness in lawsuits and is court appointed as a listing agent in divorce, bankruptcy, inheritance, and probate cases. He is a certified probate real estate specialist and has held multiple leadership positions and has been featured in the press.
Raquel Ramirez and Carlos Gutierrez discussed the complexities of their respective real estate businesses, the importance of being emotionally intelligent when dealing with clients, the potential landmines of the market, and the need to stay up to date on contract changes. They also discussed the importance of relationship building with clients and referral sources, the potential of a condo bust, and the government's changes to alleviate financial strain.
The market has seen a slowdown after rates went up, likely due to a psychological component rather than a financial one. Consumer retailers are feeling the shockwaves from a slowdown in the real estate market. If someone is buying a house, they should analyze the market and make sure they are making the right decision. Cash transactions are back, and people are finding cash by remaining in their homes for a certain amount of time and building substantial equity.
Single family homes have been in a balanced or seller's market since 2011, with prices only increasing since then. Condos in Miami have been in a buyer's market, with more condos than buyers, and 6-9 months of inventory. Empty nesters can do well financially by selling in a seller's market and buying in a buyer's market.
It's hard to juggle all the calls, emails, text messages, and visits, and have meaningful conversations with everyone. People are overwhelmed by the number of solicitations they receive, and it's easier said than done to pick up the phone and call. It's important to stay in touch with clients and referral relationships, and offer to do valuations for their cases.
Wall Street Journal published an article in 2015 with the headline "Is there another condo bust coming to downtown Miami?" Raquel and Carlos discussed the condo situation in Miami, with many associations having high association fees and special assessments for maintenance. The government implemented changes to alleviate financial strain, such as waiving reserves and keeping dues low. These changes have caused strain on condo owners, with deferred maintenance and structural issues.
The government is now implementing changes to require reserve studies and 40 year certifications for buildings within 3 miles of a coastal line and three stories or higher. These changes will initially cause financial strain, but will benefit condo owners and homeowners in the future. Raquel and Carlos suggest consulting a realtor to get the right information and resources.
Raquel Ramirez and Carlos Gutierrez are discussing the real estate market in Miami Dade County. In a good month, there are around 2,300 transactions closing. There are meetings, webinars, and other resources available to stay up to date on contract changes. Raquel and Carlos discuss a family they helped who were buying their dream home with a loan specifically for doctors transitioning from residency. The language in the contract changed, giving them seven days from closing instead of 30-45 days from the effective date. Raquel and Carlos were able to protect the family and they were able to get the house.
Raquel has been working with attorneys since 2006 and has learned how to insert advantageous language into offers. Raquel and Carlos discuss the importance of being emotionally intelligent when dealing with clients. Raquel Ramirez and Carlos Gutierrez are discussing the divorce process and Carlos' contribution to the book, Florida Man's Guide to Divorce. Carlos wrote a chapter for the book from a neutral perspective after consulting with marketing and coaching people. Vanessa Vasquez Delara, the law group of Vanessa Vasquez Delara, asked Carlos to contribute a chapter to her book on divorce. Carlos' chapter is chapter five in the book and has a comedic spin. Carlos' contributions to the practice have been gaining trust and credibility with attorneys.
In conclusion, it's important to stay up to date on contract changes, relationship building with referral sources, and the potential of a condo bust in Miami. Raquel and Carlos suggest consulting a realtor to get the right information and resources. They emphasize the importance of having knowledge and being interested in learning, and being emotionally intelligent when dealing with clients. Lastly, they discuss Carlos' contributions to the book, Florida Man's Guide to Divorce, and the services Raquel offers to attorneys.
Resources:
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