https://youtu.be/Pd1F2eSm9As
🎙 Passive Cash Flow Podcast EP.196 | Don’t Sell Your House Without a Realtor… Until You Hear This
In this episode of the Passive Cash Flow Podcast, we sit down with Tim Street, founder of FoolProof FSBO, to break down the truth about selling your home without an agent—and when it’s actually a terrible idea.
Tim is a Marine Corps veteran, former Federal Air Marshal, and top-performing real estate agent whose listings sold for 102% of asking price, often going under contract in the first weekend . After seeing homeowners hand over tens of thousands in commissions, he built a system to help sellers keep more of their equity—without sacrificing results.
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💥 What You’ll Learn:
* Why going “For Sale By Owner” can backfire (and when it works)
* The truth behind the **“$30,000 Agent Tax”**
* Why most FSBO homes actually sell for *less*
* How to price your home to create bidding wars
* The exact system to launch a listing in **7 days**
* How to market your home beyond just the MLS
* Real negotiation strategies (without sounding like a salesperson)
* When you should absolutely **NOT** sell your home yourself
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⚠️ Who This Is For:
* Homeowners thinking about selling
* Real estate investors & landlords
* Anyone who wants to **keep more profit** when selling property
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👤 About Tim Street:
Tim Street is the founder of FoolProof FSBO, a homeowner-first system designed to help sellers launch professional listings without paying massive commissions. With a background in the Marines, federal law enforcement, and tech startups, Tim combines discipline, strategy, and real-world experience to help homeowners sell smarter and faster .
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🔗 Learn More From Tim:
🌐 [https://www.FoolProofFSBO.com](https://www.FoolProofFSBO.com)
📊 Take the quiz: /quiz
📦 Investor resources: /investor
📱 IG: @FoolProofFSBO
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🎙️ About the Podcast:
The Passive Cash Flow Podcast helps you build wealth through real estate investing, with insights from experienced investors, operators, and industry experts.
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If you got value from this episode:
👍 Like the video
📩 Share it with someone thinking about selling
🔔 Subscribe for more real estate content every week
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🧠 Topics Covered:
00:00 Intro & Guest Introduction
00:47 Tim Street’s Background (Marine → Air Marshal → Startups)
03:09 Transition Into Real Estate Investing
04:11 Why Real Estate Agents Can Kill Deals
05:16 The “$30K Agent Commission” Problem
06:45 Do FSBO Sellers Actually Lose Money?
08:04 Why Homeowners Can Compete With Agents
09:37 MLS, Marketing & Exposure Explained
10:50 Who Should NOT Sell FSBO
12:20 Who FSBO Is Perfect For
13:56 Time vs Money: Should You Outsource?
15:36 Flat Fee MLS vs Full Strategy
17:10 How to Actually Market Your Home (Beyond MLS)
18:15 The “Neighborhood Open House” Strategy
21:20 Best Platforms to Find Buyers (Zillow, Facebook, Craigslist)
22:56 Saving on Buyer Agent Commission
26:01 Handling Offers, Lowballers & Negotiation
28:35 Why This Works Even Better for Landlords
30:16 Where to Learn More (Tim’s System & Resources)
33:03 Closing Thoughts & Outro
📚 Enhance Your Investing Knowledge:
Learn more at https://www.peoplescapitalgroup.com/
🔗 Follow Us:
📘 Facebook: https://www.facebook.com/profile.php?id=100093318587146
📸 Instagram: https://www.instagram.com/real_estate_investments_nj/?hl=en
🐦 X: https://x.com/PCGrealestate
💼 LinkedIn: https://www.linkedin.com/company/peoples-capital-group
⚠️ Disclaimer:
This is not a solicitation for funds, tax advice, or legal advice. This is not intended to be, and must not be construed to be in any form or manner a solicitation of investment funds or a securities offering. Peoples Capital Group LLC is NOT a United States Securities Dealer or Broker nor U. S. Investment Adviser is a Consultant/service provider and makes no warranties or representations as to the listener or viewer. All due diligence is the responsibility of the investor.
Transcript:
00:00:01:12 – 00:00:07:18
Unknown
And.
00:00:07:20 – 00:00:16:00
Unknown
I.
00:00:16:01 – 00:00:32:18
Unknown
Know.
00:00:32:20 – 00:00:55:14
Unknown
All right, ladies and gentlemen, welcome back to the Passive Cash Flow Podcast. I’m your host, Erin Frank Nieto, and we have an interesting guest today who does something that I always kind of liked. And even though I started in this business as a realtor. But, we’re going to dig into it tonight. We have Tim Street, the expert in for sale by owners.
00:00:55:14 – 00:01:05:12
Unknown
How do we do today? Tim. Erin, it’s such a pleasure to be here. Thanks for having me on. Thanks for putting up with me. And, hopefully we can say some really cool stuff that your audience can get a lot of value out of, but, Thank you.
00:01:05:16 – 00:01:10:22
Unknown
Absolutely, absolutely. And, you know, I have sold a lot of real estate in my day.
00:01:10:22 – 00:01:18:02
Unknown
I, I’ve probably, oh, 300 plus transactions or so. And I actually started in this business as a realtor. Right. And,
00:01:18:07 – 00:01:29:19
Unknown
and I still use realtors to sell deals, but like, I also recognize exactly what they do. I’ve sold a lot of properties as a realtor, and I, I, I kind of also like, no, I could do it myself.
00:01:29:19 – 00:01:47:07
Unknown
I just have kind of bigger fish to fry. So I’d rather outsource the process of actually dealing with the, the sales and like, but I if I didn’t have so much on my plate, I would for sale by owner all my properties, you know, and, but I like your strategy. I like your mindset with it.
00:01:47:07 – 00:01:47:19
Unknown
So,
00:01:48:00 – 00:01:55:24
Unknown
let’s first start off, I know you are a marine. You know, so let’s just talk about a little bit about your background and kind of how you got to being the first CEO.
00:01:56:01 – 00:02:01:20
Unknown
said the FCO, Prince or King, where are you? There. And then I’m just a guy at this point, but I’ll take the promotion.
00:02:02:01 – 00:02:17:22
Unknown
Okay. That sounds cool. Yeah, FSB. Okay. Prince, we’ll call you. He’ll be the prince, right? A little young man. He’ll be a prince. Yeah. There you go. There you go, I love it. Yeah, yeah. I grew up in, Detroit, Michigan. And, it was a just a very just, It’s a good place to be from.
00:02:17:22 – 00:02:32:23
Unknown
I’ll put it that way. I don’t think I’ll ever need to go back to Detroit, but, Yeah, I joined the Marines right out of high school. I could not wait to get out of Detroit. I certainly didn’t have money for college or necessarily the desire. So, yeah, I went in the Marine Corps and, it was it was an awesome experience.
00:02:32:23 – 00:02:49:11
Unknown
It just shaped so much of my, my young life. And, thank God for it. I if I had gone to college as, an 18 year old Tim Street, there’s no way I’d be here talking to you today. I mean, that much responsibility and freedom on my shoulder, or I should say that, like, I would, I would just been awful.
00:02:49:11 – 00:03:09:07
Unknown
So out of everybody like you remember John Belushi from animal House, I would have been that guy. Yeah. Yeah, I think it was. I was him certain nights of college. Yes. Absolutely. My advice to you is to start drinking heavily. So yeah that’s such a good movie. So yeah I ended up after the Marine Corps I became a federal air marshal actually for about five years.
00:03:09:07 – 00:03:24:19
Unknown
And I think that that job was sounded cool at first. And it got really boring because the guys on the ground were just really good at stopping bad guys. So I had zero action. Meanwhile, friends from high school were getting into the startup space, and, I started selling for them. And, one thing led to another.
00:03:24:19 – 00:03:41:15
Unknown
And for the next 15, 20 years, we were doing tech startups. And it was awesome. So much fun. I it turns out I had a knack for for doing sales. I could talk to my really super hyper intelligent friends, translate everything they said and and speak in normal guy terms, like, yeah, and and it was awesome.
00:03:41:15 – 00:03:47:10
Unknown
And I found out a lot of sales was just having empathy for the other person, you know, what does the other person really need?
00:03:47:12 – 00:04:11:01
Unknown
Right. And it’s not about convincing people. It’s not about cajoling or talking people into things. It’s about caring about what they want in life and then putting yourself in their shoes and then crafting your message around that. So that that’s I learned a big lesson there. And, I’ve actually wanted a more tame life. And for anybody who’s doing real estate investing, they’re going to laugh their butts off at me when I tell them that I wanted a little bit more calmer of life.
00:04:11:01 – 00:04:27:12
Unknown
So I got into real estate investing. Oh, yeah. Well, so, yeah. Yeah, it was it was tough. Well, one of the lessons I learned, though, was getting into real estate investing. I would attack it like I was attacking my start up careers. I would have targets, prospects, leads, and I’d go through all of them, and.
00:04:27:15 – 00:04:42:09
Unknown
And I would have a certain, set of conditions in mind that would call a an attractive pop up a property attractive to me or not. And if it was not attractive me, I’d go to the bottom of the barrel. If it was, I’d pursue it, and then I’d pursue it with a real estate agent. I just had bad luck, I guess.
00:04:42:09 – 00:04:58:07
Unknown
Aaron, because three deals in a row got completely destroyed. By the real estate agents I was working with. It couldn’t negotiate there. We have a paper bag. I mean, it was. It was really difficult. So I went and got my own license, invested in my own properties, and, that led me here today. I’m a licensed real estate agent.
00:04:58:07 – 00:05:16:08
Unknown
And instead of, you know, helping people sell anymore, I’ve decided to just kind of give my systems away and help other people try to do the best they can to sell and and maybe need a little bit more money out of the deal on the end. Yeah, absolutely. You know, because, you know, I, I look at these closing HUDs and there’s been times, you know, I’ve bought and sold like apartment buildings.
00:05:16:08 – 00:05:36:17
Unknown
And the broker is making more money than I’m putting in my pocket. Right. And, after I pay my investors and the lender and the other service providers and so on, and I’m like, thinking to myself, man, what? Why did I, go to the other side of the table? Because I started as a broker. So I was a realtor, you know, and I, I was making decent money for a period of time.
00:05:36:19 – 00:05:54:19
Unknown
But, you know, in the long run, what I do with investing in properties and helping people build their wealth, it is more of a long term gain, you know, and, and a wealth creation strategy rather than a kind of, you know, just quick making a quick commission so that that long term wealth. But, it is it is incredible, especially in commercial real estate too, which is really a different beast.
00:05:54:19 – 00:06:17:07
Unknown
I don’t think your system necessarily applies to that, but I you know, you’re talking about normally a home, homeowner who wants to sell their home. The normal thing we do is we call up your local neighborhood realtor, you know, you agree to a listing contract of paying them 5 or 6% commission, which can be 30, 40, 60, $70,000 depending on the price of the home.
00:06:17:07 – 00:06:26:00
Unknown
I know here in North Jersey, most homes are selling between like 500 to 1.5 million. So you’re paying a you know, 5% of that is $30,000, right?
00:06:26:00 – 00:06:45:13
Unknown
so basically, your system teaches people how to save that $30,000, commission yet still get a strong price for their home. Is that correct? It is. And you know what’s important here to remember is this isn’t about like cutting a real estate agent out of the deal because they don’t bring value to the table.
00:06:45:15 – 00:06:47:07
Unknown
Actually, the opposite is true.
00:06:47:09 – 00:07:05:07
Unknown
Most for sale by owner efforts. They sell like 90% of them. They sell. And the ones that do, quote unquote succeed, they actually tend to sell less than their agent represented competition. So, one might say, well, why in the hell would anybody even consider selling for sale by owner if that’s reality?
00:07:05:07 – 00:07:34:05
Unknown
And, well, it’s because it’s not that homeowners are dumb. And it’s not that homeowners are somehow less capable than their real estate agents. Look, I got my I got my license on the weekend. I mean, of course, I was able to do well because I brought a breadth of experience, you know, that I had before that. But but the fact remained, I was a licensed agent after, taking an online class and passing a very easy test so that that doesn’t all of a sudden imbue me with these magical powers to do better.
00:07:34:08 – 00:07:35:00
Unknown
That’s out there.
00:07:35:02 – 00:07:47:22
Unknown
It’s a it’s a question of education, Aaron. You know, if you and I were getting on an airplane and we overheard the pilot saying, well, I’ve never done this before, but I watched a few YouTube videos yesterday, I wouldn’t be standing on that frickin airplane. You and I would. I think we hightail it off of there.
00:07:47:24 – 00:08:04:13
Unknown
Yeah. That’s what. And that’s what drives me crazy. Say yes on one hand and gosh, you nailed this there. As real estate agents in my industry, that we spent billions of dollars convincing homeowners that, hey, this is too dangerous for you to do. It’s going to put you in legal jeopardy. You don’t know how to price a home.
00:08:04:13 – 00:08:20:23
Unknown
You don’t know how to negotiate. Your default thing should be to pick up the phone and call the the guy who you saw bum sleeping on his face on a bomb at a bus bench. So call that guy to sell your home. You know, whereas I say no. I say actually with a not with the right education, with the right blueprint to follow.
00:08:21:00 – 00:08:43:15
Unknown
You are a subject matter expert in that product that you’re selling. There’s no agent in the world who has made as many breakfasts in that home as you have, who has watched fireworks from the backyard on 4th of July, who has a Thanksgiving dinner there? You know more about that home, too. And in my line of work, even in the startup phase, the familiar road with a project, it was 99% of the battle.
00:08:43:15 – 00:09:01:19
Unknown
You could outsell almost anybody out there if you had an intimate familiarity with what that what you you’re selling. And so in this case, I tell people, listen, it’s a very simple blueprint. And I didn’t do all this on my own. I’m gonna teach you how to the right professionals, title companies, attorneys, you know, closing professionals. I’m going to teach you how to get the home clean professionally.
00:09:01:19 – 00:09:16:23
Unknown
I’m going to tell you how we price it, how an appraiser would price it, give away all those tools so that now I’m coupling what can’t be done quickly, which is learning about this product with what can be done in a process of a sequence or a blueprint, which is how do we do these steps from A to Z?
00:09:16:23 – 00:09:37:17
Unknown
And that makes my customers or my, I should say, my students, very, very dangerous in the real marketplace. They, they, they they would kick my butt, that’s for sure, if I was the agent competing against them. Yeah. It makes sense you know, because I’ve sold a lot of homes as a realtor, especially as a listing agent. And for the most part, you know, you got there’s a story about the home you want to put out there, you know.
00:09:37:17 – 00:09:55:00
Unknown
But really it’s pretty easy to get nice pictures taken on the property, which you can hire someone for like $150 to do. And then you it’s more about just being in the marketplace, you know, and, the age old concern is like, well, you know, to get on the MLS, right? You want to be on the MLS, right?
00:09:55:00 – 00:10:15:24
Unknown
And, the Multiple Listing Service for our listeners that don’t understand, basically the way it works is Realtors are kind of the gatekeeper to the Multiple Listing Service, which is basically the marketplace where you will list residential properties for sale. And the argument is if you’re not on the MLS, then you’re really not getting enough exposure, right?
00:10:16:01 – 00:10:33:08
Unknown
But you, suggest different ways to market your property and, what would that go into? Also, there actually are services now, like, you know, facebook.com, which I want to talk to you about, kind of how that compares to what you do. Is that an additional tool or is that essentially competitor. Right. So but let’s get into it first.
00:10:33:08 – 00:10:40:03
Unknown
So, you know, when you, when you approach a client right here, I am, I’m, I’m selling my home. It’s probably worth a half $1 million here in North Jersey.
00:10:40:09 – 00:10:50:23
Unknown
I don’t want to go through a realtor. You know, what do you suggest that I would do, Tim? With your with your program here, the first thing I would do is I would have you take a quiz on my website.
00:10:50:23 – 00:11:11:15
Unknown
And the reason is going for sale by owner. Just because you don’t want to pay a real estate agent could be one of the dumbest things you ever do in your life. Again, this isn’t about putting a real estate agent out of the deal, necessarily. It’s about what path brings you the most net in your pocket. Bottom line at the end of the deal, sometimes that’s using a quote a licensed real estate agent.
00:11:11:17 – 00:11:27:17
Unknown
Sometimes it’s going under. So let me give you an example. Who would this be horrible for? This would be a terrible idea if you’re in the middle of a divorce. Okay? And the judge is involved in the sell your house. Actually, any time a judge. Maybe it’s a probate, or an estate sale. Right? Maybe somebody died.
00:11:27:19 – 00:11:44:23
Unknown
Any time there’s a judgment against the house, maybe there’s a lead. Any time there’s a legal question involved here, work with a real estate agent and last all the way to the bank. Would you sign their commission check because they just went through legal hell to try to get that hustled and do not try to DIY your own legal stuff.
00:11:44:23 – 00:12:03:00
Unknown
It’s just not worth it. It’s not worth peace of mind. You’re going to lose. So those are examples of when you might not want to. One more example. Let’s say you’re a cardiologist and you make 30 grand a day just by showing up and saving lives. Do you really think I’m going to counsel you that you should take a week off work and prep your house in order to save 50,000 commissions?
00:12:03:00 – 00:12:20:07
Unknown
No. Absolutely not. So there are, and then finally, it’s a time factor. If you’re running three plumbing businesses and you just, you know, your sister in law died and now her husband is living with you, and, oh, my gosh, everything’s cast again. You’re not going to be in a position. Sometimes it’s better to outsource this stuff to a professional.
00:12:20:09 – 00:12:37:12
Unknown
Not if you are like my parents. My parents are retired. My dad is a bigger man than I am. He cuts his own grass. Still he changes his own oil and his cars. The guy loves DIY stuff. They have nothing but time on their hands and another 3050 grand could mean quite a bit to them on a fixed income.
00:12:37:14 – 00:12:57:24
Unknown
This is an awesome option for them. My neighbors, new younger couple, family, they, got a kid that they’re going to have to start putting away money for a college fund. She’s a stay at home mom. The guy goes to work. Again. Perfect example of this would be wonderful for them. Right. Because it’s not just, hey, we’re cutting out, a middleman here.
00:12:57:24 – 00:13:19:06
Unknown
It’s making sure that your scenario. You’re not stepping over a dollar to pick up a penny, right? You’re not saying, oh, I’m not. I’m going to sell my honor. And in the end, you have an actual worse outcome than if you use somebody great in the first place. And I’ll tell you, if it turns out that one of my students, it turns out that they just don’t have the right temperament or the right circumstances to sell on their own.
00:13:19:08 – 00:13:38:10
Unknown
I have a network of agents that I’m sure you do to work I’ve worked with in the past where I will send that people, and they’ve already agreed. They say, listen for your people. I’ll do this at 2% all day long. I’ll give them a full commission point off the top. Just because by the time they get to my partner, agent’s out there in the field, they not only have confessed, hey, I can’t do this on my own.
00:13:38:14 – 00:13:56:01
Unknown
I need a real real estate agent to do this. They totally respect what you do. They try to do it themselves and failed. They tend to be much, much better clients. I mean, their photos are done. They’ve done a pre listing inspection. So real estate agents who work with my students are just thrilled all day long. So at the end of the day they can’t lose.
00:13:56:01 – 00:14:12:18
Unknown
I mean whether they sell on their own or they sell with one of my partner agents are still selling tens of thousands of dollars. Yeah. Yeah. I mean because at the end of the day, you know it is a good amount of work and I agree I, I’ve sold actually a home through a divorce and think my, my real estate agent worked overtime.
00:14:12:18 – 00:14:35:04
Unknown
Oh my gosh. Thank God she’s this is that right. So yes. And I, I probably fall into the third category of just not having enough time, you know, I mean, I’m running a real estate investment firm. We’re we’re growing. We’re buying huge scale properties right now. And I, I’ve a single parent with my son half the time, you know, so I have a pretty busy life.
00:14:35:04 – 00:14:53:13
Unknown
I really don’t have much time to sit around and field calls and inquiries and work the buyers and I just. You know, really. No, no desire to do that. So, Yeah. And and to me, your time is money. So I get it, though, that that’s interesting. What category you fall into there and it makes a lot of sense.
00:14:53:13 – 00:15:14:05
Unknown
Absolutely. You know, because there is a lot of time involved in fielding those calls, moving the buyers, you know, selecting the best contract, negotiating it, getting it out of attorney review, getting the inspections done, getting the mortgage, tying, moving to a closing table, finalizing everything, getting the property prepped for sale. Right. And that whole process as well. There is a lot of moving pieces.
00:15:14:05 – 00:15:36:08
Unknown
It’s like a 3 to 6 month process, that a realtor does, you know, so, I, I prefer the route of just negotiating a discounted commission and outsourcing the service. That’s exactly just like calling a plumber, you know? I mean, although you wouldn’t want to see the pipes I fix, they would keep leaking. So, selling a real selling property I can do, but I just kind of choose not to.
00:15:36:10 – 00:15:58:15
Unknown
So. All right, that’s interesting. Now, what about, FSB dotcom, right? I mean, why don’t I just go to Baucom, pay the $499, and boom, I’ve passed the gatekeepers. I’m on the MLS, I’m on the mls.com, and now I’m in the same marketplace that all the other realtors are. Is is that what you would suggest we do, or is that you’d have a different process.
00:15:58:17 – 00:16:14:09
Unknown
So it could be a good fit for some people. What I, what I say is make sure you understand what you’re getting. If all you’re getting is MLS placement, I mean, you can find people to put you on the MLS for $95 these days. I mean, it’s not tough to find those. Yeah. So now MLS placement is valuable.
00:16:14:09 – 00:16:32:22
Unknown
And I say you should do it. But but I also don’t say that that’s the end of the story. If that was the end of the story, then there would be no, real estate agents out there collecting giant commissions because everybody would just go flat fee. The reason flat fees are only $95 is because they’re not really worth anything more than $95.
00:16:32:24 – 00:16:52:20
Unknown
All it is, is, it’s it’s exposure without expertise. You’re getting syndication, but you’re not getting any intelligence. And how to price the home, what to say to people, how to negotiate with an investor when they call, how to negotiate with another buyer’s agent. When they call, they ask about what their commission is on on this. It doesn’t give you any advice on how to prep your home.
00:16:52:23 – 00:17:10:20
Unknown
You just talked about how important it is to prep. You know, you have about point seven seconds before the person just flicks past your listing and onto the next one in this, kind of TikTok world we live in, right? Yeah. So yeah, yeah, you have to make sure that you’re presenting the home. You have to make sure that the photos are perfect.
00:17:10:20 – 00:17:33:00
Unknown
You have to make sure your listing description isn’t some robotic B.S., about two bed and one baths and a two car garage. It’s it’s a story, you know, it’s, Imagine waking up in your steaming cup of coffee is sitting on beautiful granite countertops as the sun rises over the east facing windows, and the automatic sprinklers are coming on in the backyard, and you see the golf course like you have to tell stories.
00:17:33:00 – 00:17:51:12
Unknown
You have to go above and beyond if you really want to make a difference. So yes, of course, getting syndicated on on Facebook, like hyper hyper effective roof, getting on the most any way you can is a great move. But please do not kid yourself and say that’s worth the effort. And in fact, that’s where the effort starts.
00:17:51:14 – 00:18:15:15
Unknown
The real bingeable is getting into the the path less traveled. That’s in the Facebook marketplace. That’s in the Craigslist. It’s, neighborhood.com. It there’s the one of my favorite things is a, an invite only neighborhood on open house. And I don’t. Do we have time to talk about that one? Yeah, yeah. Did I want to hear about this neighborhood party where we’re going to throw it?
00:18:15:15 – 00:18:18:14
Unknown
Sounds like a lot of fun. I love this,
00:18:18:14 – 00:18:32:23
Unknown
and this is something that nobody does. When I was a real estate agent, this is one of the things I would talk to people about and to a client. I never had one other client tell me. Gosh, you know, everybody who came in here and gave me a listing appointment.
00:18:32:24 – 00:18:51:18
Unknown
Nobody ever brought this idea up, and they all fell in love with it. And here’s why. When you are selling a home in and you publish and syndicate this listing out on the MLS, yeah, it’s going to hit all of the, usual suspects. It’s going to go to Redfin and truly, Zillow and everywhere where people shop online for homes.
00:18:51:20 – 00:19:10:16
Unknown
But the one thing it neglects is the actual boots on the ground, sales effort. And so what was neat about a big brokerage is sometimes you would have, boards, you’d have listings put on the board, and people would get excited about it, and they might start telling their little network of buyers, hey, this new thing just came up.
00:19:10:16 – 00:19:33:09
Unknown
We should take a look. All right, that’s fine. But where it really gets exciting is when you can enlist neighborhood, all your neighbors from your neighborhood, and you say, listen, Aaron, my name is Tim. We really haven’t met before, except in passing. I’m selling my home over on one, two, three main. I know you were in the neighborhood before I moved in, so you have more experience in your pinky than I have in my whole body about what matters here.
00:19:33:09 – 00:19:49:23
Unknown
And that’s why I’m asking for your help. I’m throwing a little tiny get together on Thursday. I’m going to have some light snacks, some wine, some more doves, and I’m inviting some of the neighbors over. It’s it’s a combination going away party. But also, while you’re here, I’m hoping you can give me some advice. What should I do to my home to make it more palatable?
00:19:49:23 – 00:20:04:23
Unknown
How do I make it fit into the neighborhood better? What can I do to make sure that a quality buyer purchases this house? Well, you’ve done a few things here. Number one, you flatter a stranger, and every stranger loves flattery. And number two, you’ve done it for a real reason. Because, you know, they were there before you.
00:20:04:23 – 00:20:22:24
Unknown
And it’s not just, hey, nice hat. It’s what you actually have. Establish your seniority in this place. And I respect your opinion. Having them come over, you’ve just gotten them to invest in the success of yourself. What are they doing now? They’re now Rolodex ING internally saying, God, who do I know? Does Uncle Larry still want to move here from Arizona?
00:20:23:04 – 00:20:43:08
Unknown
Does that nice couple at the church who’s about to have another baby? Do they need a new home? I know they were just talking about this. And now you’ve taken what was a single person effort, assisted by the internet, and now you’ve got ten, 20, 50 boots on the ground, people actively going out there and wanting to see you succeed because they’ve now invested in the success of the home sale.
00:20:43:08 – 00:21:00:19
Unknown
And they care more about who moves into that home than you do, because you’re gone after this house, you’re gone. They have a vested interest to make sure that you have a great person moving in there. And last I checked, usually the great people aren’t the ones that are trying to screw over a seller on a deal. So it’s a huge win in all directions.
00:21:00:21 – 00:21:20:13
Unknown
Yeah. And they want to sell for a high price because it helps their home value. Yeah. Bingo. Absolutely. Absolutely I like that. I like that a lot okay. And then so that that’s fun. That’s like a neighborhood open house kind of in a way or going away party. Launch party almost for your property going for sale.
00:21:20:13 – 00:21:42:10
Unknown
That’s really neat. And then, so, what what else? Any other websites you suggest you put it on and things like that? Not. Not really. Not. I mean, outside again, most, most people, that are in the market for homes, they’re going to set up search parameters that they have locked in already. So as soon as your home, if it hits inside one of those search parameters, it’s going to flag to them already.
00:21:42:13 – 00:22:03:21
Unknown
So, you know, the the really ninja thing here is to make sure that your photos are beautiful. You’ve hired a great listing photographer, you have a 3D tour. People can do care about those things. Yeah, I, I’m kind of hot and cold on the whole drone video thing. I maybe I guess if you have an especially beautiful spread at your home, lots of acreage then.
00:22:03:21 – 00:22:23:19
Unknown
Yeah, sure. If or if you’re like right next to a really, you know, the ocean or a body of water or something really cool like that. Yeah. Go ahead and spend for a drone. But I don’t know. To me, if you’re deciding between a 3D tour and a drone video, I go to 3D tours because it allows out-of-towners to kind of get a first person view of your home, and that proves to be very valuable.
00:22:24:00 – 00:22:43:23
Unknown
Right? And you can put your property for sale on Zillow.com, I think, for free. Right. You could just say this home you sale. Yeah. And that’s I probably like 90% of the buyers are shopping, you know. So, yeah, that’s probably a good place to start. And then like maybe Facebook Marketplace or Craigslist or something like that. You know, you probably get some wacky buyers on both of those.
00:22:43:23 – 00:22:57:24
Unknown
Is that even worth your time, or are you just going to get like a bunch of tire kickers? Okay, you think it is okay, I’ll tell you why it’s worth your time. It’s because the buyers who tend to come to you through Facebook Marketplace or Craigslist don’t necessarily have an attachment to a buyer’s agent. They haven’t signed the buyer’s agent agreement yet.
00:22:57:24 – 00:23:13:08
Unknown
All right. So this is an opportunity now for you to install instead. Maybe if you’re signed by owner and you’re hoping to save on the listing agent commission, or heck, if somebody comes to you out of the blue, now you’re saving on the buyer’s agent commission. And now this is just a one on one deal between you and your title company or your real estate attorney.
00:23:13:11 – 00:23:29:04
Unknown
And there’s absolutely no, real estate agent involved. That’s where you really start to see some of the savings stack up. And so, yeah, if I did gloss over that before that, I have to apologize, because when I talk about listing on a flat fee website, I make the assumption that you’re getting syndicated everywhere, that the sellers of the world.
00:23:29:07 – 00:23:56:21
Unknown
But yes, by all means, Facebook mark, Facebook marketplace, Craigslist, next door.com. Those apps are absolutely huge. Huge lead magnets for sure. Interesting. Yeah. And then just to clarify also what Tim’s talking about here with the buyer’s commission. Right. So in this scenario you are definitely saving on the listing agent, the realtor that lists the home for sale, right, normally charges 2 to 3% on their side.
00:23:56:23 – 00:24:18:04
Unknown
It depending on the, you know, the services they offer and the price of the home. But then there’s also the buyer’s side of the commission. There recently was, I think about two years ago, a big, legal agreement that came through and, and everyone’s always at the end of the realtor, but it’s really not the what it is, is, you know, a buyer can submit an offer, and either they’re working with a realtor or they’re not.
00:24:18:04 – 00:24:41:07
Unknown
If they’re working with a realtor, they can ask the seller to pay part or all of the buying realtors commission. Or the buyer can pay the buyer’s realtor commission, which I actually agree with. I mean, that’s kind of how commercial real estate works. You know, I’m buying an $18.5 million building right now, and I’m paying the realtor that brought me the deal 1% of the purchase price.
00:24:41:09 – 00:25:00:20
Unknown
Then the seller is paying the seller’s agent, you know, 2 or 3% whatever they’ve agreed to. And so we’re just kind of paying and actually my realtors then getting another I think half a point from the seller’s side. So she’s getting one and a half in total. I’m paying one of it. So now that’s commercial real estate. And that’s a lot of time.
00:25:00:20 – 00:25:24:19
Unknown
That was very common before this law took place. But now that’s more commonplace in residential real estate. You’re allowed to do that. And I think it makes sense because when you’re going to sell your home, you know, like I just sold, my primary residence, you know, I had an offer, right? I mean, I would say 500,000, with a 2.5% buyer’s commission or, you know, 475 with no commission.
00:25:24:21 – 00:25:40:23
Unknown
And I said, well, actually, I’m going with the guy for a 500 with the 2.5%, because even after I pay that 2.5%, I’m still ahead of the curve, right? And I’m still netting more money. So it doesn’t matter to me, you know, if I if I can net 45 over 475, I don’t care if a realtor is getting paid or not.
00:25:41:01 – 00:26:01:17
Unknown
I’m getting more money in my pocket and that’s the only money I’m counting. So that’s an interesting strategy there. And, so then once the, offers are coming in, right, you got it out on the internet, you got buyers coming in, you got low ballers, you got tire kickers, and you’re guiding people on how to navigate all those shenanigans.
00:26:01:17 – 00:26:18:14
Unknown
Is that right? Absolutely. Yeah. What I’ve done is I put together a script book, and that’s actually when I got into the business, I downloaded a whole ton of them. A lot of them were useless. Very few of them were good. There’s one, one guy, that, coach me quite a bit. And people probably seen him on YouTube.
00:26:18:14 – 00:26:35:04
Unknown
His name is Brandon Moran, and the guy’s like a wizard when it comes to the spoken word. He’s just so good. And and I used to love listening to that guy take phone calls because he he. What he was so good at was something that I knew was important, but I just didn’t know how to do it as good as he did until I watched him do it enough times.
00:26:35:10 – 00:26:54:12
Unknown
And again, that’s what I talked about for it’s strategic empathy. It’s, it’s empathizing. It’s opening yourself in your heart a little bit. I know it sounds hippie, but like, you have to open yourself up a bit and really put yourself in the shoes of the person that’s on the other end of that phone call. And by doing so, you’re no longer like, convincing anybody of anything.
00:26:54:12 – 00:27:11:15
Unknown
You’re no longer like trying to say, hey, I know better than you. This is saying, listen in your shoes. This is I would feel the exact same way you do. Now, here’s where I think this might be an advantage. And then by just changing the character of what you’re saying and how you’re saying it, it really changes the entire dynamic of things.
00:27:11:15 – 00:27:25:10
Unknown
So that’s why script books are important, and especially the ones I wrote, because a lot of the ones that I read were about, this is how you win, this is how we’re going to we’re going to use NLP and we’re going to we’re going to make them think they’re idiots, and they’re going to come around to us and they’re going to think we’re geniuses.
00:27:25:14 – 00:27:54:03
Unknown
What a stupid way to try to talk to people. And so I went, I rewrote a lot of these scripts. And again, it’s all about framing the discussion about what’s good for them. And I think whether you’re dealing with a tire kicker, whether you’re dealing with another buyer’s agent, or whether you’re dealing with the home seller themselves by putting your so by taking just a second and stopping worrying about what you need out of this deal, what you want out of this deal, you start worrying about what they’re going to get, what they want out of this deal, and then the rest follows.
00:27:54:06 – 00:28:14:03
Unknown
I don’t know how it does, but in my experience, by putting their needs first, your needs somehow, someway, always get that on the on the back side. It’s so that that’s these scripts come these scripts come in handy because when somebody calls you and just outright insults you with with an offer of $200,000 on a on a half $1 million home, you’re of course you’re going to get insulted.
00:28:14:03 – 00:28:35:17
Unknown
Of course, you know, you’re gonna say, who the hell do you think you are? But that’s not what you should say. Yeah. You know, but I that I understand that. And so all of these scripts, the, the, I try to teach people how to really talk about what that other person really wants. And sometimes that person that you started out in a relationship on rough footing ends up some of the most productive, most profitable relationships you can have.
00:28:35:19 – 00:29:13:14
Unknown
That’s amazing. Now, what about a landlord, someone selling an income property, a duplex, you know, three unit for, you know, like a small multifamily property? Do you think your program works for someone like that? Oh, for sure, it actually works better. And here’s why. You know, I own properties myself and what I, what I know and what you know, and probably most of your audience knows, but what retail investors my mom and dad don’t necessarily know is that every dollar I save when I sell, when I when I turn over an asset, when I liquidate myself out of something, every dollar I save because I use leverage so heavily, I’m probably that dollars
00:29:13:18 – 00:29:36:22
Unknown
maybe worth five, ten, $100. It’s not just me saving a dollar, it’s me getting $100 of buying power into the next appreciating asset I buy. So if you’re a landlord, if you are, somebody who owns Airbnbs and you’re divesting your 1031 and going to something else and being able to squeeze every last penny of revenue out of that deal is is so important.
00:29:36:24 – 00:29:58:19
Unknown
It’s more important to you than it is your mom and dad, right? Right. The consequences are literally 100 x. So yes, by all means, if I’m dealing with landlords, this is even a better story to tell them because landlords, Airbnb owners like myself, people out there who really need to see their dollar work for them, they find a lot of the advantage.
00:29:58:22 – 00:30:16:03
Unknown
They get a lot bigger of an advantage by saving that money and putting it into the next project. And just, you know, my mom, dad or my my nice newlywed couple neighbors. Yeah, yeah. You know, it sounds really interesting what you have to offer here. I’m going to check out your website a little more and learn more about your services here.
00:30:16:05 – 00:30:30:15
Unknown
And your, you know, your, the, scripts and so on that you have. I think for me, it’s just the time is is the hard part, you know, but I’d like to if at some point I slow down, you know, I’d like to be more because I know how to be a realtor. I’ve been a realtor.
00:30:30:15 – 00:30:51:24
Unknown
Like, I’ve done tons of transactions. So, like, it always irks me a little bit when I pay an agent to sell a property. But I do like, you know, just outsourcing the whole service because I also know how much work it is, and I know how busy I am. And there’s really I would be doing myself a disservice because I’m not really going to be able to handle all the leads and the, the Da, and it’s going to be basically we’re going to do better, I think, if we hire.
00:30:51:24 – 00:31:08:11
Unknown
And so I’m torn now though, after listening to you speak. So maybe I’ll do a little more soul searching there. But how can people learn more about you and get in touch with you? So again, the best thing to do if you’re even considering going down this path, take the quiz, go to my website. It’s full proof.
00:31:08:11 – 00:31:30:02
Unknown
Cisco.com/quiz. Full proof. As I tried to make the program as full proof as possible. And it says Bell is FSB. It stands for For Sale by owner. So go to full professor.com/quiz. And actually for your audience here I actually put together something special. It’s it’s I call it my investor powerpack. So if they went to full proof facebook.com forward slash investor.
00:31:30:08 – 00:31:57:03
Unknown
It speaks to why investors should be even more serious about taking control of this. Because I’m not even saying you should necessarily do this yourself. Once again, Aaron, you’re a special case because you’ve sold 300 homes. Again. You know this, like the back of your hand, but some folks in the audience giving them just a baseline understanding of what really happens behind the scenes, what the reality is by them going through this and understanding what has to happen from A to Z in a home.
00:31:57:03 – 00:32:14:01
Unknown
So they become a very, very dangerous consumer. And I mean that in a good way. They’re not going to be susceptible to any BS or theater that a real estate agent throws at them. They’re going to understand what really happens and who’s really doing what. And then of course, they could just decide, hey, this is for me, it’s not for me.
00:32:14:01 – 00:32:30:14
Unknown
And if they need a referral to an agent who still going to represent them at a reduced rate, I’m happy to make that introduction. Yeah. That’s amazing. Yeah. Most of our listeners are landlords and investors. So that’s great that investor, we’ll put that in the show notes. But one more time, Tim, what’s that site for the investors there.
00:32:30:16 – 00:32:47:19
Unknown
So it’s w WW the full proof facebook.com forward slash investors. Or you could go to any of my socials. You’ll find me on there. It’s full proof as well as my handle across the board. So YouTube Instagram Facebook search me on you to full proof as well. You’ll find me there. And I put out content literally every single day.
00:32:47:24 – 00:33:03:21
Unknown
I give everything I do away for free. I do have a paid course, but I talk everybody all the time. You don’t need my paid course. You just. You see. Listen what I say on YouTube. I don’t hold anything back. I don’t hold anything back on my podcast. I really do just deliver everything I can for everybody to get beautiful.
00:33:03:22 – 00:33:20:11
Unknown
All right. And we’ll put that link in the show notes. Our friends. Make sure you send that over to me. Tim, if you haven’t yet. And, we will put that in the show notes. You can click into that website and learn more about what Tim has to offer. You. Take that quiz. Right. You never know. I mean, I know plenty of landlords that have a little more time than me, and I think this might be a really good fit for them.
00:33:20:11 – 00:33:41:23
Unknown
So hopefully they listen to this episode and get some value out of it. And to our listeners who are gaining value from the passive cash flow podcast, share this with a friend, share with a colleague, share it with someone you know who thinking about selling their home. A landlord who sells properties from time to time. You know, and someone that’s just me, even your parents or your friends or colleagues that you know, are maybe going to sell their home down the road.
00:33:41:23 – 00:34:03:00
Unknown
And this could be stopping them from going ahead and doing that. And if you’re enjoying our episodes, you come out with a new episode every two weeks here on the Passive Cashflow Podcast. Subscribe on YouTube, subscribe on Spotify, iTunes. We’re on all major platforms, like and share. We are always looking to create good content. If you are a guest or you know a good guest, write to us and suggest them for the show.
00:34:03:06 – 00:34:19:11
Unknown
And of course, my name is Aaron Fred Nieto, the co founder of People’s Capital Group. We help people passively invest in new Jersey apartment buildings. We’ve been doing this about 13 years now. So we’re actually buying a building right now a nice classy building. We’re buying for about $6 million below how much it cost to just build it.
00:34:19:11 – 00:41:58:09
Unknown
So. And it was built about a year ago. So that’s, a big discount on the replacement cost of this asset. So beautiful Class-A building here as well. Learn more about that. Go to People’s Capital group.com. Thank you so much for coming on the show. I appreciate your time my friend. Thank you. And it’s been a pleasure. Thanks for having me on.
00:41:58:11 – 00:42:21:09
Unknown
At People’s Capital Group, we help you invest in real estate. Build your wealth by owning professionally managed apartment buildings in the northern new Jersey market. We want to show you how owning real estate is attainable, even for the busy professionals that don’t have the time or experience investing in real estate. Now we only work with select people who are serious about building wealth.
00:42:21:13 – 00:42:25:13
Unknown
So find out if you qualify at Peoples Capital group.com.
