Jon Grauman
speaker
142 appearances
1 recordings
1 series
first heard Nov 2024
last heard Nov 2024
Jon Grauman’s voice in public audio — every appearance, attributed to the second.
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Appearances
So again, if people start dissecting that too much, then the levy starts to break.
Yeah, it depends on the price. Oftentimes in middle America where you're dealing with lower prices, it could be 6%. In higher price point markets like Los Angeles and New York, it's sometimes generally 5%. And once you get north of, say, $10 million, sometimes you'll see it be 4%, 2% to each side.
Which again was the whole point that was made in that case is that it needed to be clear. There needed to be more transparency in how brokers got paid because buyer's agents were able to sit down with people and be like, my fee is free because the seller pays for it. And it's like, but it's not. It's not free because it's baked into the price and therefore the price is inflated to account for it.
So again, they wanted it to be more clear. So to me, this is where you separate the men from the boys or the... women from the girls, is an agent's ability to articulate their unique value proposition. Now they need to be able to really come in and justify what they charge and how they earn it. And I'll just say that not all agents are created equally. I embrace this opportunity because
respectfully and with all the humility in the world, I think I'm a cut above most of the agents in this industry where there's such a low bar for entry.
I welcome the opportunity to have these conversations. I think others will struggle.
Oh, great.
It would definitely have an impact, but maybe not in the way that people would just ordinarily think. These are people that play an instrumental part in the workforce, and that's where I see the biggest issue is gonna be in construction, is that if there were mass deportation, what you're gonna see is
a massive slowdown in construction, which will likely equate to a substantial increase in labor costs because you're just gonna have less labor to draw from and less affordable labor to draw from. So in a housing market that's already suffering from a lack of inventory and high construction costs, that would be, you know, adding insult to injury.
That would really be kind of like pouring gasoline on the fire. So I'm concerned in that respect. I'm also concerned in the respect of, you know, again, many of these undocumented immigrants are not homeowners, but they're renters. And I think you could see a significant adjustment to rental values if thousands of them by the droves were deported. And I think that would be bad for landlords.
But, you know, again... I don't want to get too political about it.
A thousand percent. That's exactly right. Again, it's going to slow down the construction process and drive up the price, which is good for nobody. Right. These people play a vital role in our society and our workforce in terms of the jobs that they do. You know, look, they're not here to eat our dogs and cats. So I clearly have my feelings about this and I'll just leave it there.
Wow. No one's asked me that question. What policy do I think would make housing more affordable?
There's no question that affordable housing is, I think, at the core of a lot of these conversations. And that just goes into building costs, right? You got a lot of developers out there, particularly in LA, and that's my markets. That's all I can really speak to intelligently.
that have moved away from luxury spec homes because there's less demand and not as active of a market for it, and really moved towards trying to crack the code on affordable housing. But it's a tough code to crack, going back to all the things that we just said. The cost of debt has gone up, right? More than double from where it was a couple of years ago.
The cost of labor went up, the cost of materials went up. but the cost of land or property values have more or less stabilized. So there's been no adjustment for it, which means that it's really hard for these deals to pencil.
Now, the government, at least here in Los Angeles and California, and I imagine several other markets around the country, are offering tremendous incentives to contractors and builders that are willing to do affordable housing. It's just a question of how do you do it? So I think what you're going to see is a pretty big shift over to modular homes.
Modular homes, which always had a sort of negative outlook stigma and connotation of like a mobile home. It's not the same. A modular home is a home that is constructed prefab.
Let's say it's a little bit better than that. Again, like there's, you know, varying versions of everything. But I have a lot of clients that have, you know, gone headfirst into this because if you look at it, first of all, it's a more efficient way to build a house. You don't have an inspector that's going to come out 18 different times throughout the construction process.
You have an inspector that comes to the factory once. They inspect it. They sign off on it. Great. Let's manufacture a thousand of them. They are fire resistant. They are wind resistant up to 180 miles an hour. So they can do much better in the face of a hurricane or a tornado. They do have their limitations, right?
Showing 61–80 of 142 · page 4 of 8
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