YOU NEVER FORGET YOUR FIRST TIME

OMS & S! (OH MY STARS & STRIPES!) I want to welcome y’all to the first ever Glennda Gazette newsletter! I’m so excited that you decided to join me here! By signing up, y’all are going to be the first, the very first to know everything Glennda! This newsletter is a passion project for me. An opportunity to have the stars align in all of my worlds.

Whether you’re a buyer, seller, investor, real estate agent, or just a stray Glenndaratti, this newsletter is for you and I couldn’t be more pleased to have you along for the ride. So… whether you are real estate curious, life curious or just trying to figure out your next move… I am here to inspire, inform and impact you!

In this week's episode… We are going to talk all about firsts!

I have been selling real estate since Jesus was a baby, so I can tell you one thing for certain—that wherever the real estate market is today, it will be somewhere different next week, next month, next year! I cannot predict the future and y’all know, my crystal ball is foggy every day except today. For example, how will the collapse of Silicon Valley Bank impact mortgage rates? It’s too soon to know.

However, I do not believe in bad news. My name is Glennda Baker and only amazing things happen to me, so I am not going to scare anyone with the recent statistics that the share of first time home buyers is at the lowest level in four decades, or that the average buyer’s age has risen to 36, the oldest ever recorded since we started tracking that data. And I won’t mention that it has been unusual to see housing inventory fall throughout February, instead of its usual rise from January lows.

No, ma’am; we are all about positivity and light in Glennda’s universe! We’re only going to worry about what we can control.

One of the things we can focus on is getting our buyers into their first home. It’s up to us to educate our first-timers on all the options available because owning their own home is the surest way for them to build wealth not just now, but for generations to come. (And wouldn’t it be nice for them to finally be able paint the walls any color they’d like, and not just Landlord White?)

The best thing we can do is to make sure we’re well-versed on our state and local down payment assistance programs for first-time buyers. How many of our potential clients aren’t even looking because they don’t know the FHA loans can get them into a home of their own for as low as 3.5% down?

More and more, the role of the real estate agent is changing. Our jobs are a lot less about being a tour guide now—heck, a potential buyer doesn’t even need us to peek inside a house anymore. Instead, it’s crucial that we add value by being trusted advisors, there to provide that wise counsel on the largest investment in most people’s lives. We’re who buyers must count on to negotiate the terms and forecast the value of that investment, again, not just for their futures, but for their children’s. That’s why it’s on us real estate agents to be knowledgeable on important information like assistance programs, especially for Bobby & Suzie, the everyday buyer!

What’s so great is that if you’re not sure as an agent of all you can do for your clients, I want to be your resource for all things real estate! My agent videos are meant to bring us all up to speed, because we are the key to the buying and selling experience, regardless of what the headlines tell us is happening in our markets. No one knows locationally accurate data and the intimate details of your community like the neighborhood real estate agent!

See? It’s just that simple. 

Sometimes you have to see and hear the advice for it to really sink in. In this inaugural section of Sugar & Spice advice, I’m going to break down what it takes to sell your first home… So, let’s get to it!

Don’t be afraid! Buyer, seller, investor or agent… Everyone starts somewhere!

We’re talking about firsts today, so I’m going to tell you about my first sale. Before we get into it, I must reiterate that real estate is not for the faint of heart, let me just assure you of this.

When I started in real estate back in 1992, the first house that I actually got under contract and sold belonged to my husband's cousin. His cousin was terminally ill. All involved knew that he was terminally ill as he was going through the process of liquidating his assets. By the way, taking care of this planning in advance is one of the kindest things you can do for your loved ones.

Between contract and closing, the seller passed away. While expected, his death was a blow, but we’d all prepared for it because he had executed a power of attorney; me, being all of a month in real estate thought, No problemo.

The closing attorney calls me and she says, “Hey, Glennda, we’re just checking in to make sure everything's good for closing.” Even though we were sad about his passing, I was happy to be able to help the family, so I told the attorney with all the confidence in the world, “Everything's good for closing.”

Then she asks, “Will the seller be there?”

Um, no, the seller was definitely not going to be there, but no one knew because I had not told them he’d died.

I said to the attorney, “Nope, the seller won't be there, but don’t worry, we've got a power of attorney.” I was so pleased with all my forethought, figuring we’d covered every eventuality.

There was a long, awkward pause on the line and then the attorney finally asked, “Glennda, is the seller dead?”

I said, “Yes, but we have a power of attorney.”

When she replied, “The power of attorney died when the seller passed,” I nearly passed straight damn out! How did I not know this? And what was I going to do?

Fortunately, we were working with an amazing closing attorney who was able to get the will probated so we were actually able to close on time. I was so blessed to have had such great support behind me. I would have never ever been able to close that deal without it.

Whether you’re selling your first house or your five-hundredth, my advice is to always surround yourself with people who pull your tail out of the slime. Because the moral of the story is there is never a problem till there is a problem!

Have you got real estate questions? Because I have real estate answers. I also have answers to questions about ponytail girls, the multipurpose of grapes, thank you Adriana Locke (one of my favorite romance novelists), and if you want to keep a woman from losing her mind, don’t mansplain, but maybe we’ll just start with real estate for now.

That’s a great question, Casey. Here’s what worked for me:

Oh my stars, I could not be more excited to introduce the first of my real estate gurus who’ll be sharing their advice. I had the distinct pleasure of talking to one of the stars of Million Dollar Listing Los Angeles, Mr. Josh Flagg!

This fabulous man began his real estate career in high school (what?!) and he worked his way up to being one of the top brokers in the entire country, recognized by both Forbes and The Wall Street Journal for being the best of the best. He just published a book with Harper Collins called The Deal: Secrets for Mastering the Art of Negotiation, which is a must-read for anyone looking to hone their craft.

Since our theme is firsts this week, I asked him about his firsts and here’s what he had to say…