Real Estate Agents Are Starving
Summary
➡ The city of Irvine, California, is facing backlash for spending a large sum of money on a cyber truck for the police department. The Buckland Hills Mall is up for auction due to failing stores and the changing retail landscape. The speaker warns of an impending economic crash and advises saving money and avoiding wasteful spending. Lastly, there’s concern over a large number of adults who are not working, and the speaker encourages finding work as a means of financial stability.
Transcript
But Sun is just coming up and you guys haven’t seen anything yet and I love when things get exposed for what they really are and we’re gonna talk about the real estate debacle today and how you know the truth is coming out right now. So please like subscribe. We have a sponsor in the video and before I get into it I want you to think about this. We have heard so much about the National Association of Realtors lawsuit where people were upset by the fact that agents were, you know, charged with colluding, jamming people into deals, selling houses because they had a better commission over promoting your house and, you know, it created a lot of riffs.
The best thing about this, the best thing about that. Now if you’re a realtor, good for you. Congratulations. You know interest rates dropped this week and you guys should have sold five houses this week but you didn’t. Here’s the best part about this. I want you to think about this and these stats that have come out as a result of this lawsuit. 89% of the people that sold their house said that they weren’t treated fairly. 89%, 89% said that they were, you know, they didn’t didn’t get enough money or something majorly wrong with the transaction and it goes back to the real estate agent.
Now here’s some facts that we’re getting. It costs on an average to sell the average home in the United States of America. It costs you just over $55,000 to sell your house. Wow, Dan, that’s a lot of money. Where do you get those crazy figures from? Well, think about this. The listing agent commission, $11,136. You get the buyer’s agent, which is $10,467. Repairs to your house average about $10,000. Closing cost, eight grand. What do you mean closing cost? I have to pay for closing costs? Yes, you do. Concessions. Now, hey, wait a second.
Listen, I don’t like the pool tile. You didn’t get it clean. You know, either rip it out or give us some money back. $7,200. Moving expenses, $3,250. Marketing, $2,300. And staging, $2,263. Now, it varies, guys. If you go to an area like Southern California where I’m from, it’s much higher. The figures are outrageous when you think about that. But this whole thing is just coming unraveled and you’re getting the truth out there. I want you to think about how bad, what I’m about to tell you is. And think about this.
47% of all real estate agents in the last 12 months have not sold a house. Think about that figure. 47%. Wow, Dan. That’s crazy. Okay. So, when you have figures like that, man, it just gets to a point that you have to look at this. Well, what’s successful? 20% sold two houses in the last year. Think about what I said. One in five real estate agents sold two homes in the last year. Well, Dan, that’s terrible. How do you live on that? Well, now think about this. Not everybody’s selling a million and a half dollar house where they’re making $45,000 times $2,000, $90,000, minus your expenses, minus your broker fees, all that stuff.
These people are starving to death right now. And all we’re being told is how great people are at this right now. Absolutely unbelievable. So, how many people are considered successful? They sell ten or more houses. Ten. That’s not even a house a month, guys, that they sell. Now, we’re only used to seeing Ryan Serhant and, you know, the Josh Flags and the Josh Altman’s of the world sell houses in Tracy and all these people on million-dollar listing moving property. And you’re feeling bad for them. Wow, it’s getting a little tougher in the marketplace.
They haven’t seen anything, guys. This is tough. So, 20% sell that many houses. Now, how many sell more than 25 houses? One percent. One percent of agents sell more than 25 houses a year. 25? That is wild, guys. That is absolutely wild. But what it does is it tells you the severity of this industry and how complete broken it is, but how it’s fallen off. Now, registered real estate agents, there were over 4 million, but there’s been a basically an 18% drop-off in the number of agents in the last year that have quit.
I’m done being a real estate agent. I cannot make money at this. Now, living in Southern California, it’s funny. You get these real estate agents that image is everything. How you look is everything. What you drive, what you wear, everything. I had a friend of mine who dated a woman who ran a tennis club, and I said, well, that’s kind of a different job. How do you run a tennis club? Well, she used to run a real estate office and hated working with the agents. What do you mean? Well, everybody there acted like they were the most successful people in the world and were leveraged to the hill, could not make a living doing this, would go out and buy $750 pairs of sunglasses, which, guys, I’m telling you this right now.
When I wear sunglasses, which is rare, I buy the stuff at the swap meet because I’m telling them, the guy that sets them down and goes, ah, where did I leave those? Imagine buying a $750 pair of sunglasses. Okay? Well, again, you’ve got to look good to show those houses. Do you? Do you really? Okay. This industry is completely broken. You haven’t seen anything yet. Read the stories below on this because people are upset. Now, when you get to areas like Southern California, it gets more and more and more expensive to do this.
You get houses that cost more people want more. People are expecting their houses to sell faster. But the problem with it is most real estate agents put a sign in the ground. Okay. Ready? Let’s go. Ridiculous. Whenever I look at houses, I have a separate phone that I use. And lately I’ve been noting the sheer desperation of these agents and listen, got multiple offers on Kensington. And I made that straight up. I just not using the real street. I’ve been looking at it. Got to get over here. Got to make an offer.
Let us know if your attorney is going to make the offer or what you’re going to do. No, they have nothing. You understand? It’s all smoke and mirrors. It’s a comedy routine and they’re getting caught doing this. Okay? It’s that simple, guys. It’s that simple. Staging, 2300 bucks. Kind of light. There is a company here. And I want to give you guys, it’s called Just Like the Model in Southern California. Irvine, California. Paul runs the place. Greatest store in the world. They sell the model furniture from model homes and from staged homes that don’t sell.
Or maybe they do sell and people go out and they, he buys these, buys the furniture at steep discounts and sells it. Well, think about it. It’s been in a model home. How many people sat in the sofa? How many people sat in the bed? Basically, nobody sat in the bed. But you can buy this stuff at a discount. Look for this. Laura from Connecticut. You know, I talked about how she sent me the story of Big Lots. Now the big, it’s going to have, hey, get ready for Black Friday.
Now it’s, hey, your Big Lots is getting liquidated. That’s what you’re going to see more of right now. This is in such bad shape. You know, I want you to think about this and I want to make sure I get this figure right. Try going to the next segment. The actor Jim Carrey, who, whether you like them or not. Hey, remember, walking through the Flamingo area forever starts here. Guys can get married today out of the Flamingo forever. Remember, this is forever, baby. You and me. Kitten caboodle forever. Let me say it again.
I love you. You’re my soulmate. You’re my best friend. Anyways, you get the gist. So Jim just knocked the price of his house down by a whopping $9 million. Nine million buckaroos. Listing price of $28 million, you know, just keeps getting lowered and lowered and lowered and lowered and lowered. Story is below on this. What do you guys think about this? You think things are good right now? I get invited around the hey, come look at the market here in Duluth. I’ll go anywhere. Raider games, stuff like this. You guys want to invite me out? I’ll be happy to do stuff like this.
You want me to go see a playoff game for baseball or anything like that with you guys? I would love to do stuff like that. I’m really happy that the Oakland A’s are leaving that stadium because I don’t want to go there because it’s too dangerous. Okay, but share your thoughts on this stuff so far. And are you surprised by this? Look at these stats below in the video description. You can read these stories. Let me know what you think about this. When the sun comes up, the lighting is really nice.
It’s beautiful. A couple things in the news that are crazy. And the first one is the city of Irvine, California, which I have lived in that is right next to the city of Tustin. And it has been voted one of the safest cities in America. You know, they don’t have meth labs. We have math labs here. Okay, anyways, you get the gist. This is such a great city. They are facing some instant backlash right now, because they just bought a cyber truck for the police department, which everybody needs.
And they modified it $121,000. And then they put $31,000 in modifications to it. And the city and the residents are freaking out because what a waste of money, you know, what look at what we could have spent money on. And again, I don’t care how rich your city is. There’s always things that you can do that you could spend money on that are better than a cyber truck. You know what I mean? So there’s that. Laura, another Laura sent me a story about the Buckland the Bucklands Hills Mall going up for auction.
Think about this. The shops at Buckland Hills in Manchester are on the auction block an entire mall. The Sears was sold separately. Sears building had a separate owner that went to auction a couple months ago. But what you have is you’ve got 1.3 million square feet of space. You guys want to buy a shopping mall? You’re going to be able to buy these things for the change in your pocket. No opening bid for this thing. You’ve got it on 114.7 acres. Absolutely crazy. But you know, when you think about this, JCPenney’s, Macy’s stores, Macy’s men’s.
This is one thing that was done in the 90s that I never understood. It’s not just good enough to have a Macy’s store. You need a Macy’s men’s store so we can send the men over there. And it’s just too much. It’s too much. But these stores are absolutely failing right now. Correct me if I’m wrong, guys. It’s absolutely ridiculous. But the Buckland Hills Mall, you know, not liquidated up for auction and you can buy it. So read the story below. But you have not seen anything yet. When it comes to these banks, when it comes to the bad real estate, the bad real estate loans, you haven’t seen anything.
Globally, we are in for a problem right now. I have not talked to anybody that says, you know, you have areas that are doing well. Areas of Vegas that are doing well. Restaurants that are doing well when I got into town yesterday. Things are good, okay? In certain spots. Certain things are busy. But the majority of it is people are not spending money on right now. And that’s what you’re seeing. The big lots thing is a complete disaster. It was just announced that the good guys, I can’t believe I said that, Best Buy.
The Best Buy stores are going to start closing stores. Guys, this is the calm before their storm where they’re going to make all their money. You’re going to go and you’re going to go to Best Buy and you’re going to buy all your electronics. No, they’re getting rid of stores. And they’ve lost hundreds of stores in the last two years and they’re going to close more right now. So this is just the beginning of this. But we’re in the greatest economy in the world. This is what I get upset about politically is that for the last, you know, two years, oh, you’re doing great.
You’re doing great. You just don’t realize you’re broke. You’re doing great. It’s not us. It’s you. You’ve got to understand how much money this. So I’ll show you guys. It’s all changed off right now, but the flamingos are back there. You can’t admit this now that we’re getting in this. Oh, things are too expensive. We need to fix this. You bet we do. You bet we do. But what are people going to do right now? We’re voting make a difference. I think that we’re just headed for the most epic crash that you’ve ever seen in your lifetime.
And I think you have to batten down the hatches. You have to save money. You have to learn to not waste your money right now. That’s going to be the most important thing moving forward financially in your life. Get rid of things while people still have money because it’s going to be a point in time. If you look at depressions, if you look at economies that have fallen apart, people eventually get to the point that they have no money and people have to live together. And you’re going to see, wow, you’re lucky you have a job.
You’re lucky of 25 hours a week. That’s where we’re headed. Just a quick video this morning. And I’m going to finish it with this. Think about this. Dock workers in New Jersey are preparing for the strike. So they’re shutting the port down right now and battening down the hatches and, you know, making sure this gets shipped off here and this gets handled here before they shut down. Do you remember, basically it was three years ago when we had the supply chain problem, I would go down and just film cargo ships, how backed up they were.
This has come into a theater near you again. You’re going to get to see this again. I could walk out on the Huntington Beach pier and I couldn’t count how many ships there were. I had apps that would show you how many ships are around there, which is kind of a cool thing. Marine traffic. Anyways, that’s going to happen again, guys. It’s going to happen again. The next thing is JP Morgan Chase, Bank of America, and Wells Fargo have just written off another five billion dollars in bad credit card debt in August.
Five billion dollars. That’s not somebody slow paying them. That’s somebody that didn’t pay their bill, guys. Five billion dollars a day. That is crazy. Now, final, final story. If you guys are on the private channel for iallegedly.tv, I shared a video of these kids robbing a 7-Eleven. Horrible. But it goes to this next story and the final story and that is that there’s the largest percentage. There are almost 10 million adults. Men. I don’t call them men. Males, okay. And that’s definitely not men. Between the ages of 25 and 54, they just don’t work.
Nah, gonna hang out. Not gonna work. Workforce is too difficult. Huh? What planet do you live on? Seriously. You know, your job is not to find you, but working, moving forward, that is the best thing that you can do in your life. An email. Go out, leave the house. Get out of here. Now, if you make money and you sit behind your computer all day, that’s fine. But not working, doing nothing. I’m talking about watching Netflix and doing nothing. Okay. So if you’re on the email list, check your spam filter because an email just went out yesterday.
You don’t want to miss that. I shared a bunch of cool AI stuff with you. Onward and upward, guys. I will see you guys very soon. I’ll let you know how the Raider game is. Gonna see the new stadium, get a tour of it. I get all this cool stuff. It’s very nice. Okay. I’ll share it with you guys. Okay. I’ll see you soon. [tr:trw].
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