When to Buy a House

Authentic Business Adventures Podcast

Randy Lenz - Real Estate Agent Extraordinaire On the Cost of Change: "It's a little bit daunting right now because some of the new people coming in have no clue how they're even going to get paid." We all need someplace to call home and for those trying to live the American Dream, that means buying a house. But with some recent changes in how real estate agents get paid, interest rates going up and home prices not really dropping, the market is a tumultuous place to do business. Randy Lenz is a real estate agent with decades of experience. As of this year, he has seen it all. We're lucky enough to hear some insights as Randy shares his thoughts on the current market conditions influenced by changes in interest rates, the impactful rise of online platforms like Zillow, and the shifting dynamics in property listings and agent commissions. We’ll explore how these factors are reshaping the way realtors operate and the implications for buyers and sellers in the Madison area and beyond. Randy also discusses the potential future changes, including the impact of artificial intelligence and other technological advancements on the real estate industry. Listen as Randy explains the best time of year to buy a house, the best time of year to sell a house and how to navigate the minefield that is real estate. Enjoy! Visit Randy at: https://www.realtor.com/realestateagents/56737bd67e54f701001dd179 Podcast Overview: 00:00 Excited about first house, interest rates fluctuate. 05:13 Realtors face challenges with keys and commissions. 06:27 Home buyers will struggle due to spending habits. 11:42 Realtors face real expenses for their work. 13:36 Housing prices soar, making it unattainable for many. 16:50 Flexible timing benefits buyers in our market. 20:23 Zillow dominates market, inaccuracies frustrating for buyers. 23:26 Realtors essential for immediate market response. 25:55 Realtors uncomfortable representing property they haven't seen. 30:08 Get broker's license, open real estate company. 34:55 Buyer's agents may undercut fees, risking inexperience. 37:41 Investors bought cheap, rehabbed, and sold for profit. 38:46 Market shift due to rejected low offers. 43:20 Income determines housing affordability, market correction expected. 47:07 20% belief, 20% disbelief, 60% indifferent. 50:44 Willingness to learn affects pay and prices. 52:21 Office lease abandoned due to lack of foot-traffic. Podcast Transcription: Randy Lenz [00:00:00]: Realtors aren't stupid. I had a house once that I listed across, from a graveyard. I mean, one of the Next said, quiet neighbors. James Kademan [00:00:08]: You have found Authentic Business Adventures, the business program that brings you the struggle stories and triumphant successes of business owners across the land. We're locally underwritten by the Bank of Sun Prairie. Downloadable free audio episodes of this podcast can be found at drawincustomerscom at the podcast link. Today, we're welcoming slash preparing to learn from Randy Lenz. Randy is in real estate Randy he's gonna teach us all the things about all the changes in this crazy, crazy real estate world. Randy Lenz [00:00:37]: That is true. James Kademan [00:00:38]: Randy, how is it going today? Randy Lenz [00:00:40]: Not bad, James. James Kademan [00:00:40]: Good to Randy Lenz [00:00:41]: see you again, my friend. James Kademan [00:00:41]: How are you? You? I'm doing well. I am looking at the market. I look at the market every single day for what's for sale and all that kind of stuff, just dabbling in there, seeing what's going on. Randy Lenz [00:00:51]: Turn it off, James. It's gonna make you crazy right now. James Kademan [00:00:53]: You know, I just feel like maybe I'm just grossly underpaid or it's just a weird it's a weird dynamic. Right? Interest rates were way way low, then interest james rates went what I considered,