Real Estate Mogul Barbara Corcoran Visits Discover St. Cloud Florida Podcast
Real Estate Mogul Barbara Corcoran Joins The Discover St. Cloud Florida Podcast With Jeanine Corcoran As The Host
Jeanine Corcoran is actually Barbara Corcoran’s babysister. This will be the 16th episode of the DiscoverSt. Cloud Florida podcast. The Corcoran sisters will talk about the real estate market nationwide aswell as in Saint Cloud, Florida market.
Barbara Corcoran the real estate mogul was welcomed to the showby Jeanine Corcoran. She is the broker of Corcoran Connect. Barbarahas looked forward to being on the Discover St. Cloud podcast andsaid what a pleasure it is to be on the show with her sister.
Real Estate Mogul BarbaraCorcoran Visits Discover St. Cloud Florida PodcastVideo
Jeanine said Saint Cloud is a small town that has a downtown, cobblestonestreets, mom-and-pop retail stores, a marketplace every month, andno big chain stores. Jeanine asked Barbara what it was about smalltowns that people love?
Barbara replied that it represents a dream of America. Smalltown living represents so many good associations and peoplegravitate to that. People are moving in large numbers from theNortheast to Florida for many distinct reasons. There are fewerCovid restrictions and when it comes to investing, there are fewertaxes for people with big money. Finally, it’s the sunshinewhich is an obvious attraction.
Jeanine moved on to the inventory shortage in the real estatemarket. Jeanine said there is less than one month’s inventoryin St. Cloud, FL. The lack of inventory seems to be nationwide.Jeanine wanted Barbara’s opinion on her thoughts about thelack of inventory.
Barbara Corcoran Has Been In Real Estate For 50 YearsThis Is The Wildest Market She Has Seen
Being in real estate for about a half of a century, Barbarastated what she is seeing by far is the wildest market she has everseen. She said over the past year that prices are up 19%. Nobodybelieved it would last this long. People are fearful thinking themarket will tank. She said she doesn’t see tanking any timesoon.
Barbara continued that it is mind-blowing to see home pricesgoing up to the levels they are currently at. As an example,Austin, TX had a 40% increase over the last 12 months whileJacksonville, FL is up 31% over the last 12 months.
The current market has sustained itself for 2 plus years with nosigns of slowing and homes prices will climb over the next 12months. Jeanine said that experts in real estate, including hersister Barbara Corcoran, are saying that the real estate marketwill continue to be hot in the immediate future.
Jeanine asked Barbara if the real estate market will crashagain? Barbara answered no. This is a very different market todaybecause of the roots that it stands on. There is a clear differencebetween the people who are buying real estate in this market versusthose who were buying it back in 2008.
The Real Estate Market Crash In 2008 Had A DifferentSet Of Circumstances
Barbara stated that in 2008 the circumstances were different.Lenders were reckless with no parameters which allowed anyone toget a loan. Back then there were investors that were flipping homesone after another. The real estate market was quite different backthen. All these factors were bad for the market. You don’twant to base a market on this with rising prices.
Today’s market is different Barbara said, we havequalified buyers that are supporting the market in the right way.She has confidence because of this. The banks aren’t givingout loans that are more than people can afford. As a result, thefoundation of the market is completely different.
Barbara added that covid has caused people to examine what istruly important in life. What they have come away with is where youlive, and what you do are the two most important things in life. Asa result, many people have re-evaluated where they want to live andwhat they want to do. They have realized there is nothing moreimportant in life.
Barbara Corcoran Was Asked How Do Real Estate AgentsLand More Listings?
Barbara Corcoran Shark Tank investor was asked by Jeanine aboutwhat guidance she could relay to real estate agents in order toland listings? Barbara stated it is one’s ability to secure alisting from the culmination of all the things that the agent hasdone well throughout their career. An agent must have confidence,they can talk about their impressive sales which help withcredibility and win over the seller as a result of their experiencein real estate. A real estate agent must commit to becoming greatat their craft.
Barbara said that becoming great has to be earned by hard work.It is not magic and is not handed to you. The one common trait forbeing not only a successful real estate agent but a success inanything is the desire and ability to hustle. You won’t getwhere you want to go in life if you are not a hustler. She knowshustler is the wrong term here, what it really comes down to ishaving the ambition to go after it.
Jeanine said having the hunger to go get it. Barbara replied,yes, hunger is everything. Having hunger is more important thanneed. Barbara gleaned many years ago from facilitating a focusgroup that people want to associate with people that remind them ofthemselves. Whether it is a wide net or narrow, what iscertain is everyone has an audience of their own.
When Barbara became aware of this, she stopped looking for thesecret sauce of how to close more listings. Instead, she became abetter matchmaker for her clients with her sales agents.
How Do You Land The Winning Bid?
Barbara was asked by Jeanine if there was a unique strategy thatwould help an agent in securing the winning bid for their buyer ina multiple offer scenario? Barbara said, yes, there is. It involveshaving the real estate agent put in their absolute best effort.
Every experienced and capable agent knows how to close a bid,Barbara said. To close the winning bid is to get the highest bidwith no contingencies. Teaching buyers to lead with their best isessential. Barbara taught her agents to ask the buyer “atwhat price would you be regretful that somebody else gotit”?
Jeanine responded and said that is the same question that sheasks. Genius runs throughout the family, Barbara said. She addedthat it allows the buyer to pause for consideration. This pausehelps provides comfort when they raise their bid. We don’twant people regretful, so it is a just thing to do. The next housewill only be more expensive as the market will not be going downanytime soon.
Whether a person has all cash or not when it comes topositioning your bid is a misnomer. What it means is there will beno contingency on financing.
We hope you enjoyed our talk with real estate mogul BarbaraCorcoran. The Discover St. Cloud Florida podcast has as one of ourgoals to keep people up to date with the real estate market locallyin St. Cloud FL. Video source.