Business Innovators Radio - Interview with Chandra Herman, Realtor with BrightCO Home Group

Episode Date: October 31, 2023

Colorado has been home since Chandra was 10. She has a beautiful blended family. 4 children, 4 dogs, and a few reptiles. After being in the medical field for almost 10 years, She decided to follow her true passion of Real Estate. A year ago, She launched her own team, BrightCO Home Group, to focus on her local small town of Florissant and the surrounding area.Mountain Properties is her niche. Our tagline is “Where Kindness Meets Real Estate” because she truly wants to bring each individual a unique experience that makes them feel valued and heard throughout our small journey together. In doing so, Chandra hopes to make everlasting relationships and continue to help people make their financial goals a reality. Chandra absolutely loves what she does!Learn more:https://BrightCOHomeGroup.comElite Real Estate Leaders Podcasthttps://businessinnovatorsradio.com/elite-real-estate-leaders-podcastSource: https://businessinnovatorsradio.com/interview-with-chandra-herman-realtor-with-brightco-home-group

Welcome to the Elite Real Estate Leaders Podcast, brought to you by Trailstone Insurance Group, bringing you interviews with the best real estate and mortgage professionals, empowering you to understand the current trends in the housing market so that you make the American dream your reality. Enjoy today's episode. Welcome to the Elite Real Estate Leaders podcast. Today we have with this Chandra Herman, who's a realtor with Breitko Home Group. Chandra, welcome to the program. Thank you for having me.

Hey, you're welcome. I'm looking forward to learning from you and finding out how it is that you serve your clients, but get us started first with what your story is. What got you into the real estate industry in the first place? Yeah, so I actually had gotten my real estate license at a really young age of 20. That was around 2007, 2008, when the market crashed. So I had quickly gotten out of the market and went into the medical field. I was starting a young family at the time.

So I went into the medical field for about 10 years. And then at the end of that, I had just decided that real estate was my true passion. And I needed to do everything I could to get back into that. So that is what I did about five and a half years ago. and I have been serving clients ever since and growing my business. I absolutely love it. You know, that's interesting that, you know, about 2007, 2008, back when the whole housing crisis, you know, people were running from the industry. So great, let's go to the same pavement of medical.

But, you know, like, you can't ignore the tug on your heart and the passion. And so what is it that you like about real estate? Is it the flexible schedule? Is it the serving clients and kind of helping them achieve their, you know, homeownership dreams? Yes. I am really passionate about helping people grow their own personal wealth. Well, excuse me.

I personally came from absolutely nothing. As a matter of fact, when I started my business, I had $100 in my pocket. And I have learned everything about this business organically. So everything that I learn, I love to pass on to other people so they can get themselves out of the situations, you know, that I was once in as well. Yeah. Neat. Awesome. So I know you work in Teller County. What are some of the things that you have found as unique in Teller County?

And how do you focus your services there? Yeah. So Teller County is a small mountain community. We do have a larger town, Woodland Park, but it does get a little different out this way. It is more royal, so we are starting to see more of the economic impact out this way. I am just helping people by keeping education open and honest and making sure that I am staying up with all of the data that is around here. Have you found that some of the volatility in the Colorado market has impacted mountain living? Or is it kind of taking its time to get there and it's just now arrived?

I think it's just now arrived probably within the last month or so. Our inventory is upticking and home prices are dropping. I think with the economy where it is, people are definitely. second guessing living this far out and if the commute is really something they can do. So it is making our pool of fires a little bit smaller for sure. Are you finding that more people are, that you're working with, you know, like people wanting to buy primary residence versus looking for like that investment property, second home kind of a deal? Yeah. It is very mixed still, honestly. Our short-term rental market, I think, is definitely tightening up years prior.

We were seeing a ton of people wanting to buy the second homes investment properties turning into short-term rentals. And now that is kind of leveling out and I think is becoming more even with people looking for primary residences out here. Yeah. So what are some of the differences between mountain home living and city home living, that buyers should be keeping in mind because you already mentioned the commute. So if you work in the area and the commute's not long, then that's not a factor. But sometimes people are going to move to your area and have a longer drive. But what are some of the other differences? Yeah. Some of the other differences that should be noted is utility costs. A lot of the homes out here are on natural gas, but some are on propane.

So that is a really big thing to watch out for. Excuse me, I cannot talk today. Propane costs kind of align with gas costs. So they are higher. The good note is that your well in septic is, you know, pretty much payment free unless you need to get those serviced. That is really it. and just the costs really of making sure you have all that aligned.

Yeah. And I think probably some of the other things that people would need to factor in would be like if there's a commute, then you're going to have extra cost of gas to get where you're working or wear and tear on the vehicle. So, I mean, there's those considerations. And there's probably a lot of people that say, I will pay that in double just to get me out into the middle of and get me out of the big city. So I think that it's just like you said, you've got to figure out what people are looking for.

And if that's the lifestyle they want, then these are the considerations to think about. Absolutely. What about though a kind of a small town vibe? While some people are looking for that and specifically, you know, come to that area for, you know, being remote,

do you find that sometimes people need to have a little bit more clarification to say, let's make sure you're prepared. You know, here's really what you're up against. You know, this is a town of and there's two stoplights or whatever the case is. But how do you prepare people for mountain living? That is a great question. I usually let them know where all the big shopping is.

So out here in Florissant, which is actually my little town out here, we have like one small grocery store. So it's important that people understand that all of their big shopping, and conveniences are at least 30 minutes away. And we only have like one gas station out here and maybe one restaurant. So people really need to decide if that is the lifestyle they are ready for because you cannot get DoorDash out here. You can't get pizza delivered, anything like that. So you really have to be prepared, especially in those back.

bad weather months, you know, make sure you have your groceries stocked up and you're ready to go. You need to be ahead of the ball when you live out in royal communities like this. Yeah, that's a really good point because I think a lot of times people just go, oh, well, I'm just going to end. And some of those things like you mentioned and probably many others are like, well, you know, that's fine that you think that way. But out here, you need to remember that. And again, it's for the right people, that's extremely attractive.

You know, you see some of the TV shows with people living out in Alaska and, and you've got to fly somewhere to get groceries. Well, it's not quite that bad, but that's attractive to some people. So I think that that's a huge draw is that that rural aspect and that rural feel. It kind of makes me think about some of the questions that come to my mind. Do you ever run into lending guidelines when you have a buyer looking to buy in your area and maybe the mortgage lends? is running up against an underwriter that is having certain stipulations because it's rural, like maybe they need to have an extra consideration. What are some of those things that they should be prepared for on the financing side of things that

you've heard? Yeah, that's another great question. Right now in particular, I have a listing where the buyer's lender did not tell us until a week before closing that we needed to get a water test. And although I warned the buyer's agent that this is probably going to happen, it went unheard. And so they, you know, are having to jump through hoops to get this water test because the property is on a well. And it is an FHA financing. They do require to get a bacteria lead and nitrate test done on the well.

So we've had to get a little creative to get that done fast. These tests normally take about 14 days, but it is good to have somebody who knows people out here. You can get a general contractor to do those things for you also. And then manufactured homes is another big one out here. You always want to make sure your lender knows all the guidelines for a manufactured home. Like you're going to need to have your HUD tag visible. The foundation is going to need to need to. meet current codes if you have an FHA or VA loan and is going to have to have the proper

tie downs for that too. So yes, things are we running through all the time. Yeah, that's a really good point. And like you had mentioned a minute ago about teaching and educating and guiding your clients, you run into a problem once and you go, I don't ever want to have that again. And so what can I do the next time? Okay, well, I'm going to make sure that I. And these are the kind of things that you just probably think in your mind, oh, that's just how I do business. But for someone coming to that area, this is going to be brand new to them. And they are going to really appreciate being told, okay, let's be prepared for.

Let's make sure that. And I think that that right there elevates your credibility in their mind because it's like, you've been there, done that. And boy, that saved a whole lot of heartache at the last minute. But, you know, like the deal you're mentioning right now, it'll get done. It's just causing the blood pressure to raise because you've got to get it done quicker. Yes, exactly. And so what are you finding as far as appreciation and that kind of thing?

Because I think that in the bigger cities, you're going to find that, oh, well, if you live in house for X number of years, you'll probably have around this percent of appreciation. and then you might be able to, you know, sell and move up. Do you have that kind of a trend in your area that's a smaller mountain town where, you know, and again, the market changes and the market can go up down and all around? But what is some of the path forward in the clients that you've been working with? Do they tend to buy and then stay for quite a long time? Or is it something that they're using it almost like a stepping stone and then getting a different property and moving forward? Yeah, that is pretty much just how it goes out in the city, same as out here.

I get a lot of people who first call me because they want to build a home. And so we talk about that and all of the guidelines for that and how much it costs. And they usually end up buying just a smaller home and a smaller piece of property for now. And then usually stay in that home for three to five years and then upgrade. to, you know, a bigger home with more land. I think the expectations are just is not common knowledge. People think they can just build a home on a big piece of property and it doesn't cost very much. And it turns out it's sometimes more expensive to do it that way. Yeah, I think that's a great, really great point. And what worked three to five years ago might not work three to five months from now.

So things can change. The markets can adjust. And I think that's a great point to keep in mind. You know, I see a phrase on your website that I'm really intrigued with where kindness meets real estate. And when you see a phrase like that, it makes you think, well, in some cases, kindness doesn't meet real estate. So for you to focus on that, that might mean that some people in the past have experienced not a kind situation, their real estate transactions in other areas and other states. So tell me a little bit about how you guys are focusing on this.

What was it that came to mind to even make this a focal point? Yeah. So when I first started my business, I worked with a ton of first-time home buyers. And I would always hear, man, I just really appreciate you calling me back, even though I have a low budget. and I have no idea what I'm doing or how to get this started. And they appreciated the guidance and the follow-up that I had no matter their situation. I have had clients that I've had to work with for three solid years to get their credit up and money saved and teach them how to do these things.

And they really just appreciate the kindness and that I talk to them like an everyday person. and I make the time for them. So that was my biggest thing about kindness meets real estate. It doesn't matter where you are in life. I want to help you and guide you through it. Like I said, I started my business with a whopping $100 in my pocket. I was newly divorced with my two children, and it was quite the whirlwind. So I want to remain humble in that aspect and remember where,

I came from and be able to help people, you know, further their wealth and and their real estate knowledge and portfolios. You know, isn't it a sad state of affairs when people get excited and appreciative of someone returning a phone call? You know, that should be just, you know, business 101. But these days, it doesn't take much to stand out from the competition because if the competition is taking two or three days to return a call or not at all. And you're calling back the same day or responding to a text or an email. You know, that for most professionals, people that are successful, that's just, you know, the way that should be done.

But when it stands out, it's a sad state of affairs, but it's like, okay, if that's what makes it you feel like I'm being attentive, wonderful, because that's easy for me. And if you like that, wait till you experience the rest of our service package. So I think that's just a really. neat. Uh-huh. Yeah. Thank you.

Well, what I would say is at this point when someone is thinking of moving to, you know, your neck of the woods, so to speak, so Teller County, they're typically looking for specific things. What is the best way that someone can learn more about what you guys are offering and then also reach out and connect with you? Yes. So my website is an easy way to get started. It's brightcohomegroup.com.

And you can reach me any time on my cell. It's 719-661-561-5067. Excellent. Well, Chandra, thank you so much for coming on today. It's been a real pleasure talking with you. Yeah, thank you for having me. I appreciate it. Thank you for listening to the Elite Real Estate Leaders Podcast.

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