Guru Chris Price with Indy's Property Source

Rick Ripma: 0:00

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Ian Arnold: 0:13

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Rick Ripma: 0:27

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Ian Arnold: 0:33

Now get ready to unlock the doors of success. One episode at a time. A thank you for joining us today. And I have Chris price here with us and Chris. year are with with what is it property? Indie property source?

Chris Price: 0:53

That is correct. The end property source as a team within Keller Williams Realty.

Ian Arnold: 0:58

Okay. And how long have you been with them?

Chris Price: 1:01

Well, I founded it. I've been in real estate. 20 years is actually my 20th year. So I've been with Keller Williams since Oh, six. So about 17. Yeah, that's awesome.

Ian Arnold: 1:09

All right. So before we get into more of the, what did you mean? How the business is? Let's get into what do you do before? Where did you grow up? Where do you go to school? Did you have any jobs before you got in real estate?

Chris Price: 1:21

Yeah, no, that's cool. So I grew up on the south side of Indianapolis, went to school down there. I was a, we went to roncalli. And then I went to University of Indianapolis, so it was all around the South Side. And and my first house was all down there. And so that's where I grew up. That's where I'm from. Oddly enough, I did not have any jobs, any real jobs, other than real estate, coming out of college, kind of the path that I've that I ended up in so

Ian Arnold: 1:56

So what made you choose real estate? Was it was the family members doing it? Or?

Chris Price: 2:03

Well, also a good question. So I was an economics major. And this was in oh three. So the job market was a it was a little weird. And I'd gotten so far with a couple of really big corporations. And they, they had hiring freezes. So I had interned a couple times in like a corporate setting and office job and aspects of it that I liked, but didn't really feel like a fit. So at that same time I had, my uncle had given me a book to read called Rich Dad, Poor Dad. And I loved it. So I had really kind of sparked my interest in investing in real estate. And so, you know, kind of fast forward back to the job hunt, I was, you know, I was looking for the career path. And it kind of defaulted into real estate. I started out at a smaller property management company, and ended up getting licensed there and just kind of evolved over time.

Ian Arnold: 3:08

It's interesting, most people don't start right away right out of college, it's usually they do a couple jobs before and then jump into it. So now you started in about oh six. And I know oh eight is usually where it took his downfall. So how did you one, get ready? I mean, you don't get ready for something like that. But how did you start up and then keep going, because that'd be a rough time.

Chris Price: 3:36

Well, it was certainly a rough time in general, for most people in the market, so getting into it, no three, I had maybe a five year lead up till then. And in that time had had just gained a ton of experience in certainly working with home buyers and sellers, you know, the traditional type clients, but also working with corporate clients. And I think that's really what helped me prepare me for that. Being able to price a home and a changing market, being able to work with investment institutions. And so going into oh eight I had an office, I had a team that we were starting to build around me. And in all of us together, we're really in a good spot going into that downturn to where it wasn't something that we were hoping for, but we were prepared for it. So when that came we were able to really capitalize on just different opportunities in real estate.

Ian Arnold: 4:39

So I understand that with even with us and with you or with realtors it's a the market changes dramatically. So how do you how do you have to try to plan for that? So for instance, you had the oh eight incidents and then let's be honest and what COVID What 2021 2020 It was You put a house for sale and is gone in an hour? So how do you work on change or work on how to adjust to the market?

Chris Price: 5:10

Those are good questions, I think you always have to be kind of a student of the game. So I was an athlete growing up, you know, really involved in sports and have coached and I know that you always have to be learning. And, you know, coming from my background in, you know, in finance and economics, it really just being able to love to learn and to study allows you to be able to anticipate, so while I don't have a crystal ball, like most people don't like when just being I guess the the answer to that would be that I really tried to study the markets and try to study what's going on here locally, so that I can help our business but also our clients to know what you know, is just over the horizon or whatnot. So

Ian Arnold: 5:57

yeah, and I like how you said, our markets, because you can listen to the news, and they're talking about California, and they're talking around the East and the West Coast, in the market is completely different. It is yeah. So where do you where's your main area where you service?

Chris Price: 6:16

Well, so our business, because we have some of those corporate clients still today, the they really do stretches in coverage. So we're all over Central Indiana, and we're part of three different MLS systems. And we have agents and team members that kind of cover different parts within central Indiana. So I live on the west side, I'm from the south side, I've got a big sphere in both those areas. And I really know the downtown market pretty well. But our team, we ended up being all over so

Ian Arnold: 6:53

especially when you get a team, it's it's interesting that you might be like, alright, I don't wanna go too far. But you have to go some distance and great thing Indianapolis is you can travel anywhere 3030 minutes to an hour, you can be anywhere, right? But especially when you start getting teams and one lives here, one lives over here. One lives on north side, east side, whatever, it makes it a lot easier. Yeah. So you mentioned your team. So talk to us about your team. Sure.

Chris Price: 7:18

Yeah, no, I, I don't know that. I got into the business. Well, I kind of described how I got into the business almost by accident. But it was pursuing investing for myself. And as I had some success, and what ended up helping a lot of clients, the business just kind of we built the business as a way to just part of our natural path of growth. And so I didn't necessarily go with the intent of maybe building a team, but I knew that we needed in order to grow in order to help our clients out in a more effective way. We needed to have a team around us so. So over the years, it's evolved, we've had different positions and different things like that. But essentially, we have an operations group and a sales group. So the people doing the unlap licensed activities that support the sales group that's doing the servicing of our clients to buy, sell, invest and build. So

Ian Arnold: 8:22

So I did hear that your wife works with you. You did, yes. Yeah. So does she like to she's bossing around a lot there.

Chris Price: 8:31

She does, yes. She knows she's awesome. We we've been fortunate to have been in business before. And then she took some time off to raise our daughter, and coming back into real estate. She's got a mortgage background. She's worked in transaction coordination and things like that. So it really helps to have a spouse but also a partner like that. That's on the same wavelength, I guess. And so now it's been really good.

Ian Arnold: 9:01

It makes a huge difference. Because I will tell you this right now. I've been in sales my whole entire life. And then my wife is an accountant. So besides a certain times a year, she basically works a nine to five jobs. Sure, she doesn't realize I get a phone call on Saturday, Hey, I gotta I gotta go for a little bit or something like that. I gotta go sit on the computer. She's not used to that. It's nice that your wife understands that and be like, hey, like, I gotta step out for a little bit.

Chris Price: 9:28

Yeah. So at our company, they talk about the the the work life balance, but it's almost like a counterbalance to where if you swing too far in one direction that just know that you got to make an adjustment to help make up for it. So those Saturdays or Sundays where I'm maybe working with a client, I just have to, you know, or just know that I need to make up that time. So yeah,

Ian Arnold: 9:53

yes, I did that when I was in the car industry. We had work every Saturdays. So yeah, then on the In the middle of the week, I'd be like, alright, so Wednesdays, that's when everything's gonna get done. And it's nice. I'll tell you right now you gotta go grocery shop and go to the middle of the week. Is there a good tip? So, how did you? How did you set up a work life balance, because I know that's hard, especially for newer people.

Chris Price: 10:20

It is. And I will say it's an ongoing feat, because things are always changing, you just new market environment, especially like you mentioned during COVID, where things were so fast paced, you really just had to, had to just be able to adapt to it. So I think it comes down to time management. I mean, just being able to block time, so it sounds silly, but I will time block in order to time block. So I set aside time to plan for my week to plan for my days. And within that I know that okay, soccer, or gymnastics, or whatever is during this time that I'm just going to build, you know, my week around that. So,

Ian Arnold: 11:06

you know, time blocking is vital in our industry, because we can get we could, Alright, I got a call these five people was injured, call that one person, something else, you might get a message hey, go do this. Or wait, why haven't those other four people? Yeah, yeah, we do. The same thing here is between nine and 11. We make our phone calls. We basically turn off everything else and just make our phone calls. Because if not anything, and everything will get in that way. Yeah. So I want somebody to be on your time block. So what is the best way somebody can contact you?

Chris Price: 11:39

Yeah, well, as you know, in sales, the doors always open. But it's very similar to what you're saying, we try to get our follow up and our conversations go on in the mornings, so that if we had to leave a message or something, they could call us back in the afternoon. But that's, you know, that's a good time. I mean, if there is a good time, but we usually try to stay pretty accessible, you know, and just try to get back with people if we miss them. So and what number were they reach you at? So a good number would be 317-225-5507. So 317225557 direct business number for me.

Ian Arnold: 12:21

Awesome. And if you want to get a hold of Rick or I go to HardWorkingMortgageGuys.com. That is HardWorkingMortgageGuys.com, or you can call us at 317-672-1938. And I did forget to mention earlier, Rick is not feeling well. So you gotta you're stuck with me. All right. I'm great. I'm doing something right. I want to I just want a gold star. There

Chris Price: 12:42

you go. I'll give it to you. All right, Chris.

Ian Arnold: 12:44

So here's a good question. I want people to get to know you a little bit more. So if I got to take away your phone, you cannot work. So we're time block and 24 hours off? What do we catch you doing for fun?

Chris Price: 12:55

Yeah, I do like to spend time with my family. That's important to me, we would like to try to new new experiential type things. So I always like maybe visiting a place here locally, that's a little bit different. or new, getting outside. So whether that's maybe fishing or you know, just doing stuff out in our yard. I like doing that we've got a garden at home. That's been something that we've kind of picked up on. So as much time as we can get away from screens and and get breed some of that outdoor air. That's what I like to do. So

Ian Arnold: 13:35

I will agree. So, Mike, how old are roughly Are you get?

Chris Price: 13:41

So we've got some older kids that are in their 20s then we have a

Ian Arnold: 13:44

nine year old. So So I have a six and eight year old. The one thing I like is both of them got into planting little seeds. And I did it just to goofing around. I was cutting up a pepper, took all the seeds and toss into my wife's plants. Then Mike, one of my kids come up and they're like watching. What is that? Oh, I've got walks over he goes. Yeah, what is that? I go toss some pepper seeds in there. Yeah. So they got in the curiosity. So it's kind of nice for them to vent now. They'll just grab seeds, and we'll plant them and they get to watch from the start and watch it and then bear fruit. Now this year hasn't been very good. But it's been better in the past year. So yeah, I think that's one thing valuable for kids should see one the hard work. And two. Where does your food actually come from? Yeah. So. So what do you got you because you grow. So how

Chris Price: 14:33

do we grow we we have these like cherry tomato type plants that are just monstrous. They probably are over six feet tall now. So we've got a ton of tomatoes. We've got jalapeno peppers, green peppers. We did broccoli, broccolini and sunflowers and some stuff like Oh, rhubarb, too, was a fixture for us.

Ian Arnold: 14:58

So if you need vegetables, just go to your house. Right. Yeah, sure, yeah. Got extra. Now I will say we did pickles one time. zucchinis. And we made pickles. And I didn't know what one it would be that easy. I thought it'd be a little bit more of a process. But it was actually kind of nice because he can flavor it the way you want. And I was actually quite impressed. Yeah. So let's get back on to the real estate Sure. You on the side. So what do you what would you consider your superpower?

Chris Price: 15:27

superpower? Well, I don't know that I have any superpower over anyone else. But I guess if I were to put something down, I would say it's resilience. So if you've been in business for a certain amount of time, you will go through different things. And the failure rate on small businesses is pretty high that anybody could look up so I think just being able to you know, set some things aside, put in a sacrifice, the buzz all the buzzwords, you know, grit and all that kind of stuff. But it really is because you to go through a, you know, a tough period or a tough decision. And, and have the patience and to check your emotions maybe to do it. I think that's probably what I would say my superhero is my superhero.

Ian Arnold: 16:27

I don't know, I don't know if I've heard the superhero as resilience. Yeah. I do have to agree with you. Because what is it? It's like if I first five years most small but 70% of businesses fail? Well, even in real estate, it's even worse, which It shocked me that it was and, and three years 90% of Realtors fail in the first three years. I when I heard that stat. I was I was like, Did I read that correctly? Yeah. So resilience has to be in there for you. So I think as a huge superpower. Yeah. So what do you think has made you so resilient? And a fighter?

Chris Price: 17:08

Yeah, no, I, those are, that's good to think about? Well, you know, I follow Jesus. So for me, that is where I lean on, you know, for a lot of that power. And my upbringing, really facilitated that. And I would, my parents just taught me to work hard, work hard through sports, and get good grades. So like that, that, that, that balance, that work, life balance thing I learned at a very young age. So just being able to juggle a lot of different responsibilities. And, you know, I saw my parents work really hard. My grandparents had a grocery store that they had, you know, remained independent. And it just I saw them work really hard at it. And so probably a lot of good examples in my life that are I've seen that.

Ian Arnold: 18:08

I fully agree with that, just because we try to do that with our kids too. And I'm glad that even like on a Saturday or whatnot, if I get a phone call, I need a pre approval. My kids see me go work. They also see the fun dad, but they understand like, during the summer, they would come into the office with me, and I'm doing my calls. And my son's looking at me, Dad, you're doing a lot of calls like, this is part of the job. So but they get to see that work ethic. That's good. So I fully agree with you. I mean, I think kids need to see they don't they don't just need to see fun and fun and entertaining mom and dad. So

Chris Price: 18:42

yeah, yeah, that's good.

Ian Arnold: 18:44

So how would you describe your brand,

Chris Price: 18:48

or brand. So the any property source, that's our team, it's a website and all the social media channels, we're out there, but we really want to be a platform that people can grow their real estate careers in. And we've been in business a long time, I will say that we we do end up working on a lot of complex things. So in residential real estate, you know, you've got traditional buyers and sellers, which is our bread and butter, just like most anyone else. But we also we can really help out in tough to sell properties that are either in really bad condition, or just very unique. So where I'm going with that, I guess is that we've we've been problem solvers since day one we've always been. We don't come with a custom. Or we don't come with a cookie cutter solution. It's more of a customized approach to real estate.

Ian Arnold: 19:46

So those houses that need work. I mean, so what do you guys do you guys just sell them to an investor or do you guys try to fix them up yourself? Or what do you guys do?

Chris Price: 19:57

Well, all of the above So we, I guess, whatever was gonna make no sense to the client. So we may have our ideas, but we'll wait, we'll set the table for him give him options. You know, here's, here's an as is what it looks like. Maybe that looks like us buying it from him and fixing it up, but only if that's the best solution for him. Maybe it's some minor cleanup, or small repairs, or maybe it's maybe it's larger repairs or staging. And oftentimes, it really just comes down to the property. But we've done all all sorts of different strategies. So I think that's maybe what sets us apart.

Ian Arnold: 20:35

Yeah. I mean, yeah, it's always interesting. And I watch it in my neighborhood. And I'm like, I look at a house and I'm like, they put pictures and I was like, Oh, I don't think that house is gonna sell too. Well, it looks like it went to an investor. So it's just one of those things is interesting to see the different avenues each house can go into. Because, one, you never know the situation. And for instance, we've had some, I mean, you got people that are getting rid of their home, because they gotta go to special needs home, or you got some people that need to sell it because a aganst got another kid. We don't have enough bedrooms. Yeah, so every situation is different. Yeah. So but it's awesome that you are able to give multiple different options. Hey, if you're in this type, I can help you, you're in this type, I can help you. So

Chris Price: 21:24

that's what consumers want, like in like, not just in real estate, but especially in right now in real estate, they want to have options and choices. So yeah, not to cut you off there.

Ian Arnold: 21:32

No, no, you're super important. Yeah. So when you run into an obstacle, how do you go to get through the roadblocks?

Chris Price: 21:43

Well, I like to say that I lean on experience. But I will also say that I have not been in every situation, something new comes up seemingly every week. So you know, I just I try to go and seek advice from other people that have had experience or that I trust, you know, or, you know, research it and find an answer out. But you know, being a problem solver is so much a part of what we do that, you know, a really, really take that as a, as a really important part of our job is to go out and not allow a traditional roadblock to, you know, stop a client from being able to sell their home or to buy. I mean, we really just tried to go the extra mile.

Ian Arnold: 22:36

I think one thing also that you have when working with your company, slash Keller Williams is you have resources, they're just saying how many people if you go, Hey, look, I have this question. You may have a you've been through it, you probably have countless people shoot you an email back. Yeah, this is how we handled it. So I think having those team members, either on your team or part of the Keller Williams group, is phenomenal.

Chris Price: 23:02

Yeah, I mean, it really is, you know, for an example. You know, let's say there's somebody that needs to build a home, and, but they want to, they want to sell their home upfront, and maybe you lease it back for six months, we actually have an option for that. Whereas a lot of times, they just think that's not an option. Or, you know, or just to sell their home to get the equity out and then just lease back for a little bit until they find out if their job is going to relocate. Those are some of those non traditional options that we seek to provide. So

Ian Arnold: 23:37

that's it. That is huge, especially in today's market. Yeah. Because especially with the contingency offers, and like a lot of people don't, oh, I need to sell my home. Oh, wait, this home is selling in three, four days, I gotta hurry up, jump on that one. But I gotta sell mine first. So that's actually a really great option. Yeah. Is that what you guys do? Or is it Keller Williams or

Chris Price: 23:58

both, but we've got some programs that people will fit into, we've certainly adopted them at our team. And, and so things like that, or, you know, hey, I've got credit that's maybe dinged up a little bit. And, you know, let's come up with a plan to get you maybe maybe you're not going to buy right now. But, you know, 12 months from now.

Ian Arnold: 24:18

Yeah, especially when you're talking about that first time homebuyers who were trying to build their credit up. And that's we do a lot of that we're part in in housing and all that. So it's, when you had that first conversation, some people are thinking, Oh, we are four or five years away. I'm like, some people might be, but I would say the vast majority between six months to a year, we can easily get you pre approved. Now, again, you might be in a starter home, and that's okay. Because then you gain equity. But it's interesting and I like how you said right, about 12 months we can do it because that is about right. Yeah. Whether it's building credit, downpayment or whatever. But that's phenomenal. So some He's wanting to get in contact with you to either buy, sell or just talk real estate. How are they in touch with you?

Chris Price: 25:05

Yeah, phones. Great. I dropped the phone number earlier. But we're also the end property source dot coms or website. You can find us under that name on Facebook, Instagram, YouTube, Twitter, all the social media channels, hopefully that you can find this on but but really, wherever you you find us, we usually try to be pretty responsive on.

Ian Arnold: 25:33

All right. So now we usually get into the question of the week. So the question of the week, though, is, I want to I'm kind of curious. But what was your first car?

Chris Price: 25:42

My first car? Yeah, that's a good one. I got was fortunate enough for my grand mother. She gave me a Chrysler New Yorker. I think it was a gift. You took it as a gift it was. Now people. At first look at it. They might say that's a pink car. And I call it mauve. Because that's what that was better. And so it was actually really cool. Because it was it was dated at the time I got it, but it was in good shape in the car talked. So when you open the door, it would say kind of like in a Knight Rider voice it would say your door is ajar, you know type of thing. So that was always good conversation starter.

Ian Arnold: 26:31

Those are good. sensor goes out. Yeah. Then your your doors or jar your doors. Yeah. Good. So how did the girls feel about you driving? The pink car?

Chris Price: 26:45

Oh, yes, it was. It was definitely this is my popularity.

Ian Arnold: 26:49

All right. There you go. It's reasonable. We ask that question. It is always interesting. So we will have great stories in there. We do have other people go. Thank you. It was this. And it's like no stories. And this is interesting that, but usually the first car is always good memories. So the New Yorker, yeah, you don't hear those two. All right. So I like hearing stories. So what do you think your most favorite memory was about with a deal?

Chris Price: 27:21

Oh, favorite memory. Man, so we have had a lot of good memories over the years. I would say one of them. That's interesting, if if not good was we sold a home in it was bank owned. And it was in Martinsville. And it was kind of like tucked away into the woods. And it was about this time of year. So it was kind of approaching Halloween. And there were just a lot of aspects to this house that were weird. And it had what it they weren't like jail cell bars, but it looked like there might have been that in the basement and just all kinds of weird stuff in the in the rumor got out that it was like a Halloween house. And man I could like everybody in the in my board wanted to go look at it. And there was like stuff popping up on social media were like these halloween tracking tours. It just it was kind of off the hook. And it was very memorable was also very stressful to deal with because we had to go back and take some stuff out of the house. So there wasn't a distraction and make sure the sheriff's department came out knew what was going on. So we ended up selling it. It was it was very interesting. But that goes back to maybe some of that unique problem solving that we do. And that was memorable. So no, that was a good memory but I

Ian Arnold: 29:00

I do remember that so did you guys dress it up and Halloween decorate? We did not

Chris Price: 29:03

know we didn't need to.

Ian Arnold: 29:06

It is interesting. It was it. There was a house in our neighborhood that I guess I found out later before I moved in that their daughter kept leaving. So they put bars in the front and I'm like, that'd be kind of weird, but I understand the reason trying to make sure your kid is not sneaking out but like there's alarms for that nowadays. Yeah.

Chris Price: 29:27

That might hurt the resale. Yeah.

Ian Arnold: 29:29

And then anybody else around you. Yeah. So with realtors there's a lot of misconceptions. So let's talk about what's a misconception customers or people not in real estate have about realtors.

Chris Price: 29:45

Well, I had misconceptions about real estate agents before I got in. Part of the reason I probably didn't want to get into the industry was I felt like it was very, very salesman II type role. You know that To like that you constantly had to be like, talking to people about selling or buying. And that that's my that was my fear is that I would always have to be like having those conversations and then getting into the business, just knowing that I can provide a value to someone, and that if I don't talk to them about real estate, not in a salesman, a type way, but just that I can show that I can provide value that they're missing out. So you know, a lot of times, people know, well, not all the time, but people know that I'm in real estate, and I won't try to sell them on anything, but if they want to talk about it, I'll talk to them about it. And so I think just knowing that not all real estate agents are in it for the, for the next closing or the money, but, you know, like I talked about earlier with resilience and persistence, you know, this is a career for me, this is, this is a brand that we built, this is, you know, this is, this is what we do. So I'm not in it for like, the the next closing, if it's gonna sacrifice, like my reputation or anything like that, I'm, I know, I'm in this for the long haul. And if it if that means saying no to something, or, or turning it a client away, because it's not a good fit, then I'll do that, you know, for the long run, whereas I don't know that the general public always, always sees it that way. But, I mean, there's just like, you know, the mortgage industry or, or any service that you're, you're involved in providing that there's really good people in it. And that, you know, we're in this, you know, this is our career. So, you know, that's how I look at it.

Ian Arnold: 31:40

I think the internet has changed the way that we have to do business, a lot of times you had to keep educating people. I mean, don't get wrong, we still educate people. But we're more instead of being a salesperson, because you can find all the information you want on a home matter, a few clicks, but we become more advisors. What information can I give you that you can't get? Or you or that you need? And I think that is what separates the fly by night salespeople and the courier because, yeah, we definitely I mean, especially when things are good, especially what was it and during COVID? Everybody wanted to become a real jerk, because they saw how easy it was. Well, guess what? It's not always easy.

Chris Price: 32:26

It's not? No. And I think that, that maybe attributes to some of the turnover rate in real estate, but you know, there'll be good people that got into the business within the past couple years that are gonna figure it out. But then there's that hard truth that, that this is, you know, skill based work that you've got to get a lot of different things that we do as real estate agents, or or loan officers that it's more than just opening the door, correct? Oh,

Ian Arnold: 32:54

it's not just opening the door, you sold the house? There's a lot of paperwork like Tiktok I think that's the biggest one, I think people will say is that which you could take it two different ways is all religions do is open the door and there it is, well, that's a bad way to look at it. Because there's a lot of stuff that's only like, 1% of what you guys actually do. But it's also a good thing is because you took all the issues and made it seem like it was nothing. So I I look it as a compliment. I mean, I understand what you're saying, but I'm gonna take it as a compliment. Yeah,

Chris Price: 33:34

yeah, maybe that's a good point, make it look a little bit simpler than it actually is.

Ian Arnold: 33:39

It's like, you gotta be that duck on the pond. You look smooth as can be. But under the water, your feet are moving 100 miles an hour? Yeah,

Chris Price: 33:47

yeah. I mean, you do you really have to be a counselor for whoever your clients are. Because they're, I mean, it's it's such a huge decision involving a lot of people's biggest investment. And so I don't take that lightly at all. And just to know that there's emotions that are tied up sometimes between family members or just with you know, such a big life decision that I mean that that's why I don't think that really any of this can be automated because of the human element to it. A buying and selling a house is you have to work through stuff and that's constantly what we're doing. On the real estate side of it.

Ian Arnold: 34:28

Yeah, I saw something they were thinking that AI was going to take over I'm like, I don't see that. I mean, there's too much gray area and things that could come up and like you said the emotions I mean, was it most I think all realtors need their their psych license to so they can deal with all the issues that you're going to have whether it's Hey, they just lost their parents and have to sell the house or a we need a downgrade or something like that. So when you downgrade when you go from a bigger house because you had five kids now you got Just you and your wife you downgrade, guess what? You can't get rid of stuff. Yeah. And that's a lot of emotion you're trying to get through. So I do agree there's, there's no way go to AI. I mean, I hate to say it, my job could kind of do it. But there's still a lot of people don't know what they don't know. So when I say that is like you give them options, so somebody is is me for, hey, what's your best rate? Well, after they give me all my information, I actually give them usually three different ones. One with the lowest lowest rate, one with the lowest closing costs, one might be in the middle might change the year or something like that. Because no matter what you think somebody else might think completely differently. And I don't know how many times and this is what Rick taught me when I first got in here is you never know, you could choose one and think that's but that's the way you think. And they can even tell you what the lowest rate, but as soon as you show them the lowest closing costs, and the rates not very different. They're jumping on that one. Yeah. So you got to show them options. And I love that you show options. Yeah,

Chris Price: 36:03

no, that is super important. You put it in a great, great way there that I think you can't make the decision for someone where I mean, we're advisors, like, like someone has a financial advisor for their investment portfolio. I mean, essentially, that's what we do. Yep. So

Ian Arnold: 36:17

So you said you have a 20 year old kid? So have they thought about dabbling in the real estate?

Chris Price: 36:25

I mean, there's, there's been a little bit of interest in the older kids. But primarily, they're exploring their own path right now. So yeah, we'll see how that goes.

Ian Arnold: 36:34

It is very interesting. And I will say this, that you watch, you talk to people that their parents are real estate agents, they went off and did something else. They're like, I'm never getting into real estate. And then after 10 years of doing whatever they need to do, they go back and go, maybe I should try real estate, and then went back in Yeah, there. So it's still there. So you can pass on your legacy?

Chris Price: 36:57

No, it is, I mean, it's, it can be a good family business. Because of the, like the experience, you know, the wisdom that you attain over time, and you want to be able to pass that off on your kids, and you know, your kids, they eventually will probably want to buy a home. And so you get to work with them in that process. And, and so you're hopefully you're, you're passing that wisdom to them personally, but then they get to see, you know, on a professional level what you do. So I think that, that would be good. I mean, if it's in the cards, if it's not, I'm not gonna lose sleep over it. But yeah,

Ian Arnold: 37:32

you don't push them. But let's be honest. You basically open up your own company. I mean, yeah, you work with Keller Williams, but you have your own thing. Doesn't every parent just want to be like, hey, there's a family legacy. I'm gonna pass this on to you. And I'm all retired.

Chris Price: 37:48

Yeah, no, I mean, that would be, that would be amazing. I'd love to be able to, you know, give that type of legacy to one of my kids or all of our kids. So, yeah, I mean, that that's part of the excitement about being an entrepreneur is you get to make decisions like that and do those things. And so yeah, hopefully someday.

Ian Arnold: 38:09

Yep. So since you're an expert in the indie market. Now, I'm not going to hold anything to your head or anything like that. But what do you what do you see in the next few years, do you think?

Chris Price: 38:20

Yeah, I, I think that we have a lot of really interesting things going on. When I first got into the business in Indianapolis, there was a very flat line depreciation. So we were very stable. We were very stable market. You know, really, we didn't have those. We didn't have the high cost of living, we still don't, we also don't have geographic borders that surround Indianapolis, like mountains or, or coast or anything like that. So the, you know, sprawl to the outlying areas, you know, has has helped, you know, with options, affordable options and things like that. So we kind of had always that going on, we were certainly affected by the housing downturn. And, you know, if you look at still stories coming out today, homebuilders still haven't kind of fully caught up with where, you know, the experts might say they should have for inventory wise, so. But, you know, with all of that kind of background, I think Indianapolis is still susceptible to like, you know, maybe a nationwide shift in the real estate market. We're not one of the frontline markets to maybe a huge upswing or huge downswing, like like a phoenix or you know, markets in Florida like Miami, but we get impacted by that. So we're somewhat into lated, but we usually see what's coming ahead of us. So I can say that I think what will what we have to see is prices, pricing has to be relaxed, your mortgage, so interest rates are quite a bit higher than they were a year ago, two, maybe three times as high. So the affordability when you go in to get pre approved, you, I mean, you can't afford as much house in that house prices haven't really changed yet. So people are either forced to buy a lower a home with less amenities maybe or smaller or just not to buy at all. So in in a free market of supply and demand, that means that demand starts to taper off. And I believe that's where we will go. There are some interesting things going on, you never know what the how the government will come in and intervene and all that stuff. And that affects things nationally, but builders have really seemed to be the kind of the, I don't know if say band aid, but they've really done a good job of bridging the gap and our current market. So you've got people that maybe aren't going to sell because their interest rates 3%. And then you've got buyers that need to buy. So you've got that, you know, we hear inventory shortage, which Indianapolis is certainly in that. But then the builders being able to come in and in that three to 500,000 price range, which you might call a move up price point. But they've really been able to keep the inventory out there. And whether that's them buying down the rate or whatever it looks like. I think that's what's sustained things currently. But again, I think that, well, I shouldn't say this. After COVID We all had probably rd ideas what was going to happen, and that's maybe prolonged things. So I would normally not prognosticate on the real estate market. But since you asked me, I think that's what has to happen. And again, prices have come down. Yep.

Ian Arnold: 42:15

Yeah, I think it's like, I'm never gonna say you're not Miss Cleo, you don't have a crystal ball. Yeah. So but it's just an interesting discussion, especially in the way we are now. I mean, was it during COVID? And the average house increased 19%. Appreciation? That is not there's no way you can hold that. Now, I will also say that even the prices have gone up. But so as especially a lot of the newer salaries, especially for people just getting out. I mean, was it I drove by Chick fil A the other day, I think they had a sign when a worker started at $19 now and I'm like, what was that when I was 18? Inflation? Yeah. But it's just one of those things that you you just look at it. And you're just like, wow, that's that's incredible, that they're up that high. But no, I agree with you, though. housing shortage, I think, is the biggest issue right now here around any is I mean, we see it, I think my board the other day posted, it was like nine days on market for my board. And you know, I'm just saying this for anybody listening is in Marion County, and basically all the surrounding counties. So it's like total 13 counties. But average day was like nine days. And I'm like, that's crazy on the market for nine days. So that's phenomenal. But it just says we have a lack of inventory. Now. I will say the one good thing about the the rates going up. And you might have seen this too, is first time homebuyers. They can now purchase Yeah, they may not be able to get the the house that they were looking at because the rates went up. But now they don't have to put down 40 50k Extra that they didn't already have because they're first time homebuyers. Because that's what they're been over asking price.

Chris Price: 44:05

Well, that's the beauty of how the market should work is when the competition pulls back those opportunities exist or, like the first time homebuyers, which is awesome, it's good point.

Ian Arnold: 44:15

But I want to thank you for all your knowledge that you've given us today. And what is the best way if somebody wants to sit here and not really here but on the phone or in your office and talk to you about real estate? Or if they want to buy or sell? How would they get in touch with you?

Chris Price: 44:31

Yeah, so it's going to be we have a team number 317-886-8477 That's, that gets myself or one of my co workers on the line talking about the end property source. We love setting up in person meetings. So that's, that's number one probably and then my direct numbers 317-225-5507 All right.

Ian Arnold: 44:55

And if you'd like to get a hold of Rick or I go to HardWorkingMortgageGuys.com That is how HardWorkingMortgageGuys.com and our phone number is 317-672-1938. And, Chris, I want to thank you for coming on the show today. It's been a pleasure having you on

Chris Price: 45:11

ya know, I appreciate it. It's good to get out here and, and do this online. Hopefully people found some value in it. So I definitely appreciate the opportunity.

Ian Arnold: 45:19

Thank you. And reminder if you have any friends, family or coworkers looking to buy, sell or refinance, let us know we more than happy to help you. Thank you.

Announcer: 45:26

Brent NMLS number 33041 Recruitment NMLS number 6645898. You know Arnold's NMLS number is 1895469 equal housing opportunity some restrictions apply