How Real Estate Agents Read Clients & Build Trust in a Changing Housing Market

Jeanine Corcoran (00:00)
So ⁓ as we spoke earlier, I just feel like I I love the teaching part of the real estate, but I also feel like I have ⁓ I I probably could qualify for having a psychic psychology degree, ⁓ because I read people really well. And I think it’s important in this business to do that. So one is the investor. The investor to me, I’m analytical, is black and white.

Here’s what I need, here’s the money I gotta make. It’s very black and white. I found this property. Here’s the numbers. This is what it would do. Here’s the area. Do you like it or not? You wanna make an offer as a story. This that’s very simple, very black and white. And I I would imagine a lot of people in this world that don’t do not know real estate agents might think that that’s how easy our job is. It’s not. So then you move into someone like a baby boomer, you know, that’s moving

Cody Crabb (02:21)
Welcome back to the Real Estate Pros podcast by Investor Fuel. I’m your host, Cody Crabb and today I’ve got Jeanine Corcoran with me. Jeanine is the broker and owner of Corcoran Connect Realty in Central Florida, and she’s been in real estate for over 20 years. We’re going to talk about what she’s seeing in the market, working with buyers, sellers, and investors and the human side of guiding people through a massive life decision. Jeanine, thanks so much for being here. I really appreciate it. ⁓

Jeanine Corcoran (02:44)
Thanks, Cody, for having me.

Cody Crabb (02:46)
so for people that don’t know you yet, give us the quick version. ⁓ what’s Corcoran Connect Realty and where are you kind of spending your time in the business right now?

Jeanine Corcoran (02:54)
Okay, so Corcoran Connect, I started in 2011. I was in business six years prior to that. 2011 went through a horrible life change divorce. Was ⁓ single mom raising my my last child in the house and decided, you know what, I need to make more money. I really did not know what I was doing, so it kind of grew organically. And from there, we’re over 26 agents. We’re still po boutique, but I like it that.

I like it that way. I’d rather have ⁓ s a smaller office with strong agents than to have you know, f five hundred agents that half of them probably more than half are not doing anything. So So yeah, it’s been a fun ride and I really enjoy it.

Cody Crabb (03:34)
Yeah, love that. ⁓ you’ve said something you said something b ⁓ before we started that I liked. ⁓ different clients kind of need different versions of you. ⁓ which I I find that really interesting. So you know, there’s there’s being a chameleon, right? Be kind of changing your personality for people, but there’s also kind of being able to read people and understand what they need. So how do you read that? Well, I’d also love to know again what are the different versions of you that you see, you know, the investor version, the first time buyer version.

But ⁓ how do you kind of read those and adjust accordingly?

Jeanine Corcoran (04:09)
So ⁓ as we spoke earlier, I just feel like I I love the teaching part of the real estate, but I also feel like I have ⁓ I I probably could qualify for having a psychic psychology degree, ⁓ because I read people really well. And I think it’s important in this business to do that. So one is the investor. The investor to me, I’m analytical, is black and white.

Here’s what I need, here’s the money I gotta make. It’s very black and white. I found this property. Here’s the numbers. This is what it would do. Here’s the area. Do you like it or not? You wanna make an offer as a story. This that’s very simple, very black and white. And I I would imagine a lot of people in this world that don’t do not know real estate agents might think that that’s how easy our job is. It’s not. So then you move into someone like a baby boomer, you know, that’s moving

You know, from out of state that we get a lot of baby boomers here, that’s totally different. They want to know the hospitals and things like that.

Cody Crabb (05:04)
Yeah,

well and I’m also thinking of my mom who hasn’t moved in twenty five years and bought her house for like three hundred thousand dollars in nineteen ninety eight. Like she’s she her her mindset is not the same as someone from

Jeanine Corcoran (05:15)
Or even moving it moving someone of of the older side out of their home is a is a big deal. I just had one this past week that he literally his wife was you know sick and she went ahead of him and and he was loading a pod by himself in his 70s and I went over and he didn’t want to take his furniture and I literally had to say, Listen, just go, just just close the door and leave. But again, you know, that’s that type of person. Then you have the first time homebuyer who is always afraid to ask questions.

And I have to have a very down to earth talk with them and let them know, listen, I wake up, I eat and breathe real estate all the time. I’ve been doing this for a long time. I I tend to talk, I can talk fast. I said, so I want you to know, please, please ask the questions there. All right. And there are no stupid questions because I’ve had that that stupid question, you know, told to me, I don’t know, over the years a hundred times where they say, ⁓ you know, I have a question. It’s probably a stupid question. I’m like,

Cody Crabb (05:59)
Slow me down if you need to, yeah.

Jeanine Corcoran (06:14)
No, there are no stupid questions. You know, we’ll slow down and the more they ask, then I know, they don’t know about this. Let me you know because sometimes first time home buyers have done a lot of research and they might might have learned online and they think they know a lot. So they might be able to move a little faster, but I still like them to a ⁓ ask the question because then I

Cody Crabb (06:33)
teacher

one time that had ⁓ a poster that said the only stupid question is the one you didn’t ask. Because I I’ve always that I’ve that has really stuck with me because I feel like i if you don’t know something there that can’t be a stupid question because you’re trying to learn something. So I love that mindset for sure. Yeah.

Jeanine Corcoran (06:39)
Thank you.

No. So that’s all different. That’s all I spend all day going, you know, ⁓ okay, you know, we I gotta you know, take a breath, listen to what they’re saying, come to wherever they’re at and it’s yeah, it’s all day like that. And I think that’s maybe the roller coaster, and not a bad roller coaster, just the ride that I like is yeah, just have so many personalities come in front of me between agents, between, you know, title companies, between buyers, between sellers, between investors and and a truth truth

be known investors are probably the easiest to work with because there’s no emotion. It’s all about numbers. They want the numbers, yeah. That’s it. Yeah, so they’re easy.

Cody Crabb (08:17)
Well, so do you think agents are kind of trained on that at all? Or is that just kind of something you pick up over time?

Jeanine Corcoran (08:24)
I don’t I think agents are getting way more training and way more other things that they’re not trained that part. I really don’t think and I could say that because of the amount of agents that I have that when I listen to their stories, I’m still amazed and I’ll just have to, you know, say, Okay, well in this type of situation, this is what you should do, you know.

So yeah, I don’t I don’t think they’re trained on that. I don’t. I think there are for the fifty five and the older group, the the elderly, we actually have classes called SRES Senior Real Estate Services that train you how to act towards the you know, the elderly. Isn’t that terrible elderly elderly, fifty five and elder?

Cody Crabb (09:06)
Yeah. I yeah. It’s what yeah we should have a way cooler name for sure. We should probably think of a way better name, yeah. ⁓ yeah. ⁓

Jeanine Corcoran (09:17)
Baby

W Bab Baby Boomers, that’s a good name. That’s

Cody Crabb (09:19)
Yeah,

sure. Although I know a lot of people that kinda hate that one too. So we’ll we’ll keep workshopping it. ⁓ yeah, so I imagine ⁓ the the trust is a huge part of of this as well. I mean probab probably the part, honestly. ⁓ so I’d be curious, like how do you how do you view building that trust ⁓ with someone that you just met, really?

Jeanine Corcoran (09:42)
I think asking a lot of questions, you know, just constantly, constantly asking a lot of questions. The more questions you ask, you get to know them. And again, that’s that whole psychology thing. And and when I say that, I don’t mean in like I’m tricking someone because I’m not just learning, you know, what their needs are and how I can help them and how I can fill it. Because th there are times where, you know, I had one the other day, I was talking with sellers and I felt really bad because I really, really like the people, but I knew who can

sell his house with me because the amount of money he owed he didn’t want to do a short sale, you know, so it was hard for me because I like the people. I was like, okay, stop. You know, just because you like them, you’re not gonna take on a project that you know you can’t commit and finish. So ⁓ but yeah just asking a lot of questions definit definitely gains gains their trust.

Cody Crabb (10:30)
I think that’s that’s huge for sure. Yeah. Get into getting to know that someone someone believing that you actually care about them, I think is really the whole point. I mean, I I always talk about sales. Like if I’m going to Best Buy, the guy that’s talking to me about the super high tech high end washing machine, I’m like, you know I don’t need that. Like I I can see this coming a mile away. But someone that I that’s like, you don’t really need that one. I mean, really it sounds like you just need this kind of middle ground one that’s

And

they hear they’re actually listening to what I’m saying, that’s it instantly builds tons of trust. Yeah.

Jeanine Corcoran (11:02)
Absolutely. Absolutely.

Cody Crabb (11:03)
So how do you teach that to your agents?

Jeanine Corcoran (11:39)
I don’t know. Now that you’re saying that, I bet it you should do it. I don’t I you know that’s that’s a really tough one. I mean it it’s tough to ⁓ we do we do a lot of talking in our groups on Zoom because we have the multiple offices or talking in our WhatsApp group. and and we have experienced agents and not so experienced agents and I don’t know. I I think, you know, ⁓ naturally some people have it. Like I know naturally I have it.

Cody Crabb (11:42)
Yeah. ⁓

Jeanine Corcoran (12:09)
But it’s for agents who don’t have it, it’s just gonna take them time because they don’t learn. And and I and I learn with them through their mistakes. Yeah. I’m there for the questions and I’m helping them, you know. And I I have this one famous thing and that I love to say to my agents is they come to me with a problem, the first thing I say is, Well, what do you think is the solution? So you know, and question with the question because I want to hear what they have to say because most of the time, truthfully, they know the answer, they just don’t have the confidence.

Cody Crabb (12:38)
Right. It is confidence, yeah. Cause it’s if you’re if you’re like, is it n this? And then if you say yes it is, then they’re like, yeah, then it’s yeah, it’s that.

Jeanine Corcoran (12:46)
Right. That’s usually why I say I’ll say I I I would do the same exact thing. I was paying answer. But I always I always make them answer ’cause I want them to think for themselves. Yeah.

Cody Crabb (12:54)
I love that. ⁓

so pivoting a little bit, you’re in Central Florida. That is a market that I hear about a lot on this podcast. People are talking about ⁓ you know, different strategies there and and things from the outside. But I’d love to hear from from ⁓ from you specifically on the ground right now. ⁓ what are you seeing right now? ⁓ especially for people that might not understand coming from an outside perspective.

Jeanine Corcoran (13:18)
You know, it’s interesting. I’m I just had buyers come from New York and it was interesting to to to work with them and hear their market versus our mark market, which is so different. well right now we are in a buyer’s market. We have a lot of new construction. New construction is wonderful, but it hurts our resale market because of the builders are giving they can buy down the rate and give a four point nine or three point nine nine. someone the other day said, the builder gave thirty thousand.

I mean, how does a resale person that’s in the same market compete with that? It’s extremely hard. So either they have to drastically lower the price on their house or they have to offer what the builders offer, which you know, they can, but they can’t offer the rate and the closing cost. they can offer one or the other. So so we have to get very created. Now to that point, there are houses that stand out that don’t

compete with the builders like the person who has a pool. Pool homes right now are seem to be a hot commodity commodity. My last pool home I have multiple offers. I don’t get that on any of my houses.

Cody Crabb (14:24)
Interesting. What do you think’s behind that exactly?

Jeanine Corcoran (14:26)
Because that’s the one thing you don’t generally get with a builder unless you’re building from the bottom, you know, starting from the bottom and building. So when builders build, they build what we call spec homes. They build them, they build them, they build them, and they say, you can get us home here and we’ll offer you this, this, and this. They’re already built. That’s what competes with our regular sale all the time. But now if you have a you know, someone comes down and they’re like, I’m moving to Florida, I want a pool home. Well now you have limited, you know, inventory.

Cody Crabb (14:52)
Or you have to put one in for this great massive column.

Jeanine Corcoran (14:55)
And

putting it in is a lot more expensive than buying one resale. Appraises the value of the appraises are given the pool isn’t a lot, but when someone’s putting in a new pool, they’re looking at sixty to a hundred thousand on a pool. That’s that’s ridiculous. Yeah, that’s banana. But you’re not gonna pay that for the same house that has a pool, you’re not gonna pay over a hundred thousand. You might pay thirty thousand more. So it’s definitely value in buying a resale pool home. So

Cody Crabb (14:59)
Yeah.

Jeanine Corcoran (15:20)
it yeah, it just depends on the market. It’s just it’s it’s a crazy, crazy market. It’s been it’s been quite challenging. Quite challenging for resale people for sure. But a lot of good deals to be had out there for investors.

Cody Crabb (16:13)
Yeah. Yeah. So so what what y what I’m hearing is, you know, you’re they’re not just competing with the house down the street, for a seller in this market. They’re competing with a builder that can throw all this money at rates and yeah. So how do you how do you coach through that? How do you deal with that without just being like, drop the price? Like there has to be other like what are some strategies to kind of

Jeanine Corcoran (16:35)
⁓

yeah. No no absolutely. First of all, I mean any any agent that’s meeting with a a seller has to be realistic because for a while, the past six months to a year, we had sellers that weren’t realistic about the market. And now, you know, they’ve been seeing it longer and longer and longer, you know. And so now you just have to have that conversation first. You have to be at an aggressive price. Doesn’t mean you have to be at a, you know, I’m throwing my house away p type of price or or giving it to, you know, one of those cash buy now type things. Yeah.

You have to be aggressive and and your house if it’s older, it competes with the new bills again. So they want the everything, you know, updated. You know, I mean nicer floras, painting. You know, we’re back to the time of, you know, walk through your house and make it like a model home. Yeah. You didn’t have to, you know, it’s like, no, you’re you’re okay. You got this, you got that, and not anymore. Now it’s like, ooh, like, you know, we gotta get the painter in here or we get you know, so

I I’m trying to prep a lot of s when I talk on our podcast, I try to get a lot of sellers to hey, if you’re living in your home, you’re not thinking about selling, but your home is older, start making those renovations now. You know, because these new c the new construction isn’t going away. I mean, they’re popping up all over the place. And there’s still a lot of land left in Florida. So they’re going to be here for a long time and that’s what we’re competing with. So people who have

You know, houses in the nineties and the early two thousands, even in two thousand fifteen, they all have to get brought up to speed with all the new construction. So if you’re not planning on selling, go ahead and get it done now so that it doesn’t hurt as much when I come to your house and tell you, like you gotta paint everything, you have to change your floors, you have to you know

Cody Crabb (18:14)
Yeah, yeah. Start start the process now. Yeah.

Jeanine Corcoran (18:17)
And then always always be open to giving benefits, meaning giving closing concessions or things like that. You the you know, you could advertise it one or the other, you know, towards your closing course or to buy down your rate. But yeah, yeah, the no more no more. I n the last gentleman I had was can we just put on the market and see? No. Yeah, no.

Cody Crabb (18:37)
You can see, but I I’m telling you what you’re gonna get. Yeah. Yeah. Yeah. yeah, that’s that I think it’s it’s so buyers actually have options. So I mean that’s that actually is that that’s actually interesting for investors, certainly. Yeah. So are you seeing people on the buyer side getting good opportunities or are rates still kinda scary for

Jeanine Corcoran (18:54)
No, the the the rates the rates are still hovering around six, six a little over, depending on if they buy down the rate you can get under. But ⁓ you know, they they’re high. ⁓ and there are opportunities and and every house I list I get probably six offers from investors.

Cody Crabb (19:10)
See now that’s interesting. There’s something behind that for sure.

Jeanine Corcoran (19:13)
They’re low. They’re throwing out there. They’re they’re low. But every now and then someone’s like, you know what? ⁓ okay. You know, I’ll I’ll take it. You know what I mean? I’ll just get out get out of here. You know.

Cody Crabb (19:26)
Yeah,

really. Yeah. Sometimes that’s just it’s just down to the the how quick they can make it work. So ⁓ well this is this has been interesting so far. Thanks for diving in with me so much. just a couple of questions as we’re as we’re winding down here. So ⁓ what what do you see ⁓ you know, what’s happening next for you? What are you excited about in the in the market, in your business or kind of something coming up in in the in the industry?

Jeanine Corcoran (19:48)
Well, ⁓ I’m excited if when the rates start coming back down. We always like to w watch the the oil prices. The rates kind of seem to go with the oil prices. so I’m excited for that. ⁓ interesting enough, I worked with a couple of first time homebuyers and and I did a a little interview with them and and asked them about the interest rates and and their response was very funny. They looked at me and they said

Cody Crabb (19:59)
Yeah, yeah.

Jeanine Corcoran (20:15)
Like I said, what do you think about today’s interest rates? You close on your loan, dah dah, and they said, ⁓ I don’t I don’t have any idea because their first time. You know, they

Cody Crabb (20:23)
Yeah,

interesting. When you look at it that way. Yeah.

Jeanine Corcoran (20:26)
If they said it was what I guess like a car. What can I afford? What can I afford? You know what I mean? Yeah. They could afford. So that was quite interesting. I don’t know why my Mac keeps doing my phone ho which is out there it’s dinging. So sorry about that. you can’t? Okay, good, good. but looking forward to I I I’ve been doing a little bit of the teaching side for agents because again, I’ve come from real estate since two thousand five. I worked my way up, I’ve been through the trenches, I

Cody Crabb (20:39)
No, you’re good. I can’t I can’t even hear it on my end.

Jeanine Corcoran (20:54)
done the the deals and I just I have so much to offer offer agents, you know, if they want to listen. That’s that’s the bottom line, you know what I mean? So that that’s one of my side gigs that I love love doing. And I love doing it by agents. I do love teaching. I do love teaching part. So I love the people. I love people. Agents, people, you know, selling

Cody Crabb (21:11)
You know that.

So

⁓ there there are definitely people listening to this that are like, you’re the first human being that I’ve actually heard ⁓ that’s actually like you know, it’s your actual person, not just kind of like a sales robot. Like it sounds like you actually can tell what people want and and things like that. ⁓ if people want to get in touch with you ⁓ and work with you in in any capacity, you know, who should be getting in touch with you and how can they do that?

Jeanine Corcoran (21:38)
Well, ⁓ so they can either go any of the social media platforms or @corcornconnect, or you can do @jeaninecorcoran. Either one will get you the same place. website, corcoranconnect.com My cell is (407) 922-3308 I mean you pretty much type in Jeanine Corcoran and it’ll it’ll come up anywhere.

Cody Crabb (21:58)
Awesome.

No, gotta love a good phone number on here. ⁓ really appreciate the all the time you’ve given us today. ⁓ it’s it’s been really useful for our listeners. I I really appreciate that. ⁓ and for everybody listening, if you got value from this, make sure you’re subscribed. ⁓ and we’ll see you on the next episode. Jeanine, thank you so much for for giving us some time today. It’s been a real pleasure.

Jeanine Corcoran (22:17)
No, thank you for having me so much, Cody

Cody Crabb (22:19)
Of course. Have a good one.