Law Talk with the Flock

Real Estate Talk With Kacy Bell

August 10, 2020 Jeana Goosmann, Kacy Bell Season 1 Episode 24
Law Talk with the Flock
Real Estate Talk With Kacy Bell
Chapters
Law Talk with the Flock
Real Estate Talk With Kacy Bell
Aug 10, 2020 Season 1 Episode 24
Jeana Goosmann, Kacy Bell

Host Jeana Goosmann is joined by guest Kacy Bell, Operating Principal for the Greater Des Moines Market Center and the Ankeny Metro Market Center for Keller Williams Realty. The two discuss what the real estate industry has been like during COVID-19 as well as other real estate topics. In this episode you will learn:

  1. What it is like being an Operating Principle 
  2. How realtors functioned remotely during quarantine 
  3. What the Real Estate market is like in this economy 
  4. Real Estate as a career at Keller Williams 

Learn more about our Real Estate Practice HERE

Become a flock fan and subscribe to our Podcast for weekly episodes! Learn more at www.goosmannlaw.com.

DISCLAIMER: The information in this podcast episode “episode” is provided for general informational purposes only and may not reflect the current law in your jurisdiction. By listening to our episode, you understand that there is no attorney client relationship between you and the Goosmann Law Firm “GLF” attorneys and podcast publisher. No information contained in this episode should be construed as legal advice from GLF or the individual author, hosts, or guests, nor is it intended to be a substitute for legal counsel on any subject matter. Please read our full Podcast Disclaimer.

Show Notes Transcript

Host Jeana Goosmann is joined by guest Kacy Bell, Operating Principal for the Greater Des Moines Market Center and the Ankeny Metro Market Center for Keller Williams Realty. The two discuss what the real estate industry has been like during COVID-19 as well as other real estate topics. In this episode you will learn:

  1. What it is like being an Operating Principle 
  2. How realtors functioned remotely during quarantine 
  3. What the Real Estate market is like in this economy 
  4. Real Estate as a career at Keller Williams 

Learn more about our Real Estate Practice HERE

Become a flock fan and subscribe to our Podcast for weekly episodes! Learn more at www.goosmannlaw.com.

DISCLAIMER: The information in this podcast episode “episode” is provided for general informational purposes only and may not reflect the current law in your jurisdiction. By listening to our episode, you understand that there is no attorney client relationship between you and the Goosmann Law Firm “GLF” attorneys and podcast publisher. No information contained in this episode should be construed as legal advice from GLF or the individual author, hosts, or guests, nor is it intended to be a substitute for legal counsel on any subject matter. Please read our full Podcast Disclaimer.

Goosmann Law Firm :

Do complex legal issues hold you back? Let's get energized and bring clarity to your top legal questions. This is Law Talk with the Flock by Goosmann Law Firm.

Jeana Goosmann:

Hello, I'm Jeana Goosmann CEO and managing attorney of the Goosmann Law Firm here to help you navigate your life and the law as well as, as a business leader. And I'm so excited to have with me here today, my guest Kacy Bell. Kacy, welcome to the podcast.

Kacy Bell :

Thank you, Gina. Happy to be here.

Jeana Goosmann:

Kacy is the operating principle with Keller Williams who has seven offices, three different markets centers, and is a real dynamo. And I am so excited to have you on.

Kacy Bell :

Oh, thank you, my honor.

Jeana Goosmann:

Kacy, what is an operating principle ? And can you tell us a little bit more about your business?

Kacy Bell :

Oh, absolutely. Thank you for asking. So the operating principle is really the role that oversees the bringing up the Keller Williams systems and models to the Des Moines, Ankeny and Sioux City area. We actually have seven locations now. And so I bring the opportunity and I find the investors and I bring the systems and models that Keller Williams offers for our team.

Jeana Goosmann:

Outstanding. And , and I think we share the love of the color red.

Kacy Bell :

We do. It's perfect fit.

Jeana Goosmann:

It really is. So, and Kacy, what are some of those unique models and systems that Keller Williams offers?

Kacy Bell :

That's a wonderful question. And, you know, Keller Williams really is stand out. As far as real estate companies go , It's everything from our education and our training to our interdependent business model, our culture, and most importantly, our agents.

Jeana Goosmann:

Absolutely. And as the operating principle , how many agents do you work with on average?

Kacy Bell :

Oh, that's wonderful. So in all of our locations, we have about 450 associates across all seven of those locations and constantly growing.

Jeana Goosmann:

So, you know, a thing or two about real estate in our area.

Kacy Bell :

I think just a little bit.

Jeana Goosmann:

That's an outstanding team of professionals that you've put together. Kacy, and I'm just so proud of you and your team you're to be commended,

Kacy Bell :

Thank you so much. And , and really they are the ones they bring the culture and the energy and their passion for the consumer and the real estate transaction. Right? Which is what makes it all work.

Jeana Goosmann:

You bet. And 2020, what a year we've been having, there've been so many different issues. And so I really wanted to get your insight as a leader into some of the things that are going on that are affecting the business.

Kacy Bell :

Oh, awesome. So where I would start is, you know, none of us could have ever foreseen what has happened with the COVID virus and shutting down businesses and everything we've been in the involved in the last several months. Now, the real estate industry was really a unique industry in that we were really prepared, unknowingly to do this. Our agents already have the ability to do so many things remotely. You know, we can email contracts and we can work through systems like DocuSign and so we were able to still continue with doing the business and serving buyers and sellers at a high level and still keeping safety and remote in mind. So the elements that we were able to quickly pivot and implement into our business were things like virtual showings, right? And , you know, those types of things that really helped bring buyers and sellers together. In fact, Jeana you might be surprised to know that , our businesses up , and we're very fortunate in Iowa. We were considered an essential business and that included, you know, everyone from the attorney to the appraisers, to the real estate agents. So thank you for all you do. And so we were able to continue with our current pending transactions and continue to serve those buyers and sellers. And we're actually , hitting some records in some areas.

Jeana Goosmann:

That's just incredible. And I think people are a little surprised to hear that the sales are up, but now I don't know if it's attributed, in fact that people were working from home and looking around their house going, I want a new environment or the lower interest rates or combination of all sorts of things. But do you have any insight on that?

Kacy Bell :

Well , um, I do. I think you're right. Actually I think a part of it is people now living in their homes more full-time realizing maybe they want something different is one element, certainly the interest rates staying as low as they are, has been , you know, a big asset. We are very much in a sellers market. In fact, in the Des Moines area, we have a 1.1 month supply of inventory. So , on one hand, that's wonderful. If you're interested in selling your home, I can't imagine a better time to do it. On the other hand, you know, it's a struggle because sometimes you get a listing and within hours you have multiple offers and I say a struggle, that's good news for home sellers, for buyers. You know, you're in competition for those, for those properties. So being ready to make that decision quickly and getting that property quickly, when it comes on the market is really important to them, to the buyers.

Jeana Goosmann:

You bet, and what can people do be ready and move quickly?

Kacy Bell :

Um, you know, I think the first thing is talk to your real estate professional. Get with an agent and let them help guide you get with a mortgage lender and do your, pre-approval make sure that there's going to be no challenges in your qualifying or your process of being able to purchase that. That puts the buyer in a much stronger position to be able to go to that seller and compete and say, you should take my offer because look, I'm, pre-approved, I'm ready to go. I've got the money to close. Um, and I think that's really key for buyers. Again, it's a great time to buy because interest rates are so low. It's a great time to sell because you know, there's a lot of competition driving those prices up a little bit.

Jeana Goosmann:

Absolutely. So what, any other trends that you're seeing in the market right now, as far as it being a seller's market, or are they doing anything unique out there? Are they trying to make these deals come together?

Kacy Bell :

Well, I think there are a couple of things to touch base on. First of all , um, you know, in our area, housing starts new home construction is still strong. Um, I think the one thing we would be aware of is that over 300,000 price ranges aren't moving quite as quickly as the under 300,000 price range. First time home buyers, et cetera, we are seeing an increase actually first time home buyers entering the market. It's usually been running around 32% nationally and we're seeing it about 35% that doesn't sound like a big increase, but that's a lot of people nationwide entering the housing market. So really giving that move at buyer to sell their current home. So we have that inventory and taking advantage on the buy side of the low interest rates as well. One of the other trends that I will speak to you about is , um, you know, one of the circumstances that this COVID shut down has created is there are about 4.7 million homeowners across the country who have their loans in forbearance with their mortgage lender. And if we look out six months to a year, what could unfortunately occur is many of those homeowners will be able once they get back to work and renegotiate or re-establish those loan terms with their current lender. But there will certainly be those homeowners who still haven't gone back to work and might not be able to do that. And my only encouraging word to them is , you know, rather than facing a potential foreclosure , um, it's a good time to sell your home. Nobody wants to, if that's not in your plan, but if things have changed for these homeowners and they need to, don't wait until they end up in that scenario. Get the house on the market, right time to sell. And when you're ready to purchase again, your credit's good and you can jump back into a home ownership position, but just really encourage talk to your real estate professional and let them help you with that

Jeana Goosmann:

Wonderful words of encouragement, as well as advice Kacy. And I think a lot of people are looking for that. And, and what if in this time , people are unemployed and they might be considering a career in real estate. What would you say to those folks?

Kacy Bell :

Bring it on. It's such a wonderful industry, you know, for anyone who has an entrepreneurial spirit who wants to truly run their own business but partner with a great real estate, company who is going to support you and give you the education, the technology, the tools that you need to perform today. Um, you know, Keller Williams, is it for sure. So I would really encourage anyone who is considering a career change to contact a team leader or a leader. And let us talk to you about the industry and help you get started. Um , we do have a pre-licensing school at Keller Williams we call it the center for real estate excellence. So , um, we would love to help you get engaged. We can do virtual classes across the state , so I'm happy to help anyone,

Jeana Goosmann:

Outstanding. And now you brought up a team leader and leadership is a topic that you and I love to talk about together. And I know you're part of a special leadership group at Keller Williams. Can you tell me more about that?

Kacy Bell :

Um , sure, absolutely. So at Keller Williams , um, we have , for example, our , regional directors, and then we have the LPs, the operating principal that's myself, and then our offices. We have our team leaders and market center administrators. And so that organizational chart is very specific and purposeful. It's very unique and different roles, different job descriptions than the typical real estate company. So our team leader position is one where they're here to coach and consult our agents to really help them in growing their business. So they're trained and educated on that, and they can really impact those agents and help them. I was a team leader myself before becoming an operating principal . I was a team leader for 12 years in Oklahoma and , um, you know, helped hundreds of agents get into this industry and then really grow great businesses and support their families and their families and friends in buying and selling real estate.

Jeana Goosmann:

Outstanding. And I am a big fan of Gary Keller and some of his books too. And I know that he helps teach throughout the company, a lot of his principles from one thing to shift. And what are some of the principles that Keller Williams is focusing on right now in 2020?

Kacy Bell :

Oh, that's such a great question, Jeana. So the first thing is when COVID hit and the orders to stay home , immediately came into place. Our Keller Williams international leadership got together and immediately pivoted and said, okay, how do we get out here and really help our agents in this new dynamic, this new world? So, we switched up our training. We went to more virtual training. We had some of our major classes, like bold that we provide to our agents . We've done virtually. Now we're getting ready to start our second virtual class of that, and really to help our agents see how they could impact and make sure their business continued in their support of their buyers and sellers. So in the shift book , um, Gary Keller wrote this by the way, right before 2008, when we were in our last economic shift . And then you added the mortgage meltdown on top of that, right? Um, and he such a student of the industry that he saw this coming. He knew that the growth levels we were experiencing at that time were not sustainable. So we wrote the book and the 12 Tactics of How to Survive a Shift. And it's fascinating, even though the times we're in today are very different. Our hacking challenges have been caused by a very different issue that has occurred, those same tactics, you know, work. And one of those I would share with you is he talks about the gift of the shift, right? And when he's talking about the gift of the shift , he's talking about agents who, you know, what, if they really get involved , uh, servicing here , their clients and customers, and do that. They actually have the opportunity to grow their business during a shift in market , um, because some will get out and some will grow businesses, right? So we're certainly working from abundance and the idea of the gift of the shift and you know, following those taxes to provide the best service to the consumer.

Jeana Goosmann:

Outstanding. Well, thank you so much, Casey, first sharing those insights and leadership tips, as well as what's going on in the industry with us today. I really appreciate you coming on as my guest today.

Kacy Bell :

Oh, thank you so much, Jeana

Jeana Goosmann:

And to our listeners go make it worth it.

Goosmann Law Firm :

Thanks for joining us for law. Talk with the flock by Goosmann law firm. We hope you feel energized and ready to soar past your goals. Become a flock fan and subscribe to our podcast for weekly episodes. Learn more at goosmannlaw .com .