How to Buy Your First Parcel of Land (LA 1679)
Transcript:
Steven Jack Butala:
Steve and Jill here.
Jill K DeWit:
Good day.
Steven Jack Butala:
Welcome to the Land Academy Show, entertaining land, investment talk. I'm Steven Jack Butala.
Jill K DeWit:
And I'm Jill DeWit, broadcasting from the Valley of the Sun.
Steven Jack Butala:
Today, Jill and I talk about how to buy your first parcel of land, the ever present question.
Jill K DeWit:
Yeah. People watch, they hear us, they see us. They're like, "I can do this. Okay. What do I do? Ready, I'm here. I showed up. What do I do? Is there a list somewhere? Do I just pick from them?"
Steven Jack Butala:
Keep going. This is great.
Jill K DeWit:
Do I just, I don't know, go online and pick one that looks good to me and just call the person, just call the agent? Is that the best way? And they just handle it all. I just write a check.
Steven Jack Butala:
I'll tell you a hint, and we're going to obviously cover this all in just a few minutes here. The secret to buying your first piece of land is in our ebook. If you haven't downloaded our ebook, even if you're a long time Land Academy member, it's like 10 or 15 pages, I think. It's just blow through a read, but it tells you how to get your first land deal done fast. Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free. Please don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.
Jill K DeWit:
Steven wrote, "Hope the holiday preps are going well for everyone." So this is obviously from a couple weeks ago. "A question I'm curious about. When listing with a flat fee MLS service, do you provide for the buyer's agent commission?" I have lot to say about this.
Steven Jack Butala:
I know you do. It's perfect. I'm going to zip it here. You go for it.
Jill K DeWit:
"I have had some horrible experiences with unprofessional realtors. The problems have been with the poor quality of the listings they prepare."
Steven Jack Butala:
Unprofessional.
Jill K DeWit:
I know. And in parentheses he wrote, "Why don't you use the pictures I gave you?"
Steven Jack Butala:
Unprofessional realtors is a-
Jill K DeWit:
I know, we could talk for a whole nother month.
Steven Jack Butala:
That's a redundant sentence, unprofessional realtors. Go ahead.
Jill K DeWit:
"Use the pictures I gave you, the ignorance of marketing outside the MLS." I know.
Steven Jack Butala:
And out and out laziness.
Jill K DeWit:
"And the out and out laziness. If you get an offer on my property, forward it the same day, not the next week. I could go on and on. I like the flat fee"-
Steven Jack Butala:
I wish you would.
Jill K DeWit:
"I like the flat fee because I can control the listing details. I've been offering buyer's agents the full 3%. No problem paying that if they bring a buyer. Do you guys think it makes any difference on the sales end to give the realtors their cut on the flat fee listing?" Okay. So here's what-
Steven Jack Butala:
I like fat fee listing. I like your way better.
Jill K DeWit:
Thank you. So Steven's talking about companies like Broker Direct MLS, and we've had other local companies that we've used. So what the heck are we talking about? Well, there are a number of places, brokers that say, "Hey, look for a flat rate fee, I'll put it on the MLS for you. You're doing the work. I'm not getting commission, but you can use my licensure and everything. This is all legal and legit. And through me, by paying me, I don't have to get a commission. I'll just take a flat rate. I'll put it on the MLS for you."
Steven Jack Butala:
It's a tech company.
Jill K DeWit:
And some of them, they might help you with the work. I'm sure there are people out there that do that. Most of the ones I work with, and this is the way I like it anyway, they just say, "Here's the paperwork. Fill it out how you see fit,