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This is why new construction is such a big draw is because builders are able to do a lot
of things that a typical seller of a resale home isn't able to do.
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And so being that budget conscious and really paying attention to that monthly payment,
builders are able to kind of meet that need.
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Welcome back to another episode of Builder 365.
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I'm Amy O'Connor and I'm still your primary host while Jeff is on sabbatical.
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And we had such a good time with Mary Beth last time, we just decided to keep bringing her
own back.
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So welcome back, Mary Beth.
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Thank you.
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How are you today?
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Good.
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It's very, very good to see you and have you here.
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And obviously we're not physically together, right?
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I mean, we're doing this virtually.
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And actually, Shure Consulting has always been a virtual company.
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We were virtual even before it was cool.
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But you and I both, right?
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Yes, exactly.
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But you and I both, when we're not on the road working with clients, this is how we work.
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you know, and I'm just curious, have you ever had any fails or any mishaps?
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You have a family.
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Have you ever had a kid like running by behind you in their diaper?
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Anything crazy from virtual working?
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Okay.
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With the bowing of the head, I think maybe there's something here.
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I think that enough time has passed that I can admit this.
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So when I was a newly minted Shore Consulting employee, and this was one of my first goes
with the home office situation, and I was shadowing you actually on a virtual training and
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you were talking, but it was like one of those things where I had to talk some too, but I
had to be on camera and, you know, felt like there was a little pressure proving myself.
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And then
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Jeff popped on unexpectedly, the man himself, right?
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And as all this is happening, and I'm like, okay, fix your face, don't be nervous, it's
all good.
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That is when the door opens and the four-year-old comes in.
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Now, the problem with the four-year-old is not the four-year-old, he's adorable, I'd
happily get him on camera.
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It's the fact that the four-year-old doesn't always believe in wearing pants.
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Whoa.
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You're talking about diaper, if only I could have been so lucky.
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So as I was looking at you, Jeff, a classroom full of eager sales professionals, I'm
literally trying to look at the camera and push him away and text the nanny without
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looking like I'm texting the nanny like, please come get my child, thanks.
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Yes, yes, many a blooper, but that was probably We've certainly all been there.
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And if it makes you feel any better, I have no memory of that.
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So you must have done just fine because I don't remember being like, yeah, I'm glad you
said that, Mary Beth, because I remember that.
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don't, no memory.
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No memory of that happening I feel like one of the
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core skills as a sales pro that you have to have is no matter what is going on around you
in your phone, you have to always keep your face.
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So here's that.
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It's true and that is not always easy.
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So yes, it is definitely a skill that you build when you are virtually.
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Well, listen, before we bring on our next guest, let me tell you that Builder 365 is
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So Marybeth, again, you we're always looking for new and cool things that are happening in
home building.
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Have you heard about ADUs?
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Yes, yes I have.
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Accessory dwelling units?
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Why do you ask?
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Well, it was just interesting because I'm seeing the popularity really sort of ratchet up
in California and then switching over to Colorado and Arizona and Hawaii.
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And we're just seeing more and more of these.
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Now I'm a little curious.
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I don't really understand how that's different than a Casita, which we've seen for quite a
long time in places like Arizona.
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But it's this evolution that we're seeing.
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And of course the accessory is the accessory to the primary home, right?
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So there's a primary residence and then we have this accessory dwelling that in California
can actually be sold independently, which I thought was interesting.
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They have separate entrances.
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They have amenities.
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They have HVAC systems.
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They're usually less than a thousand square feet and usually one to two bedrooms.
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Now, I think the interesting thing that we're seeing right now is we're mostly seeing
these in high-end developments, but I'm interested in the conversation of, this help with
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the housing crisis and the affordability crisis?
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What do you think?
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Absolutely.
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You know, my first home, we actually had, well, it was an ADU light.
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had its own entrance.
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It didn't have its own driveway.
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And it was really, really helpful because we were able to help Tucker's brother, who was
in grad school, have a very affordable, very comfortable place to live.
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And so it was great for him.
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It was great for us.
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You know, I think that that was a wonderful option.
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And actually, I didn't even think about it, but not too long ago, Tucker and I
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what it would cost to build one here.
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And actually we're looking at how to get road access from the back of our home site to the
road that goes back behind our property so that we can have a completely separate
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dwelling.
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And yeah, I think it's a great way for, I'd probably run it out to family members,
friends.
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There's a university up the street, actually two universities up the street, but that
would be a killer way to make some secondary income for us or help out family in need.
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Yeah, that's what going to ask you.
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So for you, you were seeing it as an investment opportunity.
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Investment opportunity for sure.
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Because ultimately, I think we're going to turn this property into a rental property.
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And it would be basically a double rental property at that point.
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out the front, rent out the I mean, two income streams for the price of one.
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Well, I I have 12 acres.
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I wonder how many ADUs I could build on this thing.
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I don't know what kind of income I could start generating.
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Listen, my husband will never go for it.
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So, you know, it's all theory.
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but, but yeah, no, think it's, I think it's super cool.
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think it addresses so many things like generational living, perhaps affordability, perhaps
giving people extra income.
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I'm interested to see where the industry goes with that.
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And I, I totally be a fan for seeing more of it.
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Amy, if you turn a couple acres of your farmland into a dream site, we could totally do
this.
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I have a vision.
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No, people are awful.
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No, people don't don't know.
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They'll leave trash and they'll, I don't know, harass the donkeys.
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It's too much.
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It's too much.
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It's not I'll you a proposal.
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It's not for us.
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And then you can make your decision.
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Okay?
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Okay.
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All right.
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Well, we'll work out a business plan and then we'll see what we can pass by Richard.
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Okay.
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Sounds good.
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Well, we have another special guest interview for you today.
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Her name is Kedra Evans and she's the Director of Industry Relations and Sales for New
Construction with Zillow.
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She's on the executive team of the home that she built along with me and she's funny.
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fun and smart.
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think you're going to love this.
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Take a listen.
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Well, Cajer, thank you so much for taking the time.
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I got to tell you, I have fan girled over you for so, so, so long.
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And I love that Molly Elkman originally connected us and we are connected through the
SheBilt Foundation.
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We both sort of serve on the executive leadership group for that.
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And then your kind presentation to WLC this year.
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So thank you.
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Thrilled to have you on the podcast.
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my gosh.
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Thanks so much for having me.
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It's been such a joy getting to know you and just be more involved with all the goodness
that short consulting has going on too.
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Thank you.
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We love that.
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Well, let's jump right in because I got to tell you, I know that our audience is super
excited to hear what you have to say and the data and the perspective that you bring.
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So let's start with telling us a little bit about your job at Zillow.
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What exactly does a director of industry relations and sales do?
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It's a great question.
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because it's kind of an odd title for a job, right?
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So industry relations is really just an external face of the business.
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So for so long at Zillow, we were kind of these behind the scenes tech people.
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And industry relations came into the fold in about 2015, just in an effort to start
getting out into the industry.
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So we birthed the new construction industry relations role about three years ago.
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And I've been able to kind of go to conferences.
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Be on stage, share all this awesome data that Zillow has, and just really start to be a
presence, like an ongoing presence in the industry that the people see and they now can
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associate industry relations and Zillow and all the things that we do.
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And then I took over, there's that sales piece in the title too.
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So I took over a sales team this spring and the sales team is the team that's responsible
for bringing in brand new builders.
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We work with most of the big builders.
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There's still a lot of builders that are smaller that we don't necessarily work with.
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So this team works to bring in that net new business.
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That's fantastic.
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That's very exciting.
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So your role is expanding, doing a little more every day.
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It seems like I'm doing a little more every day.
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Yes.
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But they just do it just enough so you don't quit, right?
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Just enough for where it's not too much.
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Yeah.
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I gotcha.
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I gotcha.
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So, well, listen, I know our audience is thrilled to hear about the data that Zillow has
in the perspective.
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So again, so excited to have you.
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So tell us from a data perspective, what are some consumer preferences that you are seeing
maybe changing in the market?
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Are there any surprising insights that y'all been picking up on?
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There are, there's some things, you know, we've had this new construction consumer housing
trends book for the last four years, and that was kind of the pandemic time, right?
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So we've seen some of the data since the pandemic really shift in trends, and some of it
has stayed the same.
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Some of the newest trends that came out in this year's data, which I tend to love these
two particular things, one is pets.
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Pets are becoming more and more important every day.
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We are starting to use, we're making decisions based on our, our fur babies.
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So for sure.
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would do, I do.
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Yeah.
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Yeah.
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So this is data that we're learning about in these surveys that we send out is how
important our pets are to us.
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And so we talk a lot to marketers about shining a spotlight on all the great features that
you've got for pets.
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So maybe you've got a dog washing station.
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my house, just did a second floor remodel and my request was a hidden litter box for the
cats.
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So we've got a hidden litter box under the shower bench that the cats can get to.
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the shower bench.
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That's interesting.
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Yeah.
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It's, it's, it's, it was built in.
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it faces, it's not in the shower.
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It's right outside of the right where that bench is.
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And so it's, we think about our pets a lot.
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Yeah.
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Yeah.
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I have five cats and two donkeys.
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So yes, I think about them a lot.
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Can I come visit?
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Yes, but they bite.
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yes, but yes.
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Just ask Alexis Dries.
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Yes, they will bite.
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The donkeys bite or the cats?
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Well, probably both, but the donkeys are a little more nippy than the cats.
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Okay.
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my gosh.
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I'm so jealous.
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Donkeys.
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I'm an animal lover to the cores.
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Okay.
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All right.
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Well, then you have to come.
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I will.
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I will.
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So back to trends, the other one that we're really seeing start to grow in popularity, and
again, it's a generational kind of difference between maybe boomers and millennials, but
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as a response to this major affordability crisis that we are facing right now, we're
starting to see a major uptick in the desire to have either part or all of a home that you
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can rent.
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So buyers are looking for ways to offset
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their mortgage payments, maybe by renting out an ADU or their basement or some piece.
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And they also want to make sure that this is something that they can rent out either now
or in the future, just maybe as an investment from an investment point of view.
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It's so funny that you bring that up.
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I was just yesterday reading an article on LinkedIn talking about ADU's, right?
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Accessory dwelling unit.
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Am I getting that right?
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Accessory dwelling unit.
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That's right.
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these are basic.
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It's a builder term.
228
00:13:11,900 --> 00:13:13,460
We've got to find a better term.
229
00:13:13,460 --> 00:13:13,980
We do.
230
00:13:13,980 --> 00:13:18,230
Well, is casita the same thing as a casita or is a casita different?
231
00:13:18,310 --> 00:13:19,630
That's a great question.
232
00:13:19,630 --> 00:13:20,030
I don't know.
233
00:13:20,030 --> 00:13:22,120
I would think they're probably very similar.
234
00:13:22,120 --> 00:13:24,510
Maybe it's just semantics, right?
235
00:13:24,590 --> 00:13:33,630
Like the ADU, it's really by definition, it's just a unit that's separate from the home
that's on maybe the same lot as the primary structure.
236
00:13:33,630 --> 00:13:36,738
So I think casita falls in that definition, right?
237
00:13:36,738 --> 00:13:41,221
Yeah, I mean, think so, They're usually around a thousand square feet, one-ish bedrooms.
238
00:13:41,221 --> 00:13:42,672
They're independently run, right?
239
00:13:42,672 --> 00:13:45,653
They have the amenities that you would need in a private interest.
240
00:13:45,653 --> 00:13:48,605
I think that that's the definition and I think it fits both.
241
00:13:48,605 --> 00:13:54,889
But it's interesting that you talk about that from the, that give us any relief in the
affordability crisis?
242
00:13:54,889 --> 00:13:57,941
Because that's exactly what the article was talking about, right?
243
00:13:57,941 --> 00:14:01,673
Is this going to give us the means to be able to do that?
244
00:14:01,673 --> 00:14:03,974
So you're seeing people want to rent these spaces.
245
00:14:03,974 --> 00:14:06,555
That's what the data is telling us.
246
00:14:06,556 --> 00:14:15,287
Even just four years ago, was about, it was just a little over 20 % of buyers were telling
us that they wanted this and now it's well over 50%.
247
00:14:15,287 --> 00:14:23,495
So it's a trend that is growing likely as a reaction to this affordability crisis that's
really happened in that last four years.
248
00:14:23,495 --> 00:14:25,186
You've seen prices balloon up.
249
00:14:25,186 --> 00:14:28,628
They're like double, payments are double what they were four years ago.
250
00:14:28,628 --> 00:14:33,280
So we're trying to figure out ways that we can help offset those monthly costs.
251
00:14:33,326 --> 00:14:34,046
Yeah.
252
00:14:34,046 --> 00:14:37,906
I wonder if I can turn one of my barns into an ADU.
253
00:14:38,006 --> 00:14:38,796
I don't know why not.
254
00:14:38,796 --> 00:14:40,426
I wonder what that would.
255
00:14:40,426 --> 00:14:43,426
I wonder what my neighbors would think about that.
256
00:14:43,426 --> 00:14:44,616
I think, I think it sounds great.
257
00:14:44,616 --> 00:14:46,206
I think it sounds great.
258
00:14:46,206 --> 00:14:46,466
Yeah.
259
00:14:46,466 --> 00:14:48,426
Are you going to kick the donkeys out?
260
00:14:49,166 --> 00:14:50,156
no, the donkeys are in a hole.
261
00:14:50,156 --> 00:14:51,106
have two barns.
262
00:14:51,106 --> 00:14:53,206
I, the donkeys are in a hole different thing.
263
00:14:53,206 --> 00:14:53,746
yeah.
264
00:14:53,746 --> 00:14:57,406
No, no, this is going to be the guest cottage cage or for when you come.
265
00:14:57,406 --> 00:15:01,646
It's been my dream to have it a guest cottage, but maybe now I just need to call it an
ADU.
266
00:15:01,646 --> 00:15:02,606
That sounds amazing.
267
00:15:02,606 --> 00:15:04,026
Please don't call it an ADU.
268
00:15:04,026 --> 00:15:09,006
I was in a conference this week and we were like, stop talking builder to buyers.
269
00:15:09,006 --> 00:15:13,786
need to speak a buyer's language, not a builder's language.
270
00:15:13,786 --> 00:15:14,626
yeah.
271
00:15:14,626 --> 00:15:14,886
Yeah.
272
00:15:14,886 --> 00:15:18,526
That's why I Casita, but maybe Casita doesn't feel good for the entire U S right.
273
00:15:18,526 --> 00:15:22,476
Maybe that's more of a, you know, New Mexico, Arizona, sort of a term.
274
00:15:22,476 --> 00:15:23,086
don't know.
275
00:15:23,086 --> 00:15:23,906
I don't know.
276
00:15:23,906 --> 00:15:24,466
California.
277
00:15:24,466 --> 00:15:25,626
What I think of Casita.
278
00:15:25,626 --> 00:15:26,306
Yeah.
279
00:15:26,306 --> 00:15:26,806
Yeah.
280
00:15:26,806 --> 00:15:27,186
Yeah.
281
00:15:27,186 --> 00:15:27,846
For sure.
282
00:15:27,846 --> 00:15:28,506
For sure.
283
00:15:28,506 --> 00:15:29,496
Well,
284
00:15:29,496 --> 00:15:30,126
Cool trends.
285
00:15:30,126 --> 00:15:30,856
would have nested.
286
00:15:30,856 --> 00:15:33,737
I wouldn't want to actually predicted either one of those.
287
00:15:34,207 --> 00:15:40,779
mean, we know we've seen the uptick in things like pet pads and you know, the dog wash
stations, but I did not know it was such a big focus.
288
00:15:40,779 --> 00:15:43,270
And then ADU is again, weird that I had just read that.
289
00:15:43,270 --> 00:15:44,630
So very cool.
290
00:15:44,630 --> 00:15:53,583
So definitely something that our builders need to be thinking about as they're looking at
planning their product and planning, you know, maybe even the way they're doing the land,
291
00:15:53,583 --> 00:15:53,743
right?
292
00:15:53,743 --> 00:15:56,634
Does the land accommodate to have the ADU on it?
293
00:15:56,634 --> 00:15:57,434
Interesting.
294
00:15:57,434 --> 00:15:58,378
So
295
00:15:58,378 --> 00:16:01,741
What are you thinking now as you're looking at the economic landscape?
296
00:16:01,741 --> 00:16:09,687
know, we're, you know, a lot of talk about the interest rates and inflation and how are
you seeing this influencing buyer behavior?
297
00:16:10,408 --> 00:16:13,069
Well, we kind of just talked about a little bit of it.
298
00:16:13,530 --> 00:16:23,037
We have seen prices more than double in some markets and so buyers really are, they're
more budget conscious than they have ever been.
299
00:16:23,732 --> 00:16:25,513
especially new construction buyers.
300
00:16:25,513 --> 00:16:31,125
used to see a little bit of wiggle room on budgets and they're telling us that they are
more conscious of their budget than they've ever been.
301
00:16:31,125 --> 00:16:32,904
Builders are really responding to this though.
302
00:16:32,904 --> 00:16:34,486
I love what builders are doing.
303
00:16:34,486 --> 00:16:37,968
We're seeing builders higher density, smaller lots.
304
00:16:37,968 --> 00:16:42,009
They're really trying to meet the needs of what buyers are asking for.
305
00:16:42,009 --> 00:16:47,031
And so they're able to shrink the square footage of a house and really start making it
more efficient.
306
00:16:47,332 --> 00:16:49,052
And that's what buyers are looking for.
307
00:16:49,052 --> 00:16:50,713
They want to get in the game.
308
00:16:50,713 --> 00:16:53,854
Builders luckily are starting to meet the needs a little bit.
309
00:16:54,586 --> 00:17:04,030
we're seeing, buyers are now in this most recent market, like recent, like September,
we're seeing, we're seeing builders doing more price cuts.
310
00:17:04,030 --> 00:17:10,492
Builders, have been using incentives for the past couple of years as a response to these
higher interest rates.
311
00:17:10,713 --> 00:17:19,596
and still buyers are paying attention and they're really able, this is why new
construction is such a big draw is because builders are able to do a lot of things that a
312
00:17:19,596 --> 00:17:22,757
typical seller of a resale home is unable to do.
313
00:17:23,078 --> 00:17:24,038
and so.
314
00:17:24,321 --> 00:17:30,602
being that budget conscious and really paying attention to that monthly payment, builders
were able to kind of meet that need.
315
00:17:30,682 --> 00:17:31,002
Yeah.
316
00:17:31,002 --> 00:17:32,177
You know, I've been talking, it was funny.
317
00:17:32,177 --> 00:17:35,843
I was talking with just a builder yesterday and I said, well, are y'all buying down the
interest rate?
318
00:17:35,843 --> 00:17:36,023
Right?
319
00:17:36,023 --> 00:17:43,365
So many of them are, in there, you know, but they're, they're buying down the interest
rate, but there's still a lot of shadow demand sitting on the side.
320
00:17:43,365 --> 00:17:46,345
So I'm thinking like, what, does it have to get to?
321
00:17:46,725 --> 00:17:49,156
but then maybe it's not about the interest rate they're purchasing.
322
00:17:49,156 --> 00:17:49,838
Maybe.
323
00:17:49,838 --> 00:17:52,398
It's like you were mentioning that they have to sell their own home.
324
00:17:52,398 --> 00:17:55,898
And if the interest rate is high, then maybe that's where the struggle is, right?
325
00:17:55,898 --> 00:17:58,248
The builders are giving them a good interest rate to buy the new home.
326
00:17:58,248 --> 00:18:03,878
But if their buyers have to put, you know, use the higher interest rate, maybe that's the
sticking point.
327
00:18:03,878 --> 00:18:07,218
Yeah, I think maybe it's like a chicken and egg situation.
328
00:18:07,218 --> 00:18:08,348
It's what it would do.
329
00:18:08,348 --> 00:18:14,630
It's really kind of a catch 22 and buyers are, this is where I mean, I'll plug my good
friends at Open Door right now.
330
00:18:14,768 --> 00:18:20,350
think about what you can do using a company like open door to help you get that certainty
and sell your home.
331
00:18:20,350 --> 00:18:30,584
If you're trying to buy, there's just so many creative options that I love that have come
onto the market to help buyers, buyers and sellers really meet their needs and move
332
00:18:30,584 --> 00:18:32,275
forward to the next phase of life.
333
00:18:32,275 --> 00:18:33,766
So, yeah.
334
00:18:33,806 --> 00:18:34,106
Yeah.
335
00:18:34,106 --> 00:18:35,907
Of course, you know, we love open door.
336
00:18:36,137 --> 00:18:39,068
and I was just talking with them literally yesterday.
337
00:18:39,068 --> 00:18:43,980
I was with the team and they were saying, we're seeing a lot of people come in saying, I
have a home to sell.
338
00:18:43,980 --> 00:18:44,330
Right?
339
00:18:44,330 --> 00:18:45,451
And so they're like, how do we do it?
340
00:18:45,451 --> 00:18:51,773
And we haven't heard that in years because, you know, they weren't so much worried about
the sale of their home before they were just worried about getting a purchase of a new
341
00:18:51,773 --> 00:18:52,293
home.
342
00:18:52,293 --> 00:18:55,075
So all of a sudden salespeople were like, what do I do with this?
343
00:18:55,075 --> 00:18:57,075
Like, how do I handle this objection?
344
00:18:57,075 --> 00:18:58,738
And I was like, well, have you heard of open door?
345
00:18:58,738 --> 00:18:59,266
I mean, right.
346
00:18:59,266 --> 00:19:03,028
Like he gives so many solutions to this issue.
347
00:19:03,028 --> 00:19:03,748
Yeah.
348
00:19:03,748 --> 00:19:06,399
There's so many creative ways to get things done.
349
00:19:06,399 --> 00:19:07,109
And you're right.
350
00:19:07,109 --> 00:19:12,802
Because what we're seeing now is resale is kind of ticking up a little bit in many markets
around the country.
351
00:19:13,374 --> 00:19:15,165
So we're seeing more price reductions.
352
00:19:15,165 --> 00:19:25,477
We're seeing fewer offers on a house and, it's going to start to get more and more
competitive while we're in this climate of these elevated, prolonged and elevated interest
353
00:19:25,477 --> 00:19:26,397
rates.
354
00:19:26,558 --> 00:19:32,659
other decisions do you think home builders need to be making right now to stay competitive
in this market?
355
00:19:32,659 --> 00:19:33,900
Home builders?
356
00:19:33,900 --> 00:19:34,940
You know what?
357
00:19:34,940 --> 00:19:42,658
We're in a really good, new construction is in a better spot than new construction has
ever been in the history of the segment of building that we're talking about.
358
00:19:42,658 --> 00:19:52,791
There is so much technology that builders can utilize to kind of give buyers the same
experience that they would get buying a resale home.
359
00:19:52,791 --> 00:19:55,802
So you've got this awesome technology for virtual staging.
360
00:19:55,802 --> 00:20:01,123
So buyers can picture what furniture would look like maybe even if a house isn't even
under construction yet.
361
00:20:01,204 --> 00:20:09,634
You've got 3D tours, you've got interactive floor plans, you've got all this goodness that
has really kind of been on a fast track since COVID.
362
00:20:09,634 --> 00:20:12,426
because we couldn't necessarily go into homes during COVID.
363
00:20:12,426 --> 00:20:21,791
so technology took over and we can really, builders can give buyers a sense of what being
in a home is like without ever stepping foot into a home.
364
00:20:21,791 --> 00:20:24,742
And that is something that builders have never been able to do before.
365
00:20:24,742 --> 00:20:30,274
And that's I think why, because as a buyer, we have a hard time picturing what a space is
gonna look like.
366
00:20:30,274 --> 00:20:37,049
I think I read something once that was like, most people can't even get past a paint color
to see what a new paint color would be like.
367
00:20:37,049 --> 00:20:39,404
So think if you're staring at a piece of dirt.
368
00:20:39,404 --> 00:20:40,574
How hard that is.
369
00:20:40,574 --> 00:20:41,616
That's so true.
370
00:20:41,616 --> 00:20:43,397
Yeah, it's so hard to picture it.
371
00:20:43,397 --> 00:20:49,961
And now we've got these tools to really help new construction compete and be a viable
option for so many buyers.
372
00:20:50,122 --> 00:20:52,463
Yeah, and getting better and better every day.
373
00:20:52,563 --> 00:20:53,144
Absolutely.
374
00:20:53,144 --> 00:20:54,244
And cheaper and cheaper.
375
00:20:54,244 --> 00:20:55,545
It's really right.
376
00:20:55,545 --> 00:20:57,187
We've seen the cost come down.
377
00:20:57,187 --> 00:20:58,618
We know consumers want it.
378
00:20:58,618 --> 00:21:02,524
And so at this point, it's kind of like, hey, why are you not?
379
00:21:02,524 --> 00:21:05,532
Why we not doing this on every single listing?
380
00:21:05,532 --> 00:21:06,713
Let's do it.
381
00:21:06,713 --> 00:21:08,106
Yeah, I agree.
382
00:21:08,106 --> 00:21:10,037
So as we're talking about technology, right?
383
00:21:10,037 --> 00:21:14,751
We're talking about how builders can use technology in their marketing and selling
efforts.
384
00:21:14,751 --> 00:21:24,349
But I was also reading something interesting recently that was talking about how buyers
are really focusing on the technology used in homes or right.
385
00:21:24,349 --> 00:21:26,000
They want all the gadgets, right?
386
00:21:26,000 --> 00:21:30,143
Like recently I was looking for a new car and I really wanted to buy the Tesla.
387
00:21:30,143 --> 00:21:32,956
I really did because the technology was just so cool.
388
00:21:32,956 --> 00:21:33,886
I didn't.
389
00:21:34,499 --> 00:21:42,443
But it was so much fun to play with, And so I can see how people would want to use that
type of thing in their home as well.
390
00:21:42,443 --> 00:21:45,825
So what is the data telling us about those types of trends?
391
00:21:45,825 --> 00:21:53,899
Smart home technology is, it's an expectation for buyers that are buying, especially new
construction, because you're building something from the ground up.
392
00:21:53,899 --> 00:21:59,232
You're not trying to retrofit this smart home technology into, I live in a house that was
built in 1905.
393
00:21:59,232 --> 00:22:01,673
So we're really trying to play catch up.
394
00:22:02,538 --> 00:22:05,761
on getting some, we've got an Alexa, there you go.
395
00:22:05,761 --> 00:22:08,983
But buyers, they're keenly focused on this.
396
00:22:08,983 --> 00:22:17,890
And I'm telling you, as our buyer demographics are getting younger and younger, these are
generations that have grown up with technology and they're not really willing to live
397
00:22:17,890 --> 00:22:18,481
without it.
398
00:22:18,481 --> 00:22:26,358
So, now looking at Gen Z, who's gonna be our next buyer, they've never known a world
without Amazon, lucky ducks.
399
00:22:26,358 --> 00:22:32,346
So what they're gonna expect the world in their homes and that's security and lighting.
400
00:22:32,346 --> 00:22:39,450
and our, our smart home assistance and whatever other technology they can get is going to
become an exception, an expectation.
401
00:22:39,450 --> 00:22:47,575
So builders really need to start thinking about how to take advantage of that and start
marketing it and, paying attention to those up and coming buyers.
402
00:22:47,575 --> 00:22:48,486
Yeah, I agree.
403
00:22:48,486 --> 00:22:52,638
I mean, I guess I'm a gen X so I'm okay because I got, I can tell you that Cajun, I got
you beat.
404
00:22:52,638 --> 00:22:54,676
My house is 1812.
405
00:22:54,752 --> 00:22:55,480
cool.
406
00:22:55,480 --> 00:22:56,871
And I don't even have Alexa.
407
00:22:56,871 --> 00:22:58,181
have Sonos.
408
00:23:00,846 --> 00:23:01,846
That is so cool.
409
00:23:01,846 --> 00:23:04,286
mean, it's trade off, right?
410
00:23:04,286 --> 00:23:05,586
get the terribly...
411
00:23:05,586 --> 00:23:07,066
Yeah, have donkeys, right?
412
00:23:07,066 --> 00:23:10,746
So you can either have technology or donkeys, but you can't have both.
413
00:23:12,246 --> 00:23:15,646
I mean, if we have to choose, I'm choosing the donkeys too.
414
00:23:15,846 --> 00:23:16,156
Right.
415
00:23:16,156 --> 00:23:16,326
Yeah.
416
00:23:16,326 --> 00:23:17,135
I mean, let's just have it all.
417
00:23:17,135 --> 00:23:18,686
And the ADU.
418
00:23:18,906 --> 00:23:22,126
We got to do here, I you need to come visit.
419
00:23:22,126 --> 00:23:24,166
We got lots of things to do.
420
00:23:24,166 --> 00:23:26,026
Yeah, I'll be right over.
421
00:23:27,142 --> 00:23:31,585
So, you know, I just love this so much of this conversation is focused on the future.
422
00:23:31,585 --> 00:23:33,806
like you said, home building isn't a great place.
423
00:23:33,806 --> 00:23:37,955
think a lot of times people are looking around right now and going, man, what's going to
happen?
424
00:23:37,955 --> 00:23:38,679
And I'm with you.
425
00:23:38,679 --> 00:23:43,071
Like, I think the future is bright and I think we got a lot to be excited about.
426
00:23:43,071 --> 00:23:49,134
The data tells us, right, that people want homes, they want homes and there may be some
affordability, but they're looking for ways around that.
427
00:23:49,134 --> 00:23:49,388
Right.
428
00:23:49,388 --> 00:23:50,825
And they're very clear on what they want.
429
00:23:50,825 --> 00:23:54,607
Give us our pets, give us our, our smart screens and our technology.
430
00:23:54,607 --> 00:23:55,598
We'll come by your home.
431
00:23:55,598 --> 00:23:58,038
like that's just what we want to do.
432
00:23:58,218 --> 00:24:05,918
We talk a lot about the affordability crisis on this podcast and it's something that the
whole industry obviously takes really, really seriously.
433
00:24:06,278 --> 00:24:18,658
And you and I are involved in the Shebuilt Foundation and the Shebuilt Foundation really
is sort of talking about growing the next generation of people for home building, right?
434
00:24:18,658 --> 00:24:23,694
And how these new mines and how the things that that could do could potentially affect
435
00:24:23,694 --> 00:24:25,394
help with the affordability crisis.
436
00:24:25,394 --> 00:24:26,294
So what are you thinking?
437
00:24:26,294 --> 00:24:30,194
Can you tell the audience a little bit about that and how all that works?
438
00:24:30,194 --> 00:24:30,794
Absolutely.
439
00:24:30,794 --> 00:24:32,014
Thank you for bringing it up.
440
00:24:32,014 --> 00:24:36,574
would love any opportunity to talk about the She Built Foundation and the house that she
built.
441
00:24:38,594 --> 00:24:39,304
I know.
442
00:24:39,304 --> 00:24:40,304
see it in your background.
443
00:24:40,304 --> 00:24:41,754
makes me so happy.
444
00:24:42,094 --> 00:24:45,274
I love you can walk into a room.
445
00:24:45,694 --> 00:24:47,474
I just was at the Denver HBA.
446
00:24:47,474 --> 00:24:51,374
They had an event a couple of weeks ago and I brought 35 books with me.
447
00:24:51,374 --> 00:24:55,993
and just did five minutes on stage about what the book was.
448
00:24:56,014 --> 00:24:58,234
And the energy in the room changed.
449
00:24:58,234 --> 00:24:59,654
It was amazing.
450
00:24:59,654 --> 00:25:00,734
Those books went like that.
451
00:25:00,734 --> 00:25:03,014
I needed 150, not 35.
452
00:25:03,014 --> 00:25:06,174
But people are excited about this.
453
00:25:06,174 --> 00:25:12,664
it's, I learned when I first came over to the new construction side of Zillow, I started
just asking questions.
454
00:25:12,664 --> 00:25:15,954
What's top of mind and what issues are we thinking about?
455
00:25:15,954 --> 00:25:17,734
What's going to be?
456
00:25:17,858 --> 00:25:20,270
what's going to be on our minds for the long term.
457
00:25:20,270 --> 00:25:23,862
And the number one thing by and large was workforce development.
458
00:25:23,903 --> 00:25:29,928
And I learned that the majority of skilled trades workers in this country are nearing
retirement.
459
00:25:29,928 --> 00:25:33,291
The average age of a plumber is something like 57.
460
00:25:33,291 --> 00:25:36,954
The average age of an electrician is something like 59.
461
00:25:36,954 --> 00:25:42,028
And that's pretty scary because supply and demand affects everything, right?
462
00:25:42,028 --> 00:25:47,412
So if you have a lower supply of skilled trades, the ones that are around are going to
start
463
00:25:47,412 --> 00:25:48,392
raising their prices.
464
00:25:48,392 --> 00:25:50,204
That's just how things work.
465
00:25:50,324 --> 00:26:00,331
And so when you met Molly and got introduced to this book that's really aimed at getting
kids, all kids, not just little girls, but all kids interested in the skilled trades,
466
00:26:00,331 --> 00:26:05,515
before those biases start forming, I was like, let me just let me add it.
467
00:26:05,515 --> 00:26:10,158
Let me be involved however I can, because this is addressing the problem.
468
00:26:10,378 --> 00:26:12,460
that we're going to have for a long time.
469
00:26:12,460 --> 00:26:20,005
And four-year universities aren't meant for everybody, but for whatever reason, our
generation got stuck.
470
00:26:20,005 --> 00:26:23,717
We drank the Kool-Aid, and we got stuck on this four-year education.
471
00:26:23,717 --> 00:26:25,579
It's expensive Kool-Aid.
472
00:26:25,579 --> 00:26:27,429
Yes, exactly.
473
00:26:27,630 --> 00:26:36,766
And so we're- Yeah, is a missing, there's a gap in workforce development right now and in
the trades.
474
00:26:36,766 --> 00:26:39,918
And so this book,
475
00:26:40,128 --> 00:26:42,599
is doing wonders to get kids interested.
476
00:26:42,599 --> 00:26:47,582
We have builder partners that will put this book in their sales centers for like in their
little kid play area.
477
00:26:47,582 --> 00:26:49,133
I know it's so cute.
478
00:26:49,133 --> 00:26:50,004
I love it.
479
00:26:50,004 --> 00:26:52,755
Yes, they tell us how well used they are.
480
00:26:52,755 --> 00:26:57,668
They're just like tattered because the kids love it so much.
481
00:26:58,028 --> 00:27:00,299
We did a project with the new construction team at Zillow.
482
00:27:00,299 --> 00:27:01,690
There's about 80 of us.
483
00:27:01,690 --> 00:27:09,014
And I sent every single person on the team a book with the challenge to go to their local
school or library and donate that book.
484
00:27:09,034 --> 00:27:15,378
and document it, put it on LinkedIn so that we can start to spread the message.
485
00:27:15,479 --> 00:27:21,423
And they took that assignment and ran with it just to start getting the message out.
486
00:27:21,423 --> 00:27:32,190
so to watch the She Built book now turn into a nonprofit foundation and kind of get its
web out even further is something, it's a phenomenon.
487
00:27:32,190 --> 00:27:33,110
Yeah.
488
00:27:33,151 --> 00:27:33,771
No, I agree.
489
00:27:33,771 --> 00:27:38,060
mean, my son, you talk about, you know, it's not four years, universities aren't for
everybody.
490
00:27:38,060 --> 00:27:42,573
My son is a freshman in high school and he's already like, listen, it's not for me.
491
00:27:42,573 --> 00:27:44,544
Like he does want to be an electrician.
492
00:27:44,544 --> 00:27:49,076
Like he was rewiring antique sconces when he was eight years old, right?
493
00:27:49,076 --> 00:27:51,537
It's just how his mind works.
494
00:27:51,718 --> 00:27:54,089
So he very much is like, I want to be a trade.
495
00:27:54,089 --> 00:27:56,641
And I was like, buddy, that's a great path for you right now.
496
00:27:56,641 --> 00:27:57,762
So yeah.
497
00:27:57,762 --> 00:28:00,613
And listen, we're a whole family of home building.
498
00:28:00,613 --> 00:28:02,925
we're, my husband's career home building.
499
00:28:02,925 --> 00:28:05,844
My daughter is now involved in the Shebuilt Foundation.
500
00:28:05,844 --> 00:28:12,962
She is running, she is the national captain for the youth ambassador program.
501
00:28:13,063 --> 00:28:15,416
So trying to get the message out to high schoolers, right?
502
00:28:15,416 --> 00:28:20,232
What a great time to catcher them before maybe they drink expensive Kool-Aid, right?
503
00:28:20,232 --> 00:28:22,234
Let's show them that there's an option.
504
00:28:22,495 --> 00:28:23,856
That's right.
505
00:28:23,897 --> 00:28:25,024
can get out of...
506
00:28:25,024 --> 00:28:31,790
out of high school and starts doing something that you're really interested in, something
that you love without the debt of a four year university.
507
00:28:31,790 --> 00:28:35,983
And you can start making money right away in doing something that you love.
508
00:28:35,983 --> 00:28:44,630
And that is, I'm so glad that this has become a viable option again, because it just,
there's that gap that is missing.
509
00:28:44,991 --> 00:28:45,811
I agree.
510
00:28:45,811 --> 00:28:46,732
I agree.
511
00:28:46,732 --> 00:28:51,186
Well, Kajra, I could sit here and talk with you for another hour, but I promised you I
wouldn't.
512
00:28:51,186 --> 00:28:54,356
So thank you so much for spending your time with us.
513
00:28:54,356 --> 00:28:56,187
I really appreciate your insights.
514
00:28:56,187 --> 00:28:59,009
know our audience is going to be thrilled to hear what you have to say.
515
00:28:59,009 --> 00:29:03,473
Thank you so much for taking the time and we'll look forward to connecting again really
soon.
516
00:29:03,473 --> 00:29:04,273
Thanks, Amy.
517
00:29:04,273 --> 00:29:05,964
Appreciate being here.
518
00:29:11,446 --> 00:29:12,177
Again, right?
519
00:29:12,177 --> 00:29:19,533
Another rock star guest that just has some amazing insights for us into what's happening
in the home building industry.
520
00:29:19,533 --> 00:29:21,776
Anything specific that caught your attention?
521
00:29:21,776 --> 00:29:23,117
Pets are people too.
522
00:29:23,117 --> 00:29:24,188
No, I'm just kidding.
523
00:29:24,188 --> 00:29:24,948
That was worse.
524
00:29:24,948 --> 00:29:26,360
That was weird.
525
00:29:26,360 --> 00:29:33,936
favorite takeaways is how easy is it to implement that in the new construction industry?
526
00:29:33,936 --> 00:29:38,006
All you need is a closet under the stairs, which I think everybody has.
527
00:29:38,006 --> 00:29:41,927
and just merchandise it as a really cool pet outcove.
528
00:29:41,927 --> 00:29:44,688
Don't use it for stores for all the home site signs.
529
00:29:44,688 --> 00:29:54,610
Like there's some really cool ways that people could tap into these trends, really cost
effective ways and appeal to a lot of buyers on that emotional level.
530
00:29:54,610 --> 00:29:57,991
And at the end of the day, buying a home is such an emotional process.
531
00:29:57,991 --> 00:30:01,392
Why not do the easy things to make it better for your customers?
532
00:30:01,792 --> 00:30:02,833
It's so true.
533
00:30:02,833 --> 00:30:05,593
And you know how I feel about pets, especially cats.
534
00:30:05,593 --> 00:30:07,064
So I'm all, I'm all for it.
535
00:30:07,064 --> 00:30:07,966
I'm all for it.
536
00:30:07,966 --> 00:30:10,788
I know, I know, I know, but here we are.
537
00:30:11,049 --> 00:30:18,715
so yeah, no, I love the data she brings, always insightful with the strategies that we
should be thinking about the trends that we should be looking forward to.
538
00:30:18,715 --> 00:30:24,700
So continue please to follow Kadra and Zillow for some of the best market information
you're ever going to get.
539
00:30:24,700 --> 00:30:28,414
So everyone, thank you for another episode of Builder 365.
540
00:30:28,414 --> 00:30:32,115
We appreciate you being here and we look forward to seeing you next time.
541
00:30:32,115 --> 00:30:33,046
Bye.
00:00:00,174 --> 00:00:09,234
This is why new construction is such a big draw is because builders are able to do a lot
of things that a typical seller of a resale home isn't able to do.
2
00:00:09,234 --> 00:00:16,826
And so being that budget conscious and really paying attention to that monthly payment,
builders are able to kind of meet that need.
3
00:00:24,942 --> 00:00:28,582
Welcome back to another episode of Builder 365.
4
00:00:28,582 --> 00:00:33,682
I'm Amy O'Connor and I'm still your primary host while Jeff is on sabbatical.
5
00:00:33,682 --> 00:00:38,352
And we had such a good time with Mary Beth last time, we just decided to keep bringing her
own back.
6
00:00:38,352 --> 00:00:39,682
So welcome back, Mary Beth.
7
00:00:39,682 --> 00:00:40,572
Thank you.
8
00:00:40,572 --> 00:00:41,982
How are you today?
9
00:00:42,362 --> 00:00:42,892
Good.
10
00:00:42,892 --> 00:00:45,462
It's very, very good to see you and have you here.
11
00:00:45,462 --> 00:00:48,142
And obviously we're not physically together, right?
12
00:00:48,142 --> 00:00:50,412
I mean, we're doing this virtually.
13
00:00:50,478 --> 00:00:53,309
And actually, Shure Consulting has always been a virtual company.
14
00:00:53,309 --> 00:00:56,320
We were virtual even before it was cool.
15
00:00:56,601 --> 00:00:58,031
But you and I both, right?
16
00:00:58,031 --> 00:00:59,462
Yes, exactly.
17
00:00:59,462 --> 00:01:05,784
But you and I both, when we're not on the road working with clients, this is how we work.
18
00:01:05,784 --> 00:01:09,326
you know, and I'm just curious, have you ever had any fails or any mishaps?
19
00:01:09,326 --> 00:01:10,186
You have a family.
20
00:01:10,186 --> 00:01:13,628
Have you ever had a kid like running by behind you in their diaper?
21
00:01:13,628 --> 00:01:16,109
Anything crazy from virtual working?
22
00:01:16,109 --> 00:01:16,669
Okay.
23
00:01:16,669 --> 00:01:19,264
With the bowing of the head, I think maybe there's something here.
24
00:01:19,264 --> 00:01:23,298
I think that enough time has passed that I can admit this.
25
00:01:23,298 --> 00:01:36,729
So when I was a newly minted Shore Consulting employee, and this was one of my first goes
with the home office situation, and I was shadowing you actually on a virtual training and
26
00:01:36,729 --> 00:01:46,318
you were talking, but it was like one of those things where I had to talk some too, but I
had to be on camera and, you know, felt like there was a little pressure proving myself.
27
00:01:46,318 --> 00:01:46,954
And then
28
00:01:46,954 --> 00:01:51,238
Jeff popped on unexpectedly, the man himself, right?
29
00:01:51,238 --> 00:01:56,061
And as all this is happening, and I'm like, okay, fix your face, don't be nervous, it's
all good.
30
00:01:56,502 --> 00:02:00,575
That is when the door opens and the four-year-old comes in.
31
00:02:00,575 --> 00:02:05,429
Now, the problem with the four-year-old is not the four-year-old, he's adorable, I'd
happily get him on camera.
32
00:02:05,429 --> 00:02:10,233
It's the fact that the four-year-old doesn't always believe in wearing pants.
33
00:02:11,074 --> 00:02:12,595
Whoa.
34
00:02:12,595 --> 00:02:16,140
You're talking about diaper, if only I could have been so lucky.
35
00:02:16,140 --> 00:02:25,747
So as I was looking at you, Jeff, a classroom full of eager sales professionals, I'm
literally trying to look at the camera and push him away and text the nanny without
36
00:02:25,747 --> 00:02:30,480
looking like I'm texting the nanny like, please come get my child, thanks.
37
00:02:30,480 --> 00:02:33,832
Yes, yes, many a blooper, but that was probably We've certainly all been there.
38
00:02:33,832 --> 00:02:36,304
And if it makes you feel any better, I have no memory of that.
39
00:02:36,304 --> 00:02:42,008
So you must have done just fine because I don't remember being like, yeah, I'm glad you
said that, Mary Beth, because I remember that.
40
00:02:42,008 --> 00:02:43,039
don't, no memory.
41
00:02:43,039 --> 00:02:45,144
No memory of that happening I feel like one of the
42
00:02:45,144 --> 00:02:53,937
core skills as a sales pro that you have to have is no matter what is going on around you
in your phone, you have to always keep your face.
43
00:02:54,478 --> 00:02:55,514
So here's that.
44
00:02:55,514 --> 00:02:57,329
It's true and that is not always easy.
45
00:02:57,329 --> 00:03:00,420
So yes, it is definitely a skill that you build when you are virtually.
46
00:03:00,420 --> 00:03:07,423
Well, listen, before we bring on our next guest, let me tell you that Builder 365 is
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47
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48
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49
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50
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51
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52
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53
00:03:35,300 --> 00:03:36,411
or mortgages.
54
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55
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56
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57
00:03:50,853 --> 00:03:59,919
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helping them get into their newly built home on their ideal timeline.
58
00:03:59,919 --> 00:04:05,176
Get started today at opendoor.com backslash builder 365.
59
00:04:05,176 --> 00:04:11,469
So Marybeth, again, you we're always looking for new and cool things that are happening in
home building.
60
00:04:11,469 --> 00:04:14,390
Have you heard about ADUs?
61
00:04:14,971 --> 00:04:16,891
Yes, yes I have.
62
00:04:16,891 --> 00:04:18,992
Accessory dwelling units?
63
00:04:18,992 --> 00:04:19,993
Why do you ask?
64
00:04:19,993 --> 00:04:31,318
Well, it was just interesting because I'm seeing the popularity really sort of ratchet up
in California and then switching over to Colorado and Arizona and Hawaii.
65
00:04:31,318 --> 00:04:33,599
And we're just seeing more and more of these.
66
00:04:33,599 --> 00:04:34,649
Now I'm a little curious.
67
00:04:34,649 --> 00:04:41,262
I don't really understand how that's different than a Casita, which we've seen for quite a
long time in places like Arizona.
68
00:04:41,562 --> 00:04:43,673
But it's this evolution that we're seeing.
69
00:04:43,673 --> 00:04:47,765
And of course the accessory is the accessory to the primary home, right?
70
00:04:47,765 --> 00:04:56,448
So there's a primary residence and then we have this accessory dwelling that in California
can actually be sold independently, which I thought was interesting.
71
00:04:56,448 --> 00:04:58,229
They have separate entrances.
72
00:04:58,229 --> 00:04:59,119
They have amenities.
73
00:04:59,119 --> 00:05:00,696
They have HVAC systems.
74
00:05:00,696 --> 00:05:04,948
They're usually less than a thousand square feet and usually one to two bedrooms.
75
00:05:05,128 --> 00:05:13,922
Now, I think the interesting thing that we're seeing right now is we're mostly seeing
these in high-end developments, but I'm interested in the conversation of, this help with
76
00:05:13,922 --> 00:05:16,573
the housing crisis and the affordability crisis?
77
00:05:16,573 --> 00:05:17,293
What do you think?
78
00:05:17,293 --> 00:05:18,386
Absolutely.
79
00:05:18,386 --> 00:05:24,256
You know, my first home, we actually had, well, it was an ADU light.
80
00:05:24,256 --> 00:05:25,807
had its own entrance.
81
00:05:25,807 --> 00:05:27,998
It didn't have its own driveway.
82
00:05:28,426 --> 00:05:39,652
And it was really, really helpful because we were able to help Tucker's brother, who was
in grad school, have a very affordable, very comfortable place to live.
83
00:05:39,652 --> 00:05:41,383
And so it was great for him.
84
00:05:41,383 --> 00:05:43,094
It was great for us.
85
00:05:43,554 --> 00:05:46,516
You know, I think that that was a wonderful option.
86
00:05:46,516 --> 00:05:50,978
And actually, I didn't even think about it, but not too long ago, Tucker and I
87
00:05:51,266 --> 00:05:53,507
what it would cost to build one here.
88
00:05:53,507 --> 00:06:03,033
And actually we're looking at how to get road access from the back of our home site to the
road that goes back behind our property so that we can have a completely separate
89
00:06:03,033 --> 00:06:04,153
dwelling.
90
00:06:04,613 --> 00:06:10,597
And yeah, I think it's a great way for, I'd probably run it out to family members,
friends.
91
00:06:10,597 --> 00:06:20,842
There's a university up the street, actually two universities up the street, but that
would be a killer way to make some secondary income for us or help out family in need.
92
00:06:20,844 --> 00:06:21,864
Yeah, that's what going to ask you.
93
00:06:21,864 --> 00:06:25,075
So for you, you were seeing it as an investment opportunity.
94
00:06:25,075 --> 00:06:26,956
Investment opportunity for sure.
95
00:06:26,956 --> 00:06:31,317
Because ultimately, I think we're going to turn this property into a rental property.
96
00:06:31,317 --> 00:06:35,138
And it would be basically a double rental property at that point.
97
00:06:35,138 --> 00:06:39,499
out the front, rent out the I mean, two income streams for the price of one.
98
00:06:39,499 --> 00:06:40,750
Well, I I have 12 acres.
99
00:06:40,750 --> 00:06:43,080
I wonder how many ADUs I could build on this thing.
100
00:06:43,080 --> 00:06:45,481
I don't know what kind of income I could start generating.
101
00:06:45,481 --> 00:06:47,151
Listen, my husband will never go for it.
102
00:06:47,151 --> 00:06:49,322
So, you know, it's all theory.
103
00:06:49,686 --> 00:06:52,258
but, but yeah, no, think it's, I think it's super cool.
104
00:06:52,258 --> 00:06:59,972
think it addresses so many things like generational living, perhaps affordability, perhaps
giving people extra income.
105
00:07:00,279 --> 00:07:02,924
I'm interested to see where the industry goes with that.
106
00:07:02,924 --> 00:07:05,635
And I, I totally be a fan for seeing more of it.
107
00:07:05,635 --> 00:07:13,019
Amy, if you turn a couple acres of your farmland into a dream site, we could totally do
this.
108
00:07:13,019 --> 00:07:14,090
I have a vision.
109
00:07:14,090 --> 00:07:16,061
No, people are awful.
110
00:07:16,061 --> 00:07:17,838
No, people don't don't know.
111
00:07:17,838 --> 00:07:21,928
They'll leave trash and they'll, I don't know, harass the donkeys.
112
00:07:21,928 --> 00:07:22,788
It's too much.
113
00:07:22,788 --> 00:07:23,438
It's too much.
114
00:07:23,438 --> 00:07:25,168
It's not I'll you a proposal.
115
00:07:25,168 --> 00:07:25,968
It's not for us.
116
00:07:25,968 --> 00:07:27,208
And then you can make your decision.
117
00:07:27,208 --> 00:07:28,158
Okay?
118
00:07:28,158 --> 00:07:28,708
Okay.
119
00:07:28,708 --> 00:07:29,018
All right.
120
00:07:29,018 --> 00:07:32,178
Well, we'll work out a business plan and then we'll see what we can pass by Richard.
121
00:07:32,178 --> 00:07:32,758
Okay.
122
00:07:32,758 --> 00:07:33,318
Sounds good.
123
00:07:33,318 --> 00:07:35,898
Well, we have another special guest interview for you today.
124
00:07:35,898 --> 00:07:42,598
Her name is Kedra Evans and she's the Director of Industry Relations and Sales for New
Construction with Zillow.
125
00:07:42,598 --> 00:07:47,768
She's on the executive team of the home that she built along with me and she's funny.
126
00:07:47,768 --> 00:07:49,005
fun and smart.
127
00:07:49,005 --> 00:07:50,091
think you're going to love this.
128
00:07:50,091 --> 00:07:51,194
Take a listen.
129
00:07:55,310 --> 00:07:57,831
Well, Cajer, thank you so much for taking the time.
130
00:07:57,831 --> 00:08:03,476
I got to tell you, I have fan girled over you for so, so, so long.
131
00:08:03,577 --> 00:08:08,982
And I love that Molly Elkman originally connected us and we are connected through the
SheBilt Foundation.
132
00:08:08,982 --> 00:08:12,585
We both sort of serve on the executive leadership group for that.
133
00:08:12,585 --> 00:08:15,757
And then your kind presentation to WLC this year.
134
00:08:15,757 --> 00:08:17,169
So thank you.
135
00:08:17,169 --> 00:08:19,180
Thrilled to have you on the podcast.
136
00:08:19,180 --> 00:08:19,540
my gosh.
137
00:08:19,540 --> 00:08:20,671
Thanks so much for having me.
138
00:08:20,671 --> 00:08:27,475
It's been such a joy getting to know you and just be more involved with all the goodness
that short consulting has going on too.
139
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Thank you.
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We love that.
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Well, let's jump right in because I got to tell you, I know that our audience is super
excited to hear what you have to say and the data and the perspective that you bring.
142
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So let's start with telling us a little bit about your job at Zillow.
143
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What exactly does a director of industry relations and sales do?
144
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It's a great question.
145
00:08:48,246 --> 00:08:51,707
because it's kind of an odd title for a job, right?
146
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So industry relations is really just an external face of the business.
147
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So for so long at Zillow, we were kind of these behind the scenes tech people.
148
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And industry relations came into the fold in about 2015, just in an effort to start
getting out into the industry.
149
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So we birthed the new construction industry relations role about three years ago.
150
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And I've been able to kind of go to conferences.
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Be on stage, share all this awesome data that Zillow has, and just really start to be a
presence, like an ongoing presence in the industry that the people see and they now can
152
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associate industry relations and Zillow and all the things that we do.
153
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And then I took over, there's that sales piece in the title too.
154
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So I took over a sales team this spring and the sales team is the team that's responsible
for bringing in brand new builders.
155
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We work with most of the big builders.
156
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There's still a lot of builders that are smaller that we don't necessarily work with.
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So this team works to bring in that net new business.
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That's fantastic.
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That's very exciting.
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00:09:59,677 --> 00:10:03,246
So your role is expanding, doing a little more every day.
161
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It seems like I'm doing a little more every day.
162
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Yes.
163
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But they just do it just enough so you don't quit, right?
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Just enough for where it's not too much.
165
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Yeah.
166
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I gotcha.
167
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I gotcha.
168
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So, well, listen, I know our audience is thrilled to hear about the data that Zillow has
in the perspective.
169
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So again, so excited to have you.
170
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So tell us from a data perspective, what are some consumer preferences that you are seeing
maybe changing in the market?
171
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Are there any surprising insights that y'all been picking up on?
172
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There are, there's some things, you know, we've had this new construction consumer housing
trends book for the last four years, and that was kind of the pandemic time, right?
173
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So we've seen some of the data since the pandemic really shift in trends, and some of it
has stayed the same.
174
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Some of the newest trends that came out in this year's data, which I tend to love these
two particular things, one is pets.
175
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Pets are becoming more and more important every day.
176
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We are starting to use, we're making decisions based on our, our fur babies.
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So for sure.
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would do, I do.
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Yeah.
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Yeah.
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So this is data that we're learning about in these surveys that we send out is how
important our pets are to us.
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And so we talk a lot to marketers about shining a spotlight on all the great features that
you've got for pets.
183
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So maybe you've got a dog washing station.
184
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my house, just did a second floor remodel and my request was a hidden litter box for the
cats.
185
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So we've got a hidden litter box under the shower bench that the cats can get to.
186
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the shower bench.
187
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That's interesting.
188
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Yeah.
189
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It's, it's, it's, it was built in.
190
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it faces, it's not in the shower.
191
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It's right outside of the right where that bench is.
192
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And so it's, we think about our pets a lot.
193
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Yeah.
194
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Yeah.
195
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I have five cats and two donkeys.
196
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So yes, I think about them a lot.
197
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Can I come visit?
198
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Yes, but they bite.
199
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yes, but yes.
200
00:12:00,152 --> 00:12:01,543
Just ask Alexis Dries.
201
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Yes, they will bite.
202
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The donkeys bite or the cats?
203
00:12:05,475 --> 00:12:09,037
Well, probably both, but the donkeys are a little more nippy than the cats.
204
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Okay.
205
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my gosh.
206
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I'm so jealous.
207
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Donkeys.
208
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I'm an animal lover to the cores.
209
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Okay.
210
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All right.
211
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Well, then you have to come.
212
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I will.
213
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I will.
214
00:12:17,730 --> 00:12:28,768
So back to trends, the other one that we're really seeing start to grow in popularity, and
again, it's a generational kind of difference between maybe boomers and millennials, but
215
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as a response to this major affordability crisis that we are facing right now, we're
starting to see a major uptick in the desire to have either part or all of a home that you
216
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can rent.
217
00:12:41,568 --> 00:12:44,686
So buyers are looking for ways to offset
218
00:12:44,686 --> 00:12:49,926
their mortgage payments, maybe by renting out an ADU or their basement or some piece.
219
00:12:49,926 --> 00:12:58,006
And they also want to make sure that this is something that they can rent out either now
or in the future, just maybe as an investment from an investment point of view.
220
00:12:58,346 --> 00:12:59,546
It's so funny that you bring that up.
221
00:12:59,546 --> 00:13:04,386
I was just yesterday reading an article on LinkedIn talking about ADU's, right?
222
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Accessory dwelling unit.
223
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Am I getting that right?
224
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Accessory dwelling unit.
225
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That's right.
226
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these are basic.
227
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It's a builder term.
228
00:13:11,900 --> 00:13:13,460
We've got to find a better term.
229
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We do.
230
00:13:13,980 --> 00:13:18,230
Well, is casita the same thing as a casita or is a casita different?
231
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That's a great question.
232
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I don't know.
233
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I would think they're probably very similar.
234
00:13:22,120 --> 00:13:24,510
Maybe it's just semantics, right?
235
00:13:24,590 --> 00:13:33,630
Like the ADU, it's really by definition, it's just a unit that's separate from the home
that's on maybe the same lot as the primary structure.
236
00:13:33,630 --> 00:13:36,738
So I think casita falls in that definition, right?
237
00:13:36,738 --> 00:13:41,221
Yeah, I mean, think so, They're usually around a thousand square feet, one-ish bedrooms.
238
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They're independently run, right?
239
00:13:42,672 --> 00:13:45,653
They have the amenities that you would need in a private interest.
240
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I think that that's the definition and I think it fits both.
241
00:13:48,605 --> 00:13:54,889
But it's interesting that you talk about that from the, that give us any relief in the
affordability crisis?
242
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Because that's exactly what the article was talking about, right?
243
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Is this going to give us the means to be able to do that?
244
00:14:01,673 --> 00:14:03,974
So you're seeing people want to rent these spaces.
245
00:14:03,974 --> 00:14:06,555
That's what the data is telling us.
246
00:14:06,556 --> 00:14:15,287
Even just four years ago, was about, it was just a little over 20 % of buyers were telling
us that they wanted this and now it's well over 50%.
247
00:14:15,287 --> 00:14:23,495
So it's a trend that is growing likely as a reaction to this affordability crisis that's
really happened in that last four years.
248
00:14:23,495 --> 00:14:25,186
You've seen prices balloon up.
249
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They're like double, payments are double what they were four years ago.
250
00:14:28,628 --> 00:14:33,280
So we're trying to figure out ways that we can help offset those monthly costs.
251
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Yeah.
252
00:14:34,046 --> 00:14:37,906
I wonder if I can turn one of my barns into an ADU.
253
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I don't know why not.
254
00:14:38,796 --> 00:14:40,426
I wonder what that would.
255
00:14:40,426 --> 00:14:43,426
I wonder what my neighbors would think about that.
256
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I think, I think it sounds great.
257
00:14:44,616 --> 00:14:46,206
I think it sounds great.
258
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Yeah.
259
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Are you going to kick the donkeys out?
260
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no, the donkeys are in a hole.
261
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have two barns.
262
00:14:51,106 --> 00:14:53,206
I, the donkeys are in a hole different thing.
263
00:14:53,206 --> 00:14:53,746
yeah.
264
00:14:53,746 --> 00:14:57,406
No, no, this is going to be the guest cottage cage or for when you come.
265
00:14:57,406 --> 00:15:01,646
It's been my dream to have it a guest cottage, but maybe now I just need to call it an
ADU.
266
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That sounds amazing.
267
00:15:02,606 --> 00:15:04,026
Please don't call it an ADU.
268
00:15:04,026 --> 00:15:09,006
I was in a conference this week and we were like, stop talking builder to buyers.
269
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need to speak a buyer's language, not a builder's language.
270
00:15:13,786 --> 00:15:14,626
yeah.
271
00:15:14,626 --> 00:15:14,886
Yeah.
272
00:15:14,886 --> 00:15:18,526
That's why I Casita, but maybe Casita doesn't feel good for the entire U S right.
273
00:15:18,526 --> 00:15:22,476
Maybe that's more of a, you know, New Mexico, Arizona, sort of a term.
274
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don't know.
275
00:15:23,086 --> 00:15:23,906
I don't know.
276
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California.
277
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What I think of Casita.
278
00:15:25,626 --> 00:15:26,306
Yeah.
279
00:15:26,306 --> 00:15:26,806
Yeah.
280
00:15:26,806 --> 00:15:27,186
Yeah.
281
00:15:27,186 --> 00:15:27,846
For sure.
282
00:15:27,846 --> 00:15:28,506
For sure.
283
00:15:28,506 --> 00:15:29,496
Well,
284
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Cool trends.
285
00:15:30,126 --> 00:15:30,856
would have nested.
286
00:15:30,856 --> 00:15:33,737
I wouldn't want to actually predicted either one of those.
287
00:15:34,207 --> 00:15:40,779
mean, we know we've seen the uptick in things like pet pads and you know, the dog wash
stations, but I did not know it was such a big focus.
288
00:15:40,779 --> 00:15:43,270
And then ADU is again, weird that I had just read that.
289
00:15:43,270 --> 00:15:44,630
So very cool.
290
00:15:44,630 --> 00:15:53,583
So definitely something that our builders need to be thinking about as they're looking at
planning their product and planning, you know, maybe even the way they're doing the land,
291
00:15:53,583 --> 00:15:53,743
right?
292
00:15:53,743 --> 00:15:56,634
Does the land accommodate to have the ADU on it?
293
00:15:56,634 --> 00:15:57,434
Interesting.
294
00:15:57,434 --> 00:15:58,378
So
295
00:15:58,378 --> 00:16:01,741
What are you thinking now as you're looking at the economic landscape?
296
00:16:01,741 --> 00:16:09,687
know, we're, you know, a lot of talk about the interest rates and inflation and how are
you seeing this influencing buyer behavior?
297
00:16:10,408 --> 00:16:13,069
Well, we kind of just talked about a little bit of it.
298
00:16:13,530 --> 00:16:23,037
We have seen prices more than double in some markets and so buyers really are, they're
more budget conscious than they have ever been.
299
00:16:23,732 --> 00:16:25,513
especially new construction buyers.
300
00:16:25,513 --> 00:16:31,125
used to see a little bit of wiggle room on budgets and they're telling us that they are
more conscious of their budget than they've ever been.
301
00:16:31,125 --> 00:16:32,904
Builders are really responding to this though.
302
00:16:32,904 --> 00:16:34,486
I love what builders are doing.
303
00:16:34,486 --> 00:16:37,968
We're seeing builders higher density, smaller lots.
304
00:16:37,968 --> 00:16:42,009
They're really trying to meet the needs of what buyers are asking for.
305
00:16:42,009 --> 00:16:47,031
And so they're able to shrink the square footage of a house and really start making it
more efficient.
306
00:16:47,332 --> 00:16:49,052
And that's what buyers are looking for.
307
00:16:49,052 --> 00:16:50,713
They want to get in the game.
308
00:16:50,713 --> 00:16:53,854
Builders luckily are starting to meet the needs a little bit.
309
00:16:54,586 --> 00:17:04,030
we're seeing, buyers are now in this most recent market, like recent, like September,
we're seeing, we're seeing builders doing more price cuts.
310
00:17:04,030 --> 00:17:10,492
Builders, have been using incentives for the past couple of years as a response to these
higher interest rates.
311
00:17:10,713 --> 00:17:19,596
and still buyers are paying attention and they're really able, this is why new
construction is such a big draw is because builders are able to do a lot of things that a
312
00:17:19,596 --> 00:17:22,757
typical seller of a resale home is unable to do.
313
00:17:23,078 --> 00:17:24,038
and so.
314
00:17:24,321 --> 00:17:30,602
being that budget conscious and really paying attention to that monthly payment, builders
were able to kind of meet that need.
315
00:17:30,682 --> 00:17:31,002
Yeah.
316
00:17:31,002 --> 00:17:32,177
You know, I've been talking, it was funny.
317
00:17:32,177 --> 00:17:35,843
I was talking with just a builder yesterday and I said, well, are y'all buying down the
interest rate?
318
00:17:35,843 --> 00:17:36,023
Right?
319
00:17:36,023 --> 00:17:43,365
So many of them are, in there, you know, but they're, they're buying down the interest
rate, but there's still a lot of shadow demand sitting on the side.
320
00:17:43,365 --> 00:17:46,345
So I'm thinking like, what, does it have to get to?
321
00:17:46,725 --> 00:17:49,156
but then maybe it's not about the interest rate they're purchasing.
322
00:17:49,156 --> 00:17:49,838
Maybe.
323
00:17:49,838 --> 00:17:52,398
It's like you were mentioning that they have to sell their own home.
324
00:17:52,398 --> 00:17:55,898
And if the interest rate is high, then maybe that's where the struggle is, right?
325
00:17:55,898 --> 00:17:58,248
The builders are giving them a good interest rate to buy the new home.
326
00:17:58,248 --> 00:18:03,878
But if their buyers have to put, you know, use the higher interest rate, maybe that's the
sticking point.
327
00:18:03,878 --> 00:18:07,218
Yeah, I think maybe it's like a chicken and egg situation.
328
00:18:07,218 --> 00:18:08,348
It's what it would do.
329
00:18:08,348 --> 00:18:14,630
It's really kind of a catch 22 and buyers are, this is where I mean, I'll plug my good
friends at Open Door right now.
330
00:18:14,768 --> 00:18:20,350
think about what you can do using a company like open door to help you get that certainty
and sell your home.
331
00:18:20,350 --> 00:18:30,584
If you're trying to buy, there's just so many creative options that I love that have come
onto the market to help buyers, buyers and sellers really meet their needs and move
332
00:18:30,584 --> 00:18:32,275
forward to the next phase of life.
333
00:18:32,275 --> 00:18:33,766
So, yeah.
334
00:18:33,806 --> 00:18:34,106
Yeah.
335
00:18:34,106 --> 00:18:35,907
Of course, you know, we love open door.
336
00:18:36,137 --> 00:18:39,068
and I was just talking with them literally yesterday.
337
00:18:39,068 --> 00:18:43,980
I was with the team and they were saying, we're seeing a lot of people come in saying, I
have a home to sell.
338
00:18:43,980 --> 00:18:44,330
Right?
339
00:18:44,330 --> 00:18:45,451
And so they're like, how do we do it?
340
00:18:45,451 --> 00:18:51,773
And we haven't heard that in years because, you know, they weren't so much worried about
the sale of their home before they were just worried about getting a purchase of a new
341
00:18:51,773 --> 00:18:52,293
home.
342
00:18:52,293 --> 00:18:55,075
So all of a sudden salespeople were like, what do I do with this?
343
00:18:55,075 --> 00:18:57,075
Like, how do I handle this objection?
344
00:18:57,075 --> 00:18:58,738
And I was like, well, have you heard of open door?
345
00:18:58,738 --> 00:18:59,266
I mean, right.
346
00:18:59,266 --> 00:19:03,028
Like he gives so many solutions to this issue.
347
00:19:03,028 --> 00:19:03,748
Yeah.
348
00:19:03,748 --> 00:19:06,399
There's so many creative ways to get things done.
349
00:19:06,399 --> 00:19:07,109
And you're right.
350
00:19:07,109 --> 00:19:12,802
Because what we're seeing now is resale is kind of ticking up a little bit in many markets
around the country.
351
00:19:13,374 --> 00:19:15,165
So we're seeing more price reductions.
352
00:19:15,165 --> 00:19:25,477
We're seeing fewer offers on a house and, it's going to start to get more and more
competitive while we're in this climate of these elevated, prolonged and elevated interest
353
00:19:25,477 --> 00:19:26,397
rates.
354
00:19:26,558 --> 00:19:32,659
other decisions do you think home builders need to be making right now to stay competitive
in this market?
355
00:19:32,659 --> 00:19:33,900
Home builders?
356
00:19:33,900 --> 00:19:34,940
You know what?
357
00:19:34,940 --> 00:19:42,658
We're in a really good, new construction is in a better spot than new construction has
ever been in the history of the segment of building that we're talking about.
358
00:19:42,658 --> 00:19:52,791
There is so much technology that builders can utilize to kind of give buyers the same
experience that they would get buying a resale home.
359
00:19:52,791 --> 00:19:55,802
So you've got this awesome technology for virtual staging.
360
00:19:55,802 --> 00:20:01,123
So buyers can picture what furniture would look like maybe even if a house isn't even
under construction yet.
361
00:20:01,204 --> 00:20:09,634
You've got 3D tours, you've got interactive floor plans, you've got all this goodness that
has really kind of been on a fast track since COVID.
362
00:20:09,634 --> 00:20:12,426
because we couldn't necessarily go into homes during COVID.
363
00:20:12,426 --> 00:20:21,791
so technology took over and we can really, builders can give buyers a sense of what being
in a home is like without ever stepping foot into a home.
364
00:20:21,791 --> 00:20:24,742
And that is something that builders have never been able to do before.
365
00:20:24,742 --> 00:20:30,274
And that's I think why, because as a buyer, we have a hard time picturing what a space is
gonna look like.
366
00:20:30,274 --> 00:20:37,049
I think I read something once that was like, most people can't even get past a paint color
to see what a new paint color would be like.
367
00:20:37,049 --> 00:20:39,404
So think if you're staring at a piece of dirt.
368
00:20:39,404 --> 00:20:40,574
How hard that is.
369
00:20:40,574 --> 00:20:41,616
That's so true.
370
00:20:41,616 --> 00:20:43,397
Yeah, it's so hard to picture it.
371
00:20:43,397 --> 00:20:49,961
And now we've got these tools to really help new construction compete and be a viable
option for so many buyers.
372
00:20:50,122 --> 00:20:52,463
Yeah, and getting better and better every day.
373
00:20:52,563 --> 00:20:53,144
Absolutely.
374
00:20:53,144 --> 00:20:54,244
And cheaper and cheaper.
375
00:20:54,244 --> 00:20:55,545
It's really right.
376
00:20:55,545 --> 00:20:57,187
We've seen the cost come down.
377
00:20:57,187 --> 00:20:58,618
We know consumers want it.
378
00:20:58,618 --> 00:21:02,524
And so at this point, it's kind of like, hey, why are you not?
379
00:21:02,524 --> 00:21:05,532
Why we not doing this on every single listing?
380
00:21:05,532 --> 00:21:06,713
Let's do it.
381
00:21:06,713 --> 00:21:08,106
Yeah, I agree.
382
00:21:08,106 --> 00:21:10,037
So as we're talking about technology, right?
383
00:21:10,037 --> 00:21:14,751
We're talking about how builders can use technology in their marketing and selling
efforts.
384
00:21:14,751 --> 00:21:24,349
But I was also reading something interesting recently that was talking about how buyers
are really focusing on the technology used in homes or right.
385
00:21:24,349 --> 00:21:26,000
They want all the gadgets, right?
386
00:21:26,000 --> 00:21:30,143
Like recently I was looking for a new car and I really wanted to buy the Tesla.
387
00:21:30,143 --> 00:21:32,956
I really did because the technology was just so cool.
388
00:21:32,956 --> 00:21:33,886
I didn't.
389
00:21:34,499 --> 00:21:42,443
But it was so much fun to play with, And so I can see how people would want to use that
type of thing in their home as well.
390
00:21:42,443 --> 00:21:45,825
So what is the data telling us about those types of trends?
391
00:21:45,825 --> 00:21:53,899
Smart home technology is, it's an expectation for buyers that are buying, especially new
construction, because you're building something from the ground up.
392
00:21:53,899 --> 00:21:59,232
You're not trying to retrofit this smart home technology into, I live in a house that was
built in 1905.
393
00:21:59,232 --> 00:22:01,673
So we're really trying to play catch up.
394
00:22:02,538 --> 00:22:05,761
on getting some, we've got an Alexa, there you go.
395
00:22:05,761 --> 00:22:08,983
But buyers, they're keenly focused on this.
396
00:22:08,983 --> 00:22:17,890
And I'm telling you, as our buyer demographics are getting younger and younger, these are
generations that have grown up with technology and they're not really willing to live
397
00:22:17,890 --> 00:22:18,481
without it.
398
00:22:18,481 --> 00:22:26,358
So, now looking at Gen Z, who's gonna be our next buyer, they've never known a world
without Amazon, lucky ducks.
399
00:22:26,358 --> 00:22:32,346
So what they're gonna expect the world in their homes and that's security and lighting.
400
00:22:32,346 --> 00:22:39,450
and our, our smart home assistance and whatever other technology they can get is going to
become an exception, an expectation.
401
00:22:39,450 --> 00:22:47,575
So builders really need to start thinking about how to take advantage of that and start
marketing it and, paying attention to those up and coming buyers.
402
00:22:47,575 --> 00:22:48,486
Yeah, I agree.
403
00:22:48,486 --> 00:22:52,638
I mean, I guess I'm a gen X so I'm okay because I got, I can tell you that Cajun, I got
you beat.
404
00:22:52,638 --> 00:22:54,676
My house is 1812.
405
00:22:54,752 --> 00:22:55,480
cool.
406
00:22:55,480 --> 00:22:56,871
And I don't even have Alexa.
407
00:22:56,871 --> 00:22:58,181
have Sonos.
408
00:23:00,846 --> 00:23:01,846
That is so cool.
409
00:23:01,846 --> 00:23:04,286
mean, it's trade off, right?
410
00:23:04,286 --> 00:23:05,586
get the terribly...
411
00:23:05,586 --> 00:23:07,066
Yeah, have donkeys, right?
412
00:23:07,066 --> 00:23:10,746
So you can either have technology or donkeys, but you can't have both.
413
00:23:12,246 --> 00:23:15,646
I mean, if we have to choose, I'm choosing the donkeys too.
414
00:23:15,846 --> 00:23:16,156
Right.
415
00:23:16,156 --> 00:23:16,326
Yeah.
416
00:23:16,326 --> 00:23:17,135
I mean, let's just have it all.
417
00:23:17,135 --> 00:23:18,686
And the ADU.
418
00:23:18,906 --> 00:23:22,126
We got to do here, I you need to come visit.
419
00:23:22,126 --> 00:23:24,166
We got lots of things to do.
420
00:23:24,166 --> 00:23:26,026
Yeah, I'll be right over.
421
00:23:27,142 --> 00:23:31,585
So, you know, I just love this so much of this conversation is focused on the future.
422
00:23:31,585 --> 00:23:33,806
like you said, home building isn't a great place.
423
00:23:33,806 --> 00:23:37,955
think a lot of times people are looking around right now and going, man, what's going to
happen?
424
00:23:37,955 --> 00:23:38,679
And I'm with you.
425
00:23:38,679 --> 00:23:43,071
Like, I think the future is bright and I think we got a lot to be excited about.
426
00:23:43,071 --> 00:23:49,134
The data tells us, right, that people want homes, they want homes and there may be some
affordability, but they're looking for ways around that.
427
00:23:49,134 --> 00:23:49,388
Right.
428
00:23:49,388 --> 00:23:50,825
And they're very clear on what they want.
429
00:23:50,825 --> 00:23:54,607
Give us our pets, give us our, our smart screens and our technology.
430
00:23:54,607 --> 00:23:55,598
We'll come by your home.
431
00:23:55,598 --> 00:23:58,038
like that's just what we want to do.
432
00:23:58,218 --> 00:24:05,918
We talk a lot about the affordability crisis on this podcast and it's something that the
whole industry obviously takes really, really seriously.
433
00:24:06,278 --> 00:24:18,658
And you and I are involved in the Shebuilt Foundation and the Shebuilt Foundation really
is sort of talking about growing the next generation of people for home building, right?
434
00:24:18,658 --> 00:24:23,694
And how these new mines and how the things that that could do could potentially affect
435
00:24:23,694 --> 00:24:25,394
help with the affordability crisis.
436
00:24:25,394 --> 00:24:26,294
So what are you thinking?
437
00:24:26,294 --> 00:24:30,194
Can you tell the audience a little bit about that and how all that works?
438
00:24:30,194 --> 00:24:30,794
Absolutely.
439
00:24:30,794 --> 00:24:32,014
Thank you for bringing it up.
440
00:24:32,014 --> 00:24:36,574
would love any opportunity to talk about the She Built Foundation and the house that she
built.
441
00:24:38,594 --> 00:24:39,304
I know.
442
00:24:39,304 --> 00:24:40,304
see it in your background.
443
00:24:40,304 --> 00:24:41,754
makes me so happy.
444
00:24:42,094 --> 00:24:45,274
I love you can walk into a room.
445
00:24:45,694 --> 00:24:47,474
I just was at the Denver HBA.
446
00:24:47,474 --> 00:24:51,374
They had an event a couple of weeks ago and I brought 35 books with me.
447
00:24:51,374 --> 00:24:55,993
and just did five minutes on stage about what the book was.
448
00:24:56,014 --> 00:24:58,234
And the energy in the room changed.
449
00:24:58,234 --> 00:24:59,654
It was amazing.
450
00:24:59,654 --> 00:25:00,734
Those books went like that.
451
00:25:00,734 --> 00:25:03,014
I needed 150, not 35.
452
00:25:03,014 --> 00:25:06,174
But people are excited about this.
453
00:25:06,174 --> 00:25:12,664
it's, I learned when I first came over to the new construction side of Zillow, I started
just asking questions.
454
00:25:12,664 --> 00:25:15,954
What's top of mind and what issues are we thinking about?
455
00:25:15,954 --> 00:25:17,734
What's going to be?
456
00:25:17,858 --> 00:25:20,270
what's going to be on our minds for the long term.
457
00:25:20,270 --> 00:25:23,862
And the number one thing by and large was workforce development.
458
00:25:23,903 --> 00:25:29,928
And I learned that the majority of skilled trades workers in this country are nearing
retirement.
459
00:25:29,928 --> 00:25:33,291
The average age of a plumber is something like 57.
460
00:25:33,291 --> 00:25:36,954
The average age of an electrician is something like 59.
461
00:25:36,954 --> 00:25:42,028
And that's pretty scary because supply and demand affects everything, right?
462
00:25:42,028 --> 00:25:47,412
So if you have a lower supply of skilled trades, the ones that are around are going to
start
463
00:25:47,412 --> 00:25:48,392
raising their prices.
464
00:25:48,392 --> 00:25:50,204
That's just how things work.
465
00:25:50,324 --> 00:26:00,331
And so when you met Molly and got introduced to this book that's really aimed at getting
kids, all kids, not just little girls, but all kids interested in the skilled trades,
466
00:26:00,331 --> 00:26:05,515
before those biases start forming, I was like, let me just let me add it.
467
00:26:05,515 --> 00:26:10,158
Let me be involved however I can, because this is addressing the problem.
468
00:26:10,378 --> 00:26:12,460
that we're going to have for a long time.
469
00:26:12,460 --> 00:26:20,005
And four-year universities aren't meant for everybody, but for whatever reason, our
generation got stuck.
470
00:26:20,005 --> 00:26:23,717
We drank the Kool-Aid, and we got stuck on this four-year education.
471
00:26:23,717 --> 00:26:25,579
It's expensive Kool-Aid.
472
00:26:25,579 --> 00:26:27,429
Yes, exactly.
473
00:26:27,630 --> 00:26:36,766
And so we're- Yeah, is a missing, there's a gap in workforce development right now and in
the trades.
474
00:26:36,766 --> 00:26:39,918
And so this book,
475
00:26:40,128 --> 00:26:42,599
is doing wonders to get kids interested.
476
00:26:42,599 --> 00:26:47,582
We have builder partners that will put this book in their sales centers for like in their
little kid play area.
477
00:26:47,582 --> 00:26:49,133
I know it's so cute.
478
00:26:49,133 --> 00:26:50,004
I love it.
479
00:26:50,004 --> 00:26:52,755
Yes, they tell us how well used they are.
480
00:26:52,755 --> 00:26:57,668
They're just like tattered because the kids love it so much.
481
00:26:58,028 --> 00:27:00,299
We did a project with the new construction team at Zillow.
482
00:27:00,299 --> 00:27:01,690
There's about 80 of us.
483
00:27:01,690 --> 00:27:09,014
And I sent every single person on the team a book with the challenge to go to their local
school or library and donate that book.
484
00:27:09,034 --> 00:27:15,378
and document it, put it on LinkedIn so that we can start to spread the message.
485
00:27:15,479 --> 00:27:21,423
And they took that assignment and ran with it just to start getting the message out.
486
00:27:21,423 --> 00:27:32,190
so to watch the She Built book now turn into a nonprofit foundation and kind of get its
web out even further is something, it's a phenomenon.
487
00:27:32,190 --> 00:27:33,110
Yeah.
488
00:27:33,151 --> 00:27:33,771
No, I agree.
489
00:27:33,771 --> 00:27:38,060
mean, my son, you talk about, you know, it's not four years, universities aren't for
everybody.
490
00:27:38,060 --> 00:27:42,573
My son is a freshman in high school and he's already like, listen, it's not for me.
491
00:27:42,573 --> 00:27:44,544
Like he does want to be an electrician.
492
00:27:44,544 --> 00:27:49,076
Like he was rewiring antique sconces when he was eight years old, right?
493
00:27:49,076 --> 00:27:51,537
It's just how his mind works.
494
00:27:51,718 --> 00:27:54,089
So he very much is like, I want to be a trade.
495
00:27:54,089 --> 00:27:56,641
And I was like, buddy, that's a great path for you right now.
496
00:27:56,641 --> 00:27:57,762
So yeah.
497
00:27:57,762 --> 00:28:00,613
And listen, we're a whole family of home building.
498
00:28:00,613 --> 00:28:02,925
we're, my husband's career home building.
499
00:28:02,925 --> 00:28:05,844
My daughter is now involved in the Shebuilt Foundation.
500
00:28:05,844 --> 00:28:12,962
She is running, she is the national captain for the youth ambassador program.
501
00:28:13,063 --> 00:28:15,416
So trying to get the message out to high schoolers, right?
502
00:28:15,416 --> 00:28:20,232
What a great time to catcher them before maybe they drink expensive Kool-Aid, right?
503
00:28:20,232 --> 00:28:22,234
Let's show them that there's an option.
504
00:28:22,495 --> 00:28:23,856
That's right.
505
00:28:23,897 --> 00:28:25,024
can get out of...
506
00:28:25,024 --> 00:28:31,790
out of high school and starts doing something that you're really interested in, something
that you love without the debt of a four year university.
507
00:28:31,790 --> 00:28:35,983
And you can start making money right away in doing something that you love.
508
00:28:35,983 --> 00:28:44,630
And that is, I'm so glad that this has become a viable option again, because it just,
there's that gap that is missing.
509
00:28:44,991 --> 00:28:45,811
I agree.
510
00:28:45,811 --> 00:28:46,732
I agree.
511
00:28:46,732 --> 00:28:51,186
Well, Kajra, I could sit here and talk with you for another hour, but I promised you I
wouldn't.
512
00:28:51,186 --> 00:28:54,356
So thank you so much for spending your time with us.
513
00:28:54,356 --> 00:28:56,187
I really appreciate your insights.
514
00:28:56,187 --> 00:28:59,009
know our audience is going to be thrilled to hear what you have to say.
515
00:28:59,009 --> 00:29:03,473
Thank you so much for taking the time and we'll look forward to connecting again really
soon.
516
00:29:03,473 --> 00:29:04,273
Thanks, Amy.
517
00:29:04,273 --> 00:29:05,964
Appreciate being here.
518
00:29:11,446 --> 00:29:12,177
Again, right?
519
00:29:12,177 --> 00:29:19,533
Another rock star guest that just has some amazing insights for us into what's happening
in the home building industry.
520
00:29:19,533 --> 00:29:21,776
Anything specific that caught your attention?
521
00:29:21,776 --> 00:29:23,117
Pets are people too.
522
00:29:23,117 --> 00:29:24,188
No, I'm just kidding.
523
00:29:24,188 --> 00:29:24,948
That was worse.
524
00:29:24,948 --> 00:29:26,360
That was weird.
525
00:29:26,360 --> 00:29:33,936
favorite takeaways is how easy is it to implement that in the new construction industry?
526
00:29:33,936 --> 00:29:38,006
All you need is a closet under the stairs, which I think everybody has.
527
00:29:38,006 --> 00:29:41,927
and just merchandise it as a really cool pet outcove.
528
00:29:41,927 --> 00:29:44,688
Don't use it for stores for all the home site signs.
529
00:29:44,688 --> 00:29:54,610
Like there's some really cool ways that people could tap into these trends, really cost
effective ways and appeal to a lot of buyers on that emotional level.
530
00:29:54,610 --> 00:29:57,991
And at the end of the day, buying a home is such an emotional process.
531
00:29:57,991 --> 00:30:01,392
Why not do the easy things to make it better for your customers?
532
00:30:01,792 --> 00:30:02,833
It's so true.
533
00:30:02,833 --> 00:30:05,593
And you know how I feel about pets, especially cats.
534
00:30:05,593 --> 00:30:07,064
So I'm all, I'm all for it.
535
00:30:07,064 --> 00:30:07,966
I'm all for it.
536
00:30:07,966 --> 00:30:10,788
I know, I know, I know, but here we are.
537
00:30:11,049 --> 00:30:18,715
so yeah, no, I love the data she brings, always insightful with the strategies that we
should be thinking about the trends that we should be looking forward to.
538
00:30:18,715 --> 00:30:24,700
So continue please to follow Kadra and Zillow for some of the best market information
you're ever going to get.
539
00:30:24,700 --> 00:30:28,414
So everyone, thank you for another episode of Builder 365.
540
00:30:28,414 --> 00:30:32,115
We appreciate you being here and we look forward to seeing you next time.
541
00:30:32,115 --> 00:30:33,046
Bye.
