REINCheck

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VO
You're listening to REINCheck with Andrea Rice, Contracts and Industry Specialist at REIN, where you get the latest member news and information delivered straight from the source, REIN MLS.

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Andrea Rice
Hello and welcome to REINCheck. I'm your host, Andrea Rice, and today we are going to go over some fun real estate facts. So the past year has been very unique and people have been really busy and a lot going on. So I thought it would be fun just to do a quick episode on some fun real estate facts.

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Andrea Rice
So I'm going to go over ten of them here today, and I challenge you to see how many of these you already knew. Since you are the real estate professionals, maybe you knew more than I did, but spoiler alert, I only knew like two of these. But let's get started. And the first fun real estate fact is why is real estate called real estate?

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Andrea Rice
So the word real is a Latin term in origin from reālis, and I did not take Latin. So if that is an incorrect pronunciation, I apologize. And that is a term that means true. And real is also sometimes used in legal contexts to reference immovable property. And then the term estate goes back to Latin and French

00;01;22;05 - 00;01;48;29
Andrea Rice
origins, and estate has its roots in the Latin term for status, which means condition or state, so immovable property, condition or state. And that's where we get the term real estate. I thought that was interesting. Now this next fun fact I did know because this surfaced back in our times of COVID and that is that brass doorknobs disinfect themselves.

00;01;49;02 - 00;02;14;29
Andrea Rice
So did you know that bacteria naturally die after coming into contact with brass? The reason for this is that the ions within brass have a killer effect on mold, spores, viruses, and many of the things that make us sick. So if you have brass doorknobs, I highly recommend, right? I don't at my house, but, I would definitely look at that moving forward.

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Andrea Rice
So next fun fact maybe some of you guys know this, but I did not, but it makes a lot of sense when you look at it on a piece of paper. And that is fours and sevens communicate professionalism. So pricing psychology describes the pricing techniques used, to subconsciously motivate people to make a purchase. And research has shown that less common numbers, such as four and seven, convince buyers that you have found deeply about the price and are less likely to make any exceptions or changes.

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Andrea Rice
So if you want strong offers on your listings, prices such as 444,000 or 447,000 have been proven more successful then 450,000, for example. So I thought that was really interesting. And I have not seen a lot of those numbers in the MLS. So maybe that's one that a lot of people don't know about. All right. This next one is about doors.

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Andrea Rice
So if you ever visit Scotland you'll likely notice a number of houses with a red front door. So in Scotland it is a common custom to paint your door red when you finally pay off your mortgage. So I thought that was really interesting. I never knew that. And while we are talking about doors black or charcoal front doors make a home more expensive, according to research by Monster Real Estate Marketplace, homes with dark charcoal or black front doors and garages consistently sell higher than expected.

00;03;58;18 - 00;04;30;01
Andrea Rice
And the price point, they say, it sells more than is over $6,000 more. So I thought that was a pretty interesting fact. Okay. And we're making our way through in just a couple more fun facts for you guys. And this one is about the metaverse. So we did an episode of REINCheck about the metaverse. Oh, it's probably been a couple of years ago now, but in the world of AI, virtual real estate doesn't seem that wild, right?

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Andrea Rice
Virtual real estate can include virtual properties, land, and even virtual businesses. While these purchases may not have the same tangible value as physical real estate, they can still be valuable assets for users who want to establish a presence within the metaverse. And we did have, we did have a special guest on to talk about the metaverse and AI and that was a really fun episode.

00;04;54;10 - 00;05;21;23
Andrea Rice
So I do invite you to go back and look that up. If you're interested more in the metaverse. Okay. This is something interesting that I, that I did not know. McDonald's is a real estate business. Did you know this? Did you know that McDonald's was initially founded as a real estate company? The original business model was to buy land and lease it to franchisees that would run individual McDonald's restaurants.

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Andrea Rice
Today, McDonald's is still a thriving real estate business with nearly 40,000 locations in over 100 countries. The company makes the bulk of its money by renting ownership of the land and renting restaurants to franchise owners, in addition to standard royalties and monthly franchise fees. So I did not know that And our last fun fact is that the average person moves 12 times in their lifetime on average.

00;05;49;01 - 00;06;14;11
Andrea Rice
So according to the recent survey by the United States Census, the average citizen will move homes nearly 12 times throughout their lives. I think I've already exceeded that. So I wonder what number I'll hit. But luckily, most of these people actually need a real estate agent when they make these moves, so that is great business. And that wraps up our fun real estate facts for the day.

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Andrea Rice
And I hope you enjoyed this. And of course these were all found on the internet. So all of them must be true because you cannot post anything on the internet. That is not true, right? So thank you. I hope you enjoyed this episode of REINCheck. If you have not done so already, I invite you to go to REINMLS.com and subscribe so that you get future episodes delivered directly to you when they are released.

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Andrea Rice
Thank you and have a great rest of your day.

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VO
You've been listening to REINCheck with Andrea Rice. Stay in the know from those who know. Delivered straight from the source, REINMLS.