Transcript:

Steven Jack Butala:

Jack and Jill here.

Jill DeWit:

Hello.

Steven Jack 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 the Valley of the Sun.

Steven Jack Butala:

Today Jill and I talk about why land ownership is ideal against 2023 inflation.

Jill DeWit:

I sleep really well at night. I always have.

Steven Jack Butala:

Yeah, me too.

Jill DeWit:

I always have, the way we buy and sell land. There's nothing better. I don't care what it is. Even over having a safe full of precious metals, seriously, which is good to have too, don't get me wrong. But having land, it's just like, wow. It's different.

Steven Jack Butala:

There's no feeling like it, quite like owning a bunch of land.

Jill DeWit:

Yep. So even if I complain, "Oh, it's not selling fast enough," or you're complaining it's not selling fast enough, hold on a moment. Let's take a step back and realize what's going on here. You're in a good spot.

Steven Jack Butala:

Before you get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free. Last year a ton of Land Academy members came to Jill and I needing extra help to get their blind offer campaigns in the mail. So I took a look at how we were personally sending out mail with our key employees and ultimately made the same people available to Land Academy members to get their mail campaigns out. We now call it Concierge Data and we launched a new product recently called Concierge Data Plus. It allows you to send out or outsource your entire mailer to offers to owners. Give us a call or actually just go to offers, the number two owners.com. Poke around and check it out, see if it's for you.

Jill DeWit:

Cool. Kevin wrote, "Hello. Newbie question. On the Zillow sold comps, why might the time between pending sale and sold be a long time, three months plus? And does that potentially make it a worse comp to use?" I have one reason, right now, Kevin. That's manually entered by a real person who did the listing. That's it. So it's not automatically marked sold or pending. I'm surprised they even put pending in there. Some agents don't even do that. They'll just put listed, price change and then sold because they're busy. They're doing other deals, too. So I take that with a grain of salt because it is totally, like I said, a manual entry if used it all.

Steven Jack Butala:

If you list a piece of property with a real estate agent, they're going to put it on the multiple listing service, the MLS, and they're very regulated on how they input the data. If you've ever posted anything on the MLS or been involved in it, it's a one day process. So there's a lot involved. And they're required by their broker and all kinds of stuff so that when it goes under contract, it goes to pending. When it's sold, it gets removed from the MLS or it gets marked sold. That is absolutely not the case with Zillow. Zillow as a for sale by owner, we can put stuff in Zillow. There's no regulations about taking it off the market when... Jill's exactly right. There's no rules.

So very often people just leave it on there and it's not for sale at all. Or they'll post something that's fictitious. So you have to be careful about how you use Zillow and how you look at the comparison values. The exact same thing is true with Land Watch, exactly the same thing. So there's MLS places, multiple listing service ways to post property, and then freeform, user content driven. Redfin is an IDX feed just like realtor.com. Those are all real estate agent driven with rules. I like to use all of them.

Jill DeWit:

You know what, I'm sorry, I have to just say I don't mean to disagree with you, but I have to disagree with you on something. Yes, they have rules, but once again they're people. Do they make mistakes? Hell yes. How many times have you seen, you go, "Wait a minute,