Jacob Davis
00:01
Jacob T Davis, here, what bridge real estate with Jared Evanson over here, cross country mortgage,
Jarod Evenson
00:06
it is so good to be with you here again, Jacob, looks like you’ve been out working or something.
Jacob Davis
00:11
Yeah, man, you know, I got a new listing coming up, and I just wanted to get, you know, help seller get some things dialed in on the yard. And so, it’s looking pretty good. I bought a brush hog. I think you call it a DR brush hog, and that thing is amazing. It you can, you can do some damage with that. So anyways,
Jarod Evenson
00:40
click on the link below for the brush hog.
Jacob Davis
00:42
Well, you know. So, I bought it from Pullman building supply, and I got a pretty good deal on it. So, I had to, had to take advantage. If so, if you’re looking for some good equipment, I would check out Pullman building supply right now. Anyways, so that’s what I got going on, on this Friday. How about yourself
Jarod Evenson
01:07
just slinging loans over here, man, getting things done. It’s it’s the end of the month that. It’s weird. Our end of the month starts at the middle of the month. It feels like so. So, getting ready for the weekend. Went on a boat cruise in Coeur d’Alene yesterday with the insurance company. That was fun. No one fell in. That’s a win. But alright, we gotta talk about something though. We gotta talk about August 17. We gotta talk about buyers, brokers, sales. What are they called
Jacob Davis
01:40
BB essays, the buyer broker services agreement,
Jarod Evenson
01:46
yeah, man, the talk of the town in our line of work,
Jacob Davis
01:51
yeah, BBSAs, and we got BBCA’s and we got all kinds of new forms. Yes, I heard all about it yesterday at my sales meeting. And so what do you want to know?
Jarod Evenson
02:07
Well, first off, what your team think? How are they feeling?
Jacob Davis
02:12
Ah, you know, I mean, it’s just kind of a new process that we are having to implement. I think, you know, with our buyers, it’s basically, it’s the law that you have to get a buyer agency sign or the BBSA before you show homes. And so in the past, you know, you would get a lead from Zillow or realtor.com and, you would show them, you know, I would show people 30 homes, and never have any kind of a buyer agency sign. It was just kind of a lot of agents were like that, you know? And so ever since the lawsuit happened with the realtors now, agents are going to have to get a bbsa, a buyer, brokerage, agency or service, says agents, buyer thing. We’ll just call it bbsa. I’m already getting confused, and so I mean you really, as an agent, you have to get a bbsa, especially in the state of Washington, but really, nationally, you got to get a bbsa sign before you ever let a buyer enter into look at a home. And so that’s been an interesting conversation, because a lot of buyers just want to go look at homes, you know? And it’s like, hey, buyer, I can’t show you home unless you sign a bbsa with me. And so contract, basically, it’s a, it doesn’t really mean anything. It just says, Hey, if you buy this house, you’re gonna you have to buy it with me. You have to use me as your agent if you’re going to buy this home. And so, you know, with a bbsa, it can be, you know, the default is 60, a 60 day period. I think, for the most you know, I’ll probably make them longer, because typically, from the time you start, you shut, you sign a bbsa, and by the time a buyer, you know, makes a decision on buying, you’re going to be past 60 days. I mean, it takes a lot of buyers, it takes a year or longer to make a decision on buying, and so I’ll probably sign at least 180 day BB essays. And you know, most likely I will make my buyer agency non exclusive. And so if a buyer feels uncomfortable, you know, with committing to me, it’s like. Well, hey, understand that, but you still have to sign a bbsa. It can be non-exclusive, or if you really like me, you know, if you’re done dating and you want to, you know, or if you’re if you really want to commit, then you can sign an exclusive agency, yeah, but you know, the I think the buyers that will commit and sign a exclusive agency agreement will probably get preferential treatment from, you know, compared to non-exclusive buyer agencies that I get signed so, but so that’s kind of where I’m going, is, if you want to look at a home, you gotta sign a buyer, a bbsa, no matter what, you can sign it on, non-exclusive, you know, if you’re not quite ready to commit To me, but I have to do it. You know, my designated broker is requires it, and the state is requiring it, and it’s just the law. So that’s kind of where we’re at.
Jarod Evenson
06:13
So, on the non-exclusive, like, the difference between the exclusive and non not exclusive probably means like, Okay, if I show you this house, you’ve got to use me. But if somebody else shows you a different house, it’s all good if you use a type of thing. Is that kind of the difference?
Jacob Davis
06:31
Yeah, you know. And this is still kind of new to me. And the more I think about it, like, even though I just said I will probably let people sign a non exclusive. I’m kind of like, why would I do that? You know, it’s like, I’m taking three hours out of my day to show you these homes. I if I’m going to do this, I’m, I think it’s going to be like, All right, I’ll show you four homes. Or maybe I’ll show you for two days of showings, if you don’t like me after those two days, then, you know, we can either go our separate ways or but I think I’m, at some point, I’m going to have to get a buyer to commit, you know, because otherwise it’s just, man, it takes a ton of Time to show people these homes. Mm, hmm,
Jarod Evenson
07:20
yeah, yeah, that that makes sense. I, I It’s a weird position to be in, like we, we don’t my line of work. We don’t have to drive around and spend days and days of people showing houses, or, I should say, we don’t get to, but I do have, you know, occasions where a client will leave me. We’ve had them pre qualified for months and worked on lots of things for them, and then they leave to go save $35 in closing costs, you know, somewhere else after all that time he spent, which whatever it happens. But for you guys, it’s a lot more because you got, you got money invested into it too, with time. Well, time is money, but it’s pretty crazy. So, so why wouldn’t a client like, what? What’s the objection to people wanting to sign the what makes them nervous about it? Is it? Is it? You know, do they have to commit to paying you a certain amount or making sure you get paid. What’s the deal there?
Jacob Davis
08:24
No, I mean, the only thing they’re committing to is, if they buy a house that they’ll use me as their agent. You know, I’ve got 14 years of experience, and, you know, I’ve did real estate investing prior to that, so I have a ton of experience. So, so the only thing they’re committing to and they sign in bbsa is that they’ll use me as their agent. It’s not like it costs them anything. It’s not like it doesn’t really it. It will lock them into so if they do decide they want to buy a house, they will have to pay, potentially, a commission if seller is not offering a commission. And that’s kind of where, you know. So now, when a seller is going to list their home, if I’m meeting with a seller, and seller asked me, Hey, what’s your fees? You know? So now, in the past, it was like, Well, you know, five or 6% is kind of what we we charge. Now it’s, I can’t really say that, you know. I can say, Well, my listing fee is this buyer, if you want to offer a buyer agent commission. It’s, you know, that’s, I can’t really, I can’t steer them into anything, right, like, that’s where this whole lawsuit thing came from. So what I can tell them is, you know, typically, um. Yes, you know. I mean, most home, I don’t know what I could say, to be honest, like, but most likely, most buyers are going to come from a different agent. You know, they’re not going to come through me, typically. So, I mean, you still kind of got to say, Hey, I think you got to offer a commission. You know, whether you know you want to or not, most likely, that’s how you’re going to sell your house.
Jarod Evenson
10:26
I think a safe place to be would be like, or would be to say, you know, great question, yeah, what? What should we offer the the buyer’s agent side? And you know, home buyers are going to be, you know, have to make sure that their agent gets paid. Most home buyers, I don’t want to say most, a lot of home buyers, don’t have the extra cash after paying their down payment, closing cost whatever to pay an agent out of their pocket. It’s not something people have been accustomed to doing. It’s not so. So if they have that added expense, they may be less inclined to put an offer on your house. So you know, who do you want coming through the door? How big of a buyer pool you know? Do you want? I don’t know that’s it’s a weird place to be in, and I’m glad I don’t deal with that on my side, where I’m going to feel it as a lender, is if a buyer goes to buy a house and they just barely have enough for their down payment, and we we get closing costs somehow, either their money or from the seller and the offer, and they don’t have the 3% or two and a half percent, whatever it is to pay their agent. What do we do? We get stuck. And so that’s, that’s where it can get tricky. Now you there’s ways, you know, that can be negotiated into the contract and and in one sense, it always has. It just didn’t feel that way, I guess, because it was pretty, you know, automatic you were used to the seller paying the buyer’s agent commission, and it was already written in their listing agreement. Or what have you said? Now, it’s like there’s some unknowns of, is this offer out there on this house or not that could and that could create home affordability issues, if someone can’t pay that on their own then and they don’t get about a house if,
Jacob Davis
12:24
yeah, I don’t think things will change too much overall. I mean, right now, with my listings, when an agent wants to show it, they asked me, first, is there a commission offered? And so I, you know, I tell them what the commission is that’s offered. We have to publish, you know. So we have to, you know, whether that’s texting it. We have to let agent know that what the commission is offered by seller. So really, I don’t think things are gonna change too much. Overall, there’s just a ton of confusion right now, and it’s just sort of my job to try to explain things like, okay, the media, you know, they say this, but in reality, this is what I’m seeing. Yeah, because the media, you know, they just, they’re just selling advertising, so they’ll make up as much, you know, ridiculous information they can possible to get you to click on their, you know, their, their, their content.
Jarod Evenson
13:36
So, no, that makes sense, and yeah, the the vibe you get from the media is the sellers don’t pay buyers agent commission anymore. That’s all they say. They don’t say, Well, hold up a minute. Now it’s not quite how it is. It’s just It can’t be advertised. It can’t be put on the MLS, if you will. That’s the big change, right? It basically is an added step to figure out what it is. And then, and then there’s the side of the buyers, which Washington you guys have been having people sign the buyer, bbsa for since last year or just beginning of the year, haven’t you?
Jacob Davis
14:08
Yeah, I mean, we’ve been trying to, we’ve been working through this for a while, but you know now it’s like, okay, we really need to do it though. I mean, or, like, you know, there’s just too much liability anymore, so, so, yeah, that’s kind of where, that’s the that’s where we’re at when it comes to BB essays and buyers and sellers. It’s kind of a new world, but really, I don’t think it’s gonna change.
Jarod Evenson
14:41
Oh, here’s, here’s. Want to talk about same subject. So to go show house now, to go to an open house, just so the consumers of the world know, my understanding is to attend an open house, you do not have to sign a bbsa. So is that? Correct as far as your knowledge goes,
Jacob Davis
15:01
Yeah, I think that is Greg. You don’t have to, because I’m the listing agent. If I’m at that open house, I can be there and let someone come in. I think if they were there with their buyer agent, that might be different, you know. So they might still need to have a, but they they should have a bbsa with that buyer agent, yeah, if they’re coming, because I’m the listing agent, I’m not representing them, so I could be there, you know, you know, throwing a party, trying to sell a house, you know, I mean, open to the public.
Jarod Evenson
15:35
Yeah, I saw, I saw a case in California where it was an open house, and the agent was making everyone sign a bbsa as they walked the house. And many people turned around and laughed. Well, for an open house, you’re good. An agent tries to make you sign one and open out. Now your buyer’s agent, that’s one thing, but you should already have that in place, right? But anyhow, it was very, you know, interesting, how people had that confused and had no idea, like, do I need us a sign? Like, what do we do? So you’re safe on open houses. So go to all the open houses.
Jacob Davis
16:12
Yeah. I mean, really, like, we just gotta communicate what’s going on. And, you know, my process on how to do this will change here and there a little bit, but I think, you know, it’s gonna be like, hey, all right, let’s go look at some homes. You gotta sign a non exclusive agency agreement for now. But you know, I’m only going to show you a certain amount of homes, and at some point you gotta commit to me, and then we’ll do exclusive otherwise, you know, I’m just waste we’re wasting each other’s time. So that’s just, I think, how most agents are going to handle it. It’s like, Hey, okay, I know you don’t know me, but let’s figure out if we like each other because we got a few homes. And then I’m going to ask you for the agreement to to for, for the excuse exclusive contract.
Jarod Evenson
17:01
I’m telling you, though, that side of things, I think is a good thing from things I’ve seen happen over the years. I think that’s, that’s a beautiful thing to to have in place to protect the agents and their time. You know that’s you gotta have a little bit of that in there so well,
Jacob Davis
17:19
I mean, we want buyers to feel comfortable too. I would not want a buyer to sign an agreement that and then they’re like, I don’t really like you, or we just don’t connect, you know, it’s like, okay, and that’s why I think you gotta kind of do the non exclusive for a little bit, and then at some point it’s like, Alright, guys. I mean, are you ready to, you know, go to the next level with Jake and T
Jarod Evenson
17:49
Yeah, I love your, I love your, it’s time to quit dating and get a little commitment going on here. So, oh, that’s, that’s good. I think that helps clarify. I mean, I, I feel good about it, you know, I’m going to have people ask me about it, and I want to be able to speak semi intelligently, which is hard for me to do in general, you know, so nice. What else is out there? Anything else good going on? Or should we head to the weekend?
Jacob Davis
18:17
Um, so I finally renewed my football season tickets. So I’m pretty excited about that. I was going to say, went to a restaurant in Colfax. New restaurant opened up in Colfax. Pretty good last night we so my kids go to school in Colfax, and we were getting ready for school, they had the like, you know, the meet the teacher thing. So we went, we went to that yesterday. And then, you know, in the past, we would have to drive all we’d either have to go to Subway, because it was 830 at night. So we’d, we’d, we’d have to go, either go to Subway or drive all the way back to Pullman to get something to eat. But this place was open. It’s the old sea first building in Colfax, and we went there, and it was awesome, like they had drinks and, you know, so I got had a and, and then had a, you know, burger. It was pretty great.
Jarod Evenson
19:26
Do they have a name?
Jacob Davis
19:29
I’m like, I gotta let me google it. I it’s, it’s like, something Ember, wild.
Jarod Evenson
19:38
Wild ember.
Jacob Davis
19:41
Yeah, wild. Member, kitchen open. Yeah, it was awesome. It was like, not even a week, kind of like South Fork ish in Pullman, kind of like that, but in Colfax, and it’s like, Colfax hasn’t had a good restaurant, and I. Ever maybe I don’t know, like,
Jarod Evenson
20:01
what is it? Eddie’s,
Jacob Davis
20:05
come on, Eddie, yeah. I mean, like, they haven’t had a new, like, kind of full on restaurant I’m picking up where you put down, yeah, like, since I was in high school. So, so anyways, I thought it was great. Um, it’s awesome.
Jarod Evenson
20:22
Sweet. That’s good to know in small town restaurants, man.
Jacob Davis
20:27
And what’s so cool about it, you know, so the Downtown Association and Colfax, they got a grant to renovate this bill. And, you know, otherwise, there’s, I don’t think there’s any way that a restaurant could’ve, you know, spent all that money to renovate that building, and so, pretty, pretty cool. And so the owner was there, talked to him, young guy, and, you know, pretty motivated to make it a success. So I thought it was great. And I think they’re doing really well. So if you’re driving through Colfax on your way to a good game. You gotta check out wild Ember,
Jarod Evenson
21:04
nice dude, that’s cool. I want to what did you have?
Jacob Davis
21:08
I just had a burger. Yeah, good. Alright, nice. And a lot of drinks. I’m just joking. I just had, I just had one
Jarod Evenson
21:18
good that’s, that’s fine. That’s plenty Nice. Oh, good. That’s cool. There. Keep on growing Colfax, I tell you.
Jacob Davis
21:27
Yeah, I think, you know, Whitman County’s kind of, you know, there’s a lot of, there’s some good mojo going on. Pullman’s redoing the downtown. So that’s, you know, I think once the downtown is finish new life, if that ever happens, that will help with Pullman. It Pullman’s had some businesses get closed recently, so that’s kind of tough. The theater, theater clothes, Pullman building supplies, closing in November. The downtown projects put some businesses out downtown. So Pullman’s got like, you know, I love I live in Pullman. My kids go to school in Colfax, but Pullman needs some help. Like, I mean, some of the smaller towns, there’s some good energy going on to get things going on in the smaller towns. Pullman needs some more business. I mean, needs grants, needs people to come to the games. Pullman needs, yeah, a lot of support, like, for football this year. So we really need, like people to go to the games this year for football, for basketball, because ever since the whole pack two debacle, I mean, Pullman feels like it’s struggling, I’m just going to say it like it does, and so hopefully we get a lot of Cougs come into town and support the Cougs, because we kind of need it over here.
Jarod Evenson
23:13
Yeah, well, you know the economy. Let’s talk with Tommy. We got time that the economy is a big, big factor, right? People aren’t spending money. So I think the Fed this morning came out and said, Okay, it’s time for the rate cut. You’ll see it September 18. He’s committing to doing a rate cut start there and that that’s a sign that inflation has cooled off. It doesn’t mean we’re deflating. It means we’ve cooled off, uh, which hopefully means people will have the extra money to go start spending money at these places again. You know, the the putt, putt, the virtual golf, the home mobility, you know, home, home projects. In some cases, it’s feels like it’s too late, because we’re seeing these places closed, but which sucks, because once they close, it’s really hard to reopen something in that spot, you know.
Jacob Davis
24:07
So, yeah, I mean, we don’t have a hardware store in Pullman now. We got to go to Moscow for Oh, so it’s like, that just sucks, like, you know, if I want to fix work on a project, I gotta go to Moscow, and that’s going to take at least an hour longer to go to Moscow for supplies.
Jarod Evenson
24:27
Yeah, I didn’t realize that because that other there used to be like an Ace Hardware. When did that close? Probably when MBS opened,
Jacob Davis
24:35
they kind of closed. I mean, because you had Walmart come in, PBS open, so they closed about three years ago. It would be awesome to get an ace back open and Pullman, love me some ace.
Jarod Evenson
24:49
Are they? You know, they’re independently owned. Typically, they’re great, but, ah, that’s brutal, but hopefully, yeah, that will hopefully help people be able to afford spending more money at. These places so more places can open up and thrive, because when the small businesses are thriving, man, that’s where the growth comes. Which the good growth, you know? So fingers crossed.
Jacob Davis
25:15
Well, you know, poem will be fine. We it would just be awesome to get, you know, tons of fans come to the games. I’m worried that, you know, because we’re not in the pack 12. No one’s we’re going to have less people show up to the games.
Jarod Evenson
25:36
So we’re winning. We’re going to put butts in the seats. You know, all those boys can win. You go three, start three. You know, it’s going to be hard to not want to go to a game, you know?
Jacob Davis
25:49
Yeah, I really hope so. I hope so. I just know, you know, I I’ve been a season ticket holder for a lot of years. And I mean, you know, during COVID, i which, I think that’s kind of a whole different thing, but it, you know, there’s there. Well, the one year nobody came right, because they, they couldn’t, and then it was just like, it felt like last year, I don’t even think people had really fully came back yet. I mean, I think last year they did, but the previous year too is pretty slow.
Jarod Evenson
26:28
Yeah, you know, you know what I’m most looking forward to, though, is not having to hear that damn USC band most.
Jacob Davis
26:39
Yeah, get them out of here.
Jarod Evenson
26:43
Sweet, good. And we got eight days. Eight days. Kick off, right, 20, the 31st first game,
Jacob Davis
26:54
yeah, yeah, we’re playing. Who’s it? Portland, state. Hey, it we played Portland State. I mean, it was probably 10 years ago, and I remember they came in and upset us. It was like, just pouring down rain. It was the first game of the year. So you can’t look past Portland State. That was terrible. That was, like, probably the worst game I ever went to as a, as a coug fan, that.
Jarod Evenson
27:27
Because, yeah, that started a thing. Because, then did we lose the Eastern?
Jacob Davis
27:33
Yeah, I think Eastern came in the next year. And I think this was, like, in the leech era, you know, and we were, we were good, but for whatever reason that first game, we just couldn’t, couldn’t show up. So anyways, but I think we’ll be pretty good. I think we’ll be pretty tough. So undefeated.
Jarod Evenson
27:56
Let’s go.
Jacob Davis
28:00
Let’s go so well, COVID. Well, that’s about all I got for today. I’m looking forward to the weekend.
Jarod Evenson
28:12
Yeah, you can do anything.
Jacob Davis
28:17
I’m probably gonna work because I gotta show houses. I guess, sell some houses, man, we gotta work. Feels about like three times harder than before now.
Jarod Evenson
28:31
So sell half amount of houses,
Jacob Davis
28:34
pretty much. Yeah,
Jarod Evenson
28:38
all right, brother, good. I’ll catch you next week.
Jacob Davis
28:41
Take it easy later. Bye.
