In South Carolina a real estate agent has certain obligations as it pertains to Seller Disclosure. Seller Disclosure is not an easy form to fully understand for the buyer or the real estate agent. Many of these mistakes are costly to your client and even you. In this podcast I countdown the Top 5 mistakes that real estate agents continue to make in dealing with Seller Disclosure. Learn what the mistakes are so you can avoid them in the future.
I also share "As Gary Sees It". We end as always with another installment of Gary's Good News Only!
Enjoy
Gary
* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your jurisdiction for applicable legal advice germane to your issue.
In South Carolina a real estate agent has certain obligations as it pertains to Seller Disclosure. Seller Disclosure is not an easy form to fully understand for the buyer or the real estate agent. Many of these mistakes are costly to your client and even you. In this podcast I countdown the Top 5 mistakes that real estate agents continue to make in dealing with Seller Disclosure. Learn what the mistakes are so you can avoid them in the future.
I also share "As Gary Sees It". We end as always with another installment of Gary's Good News Only!
Enjoy
Gary
* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your jurisdiction for applicable legal advice germane to your issue.
edition dirt with Gary pequin, South Carolina's only podcast dedicated to the real estate agents craft. Greetings, everybody. And welcome back to another episode of edition dirt with Gary pequin. I am your somewhat talented and very opinionated host, Gary patron. And I would like to say that I missed you guys last week by not doing a podcast. But that would be basically a lot. I enjoyed my spring break vacation with my family as we went out and did some hiking in Yosemite, Sequoia and Kings Canyon National Parks out in California. And it was very, very beautiful. But I won't talk about that trip in a few minutes on one of the crazy things that I saw as it related to COVID as Gary sees it, which brings me to what this shows about this week, we're going to have a great show, we're going to do five ways that real estate agents screw up seller disclosure, this is something I really need to listen to and understand how dangerous the seller disclosure form is to you and your practice. There also be a quick episode on as Gary sees. And this is an event that happened to me concerning COVID. While I was in Sequoia and up the spine, that whole thing hilarious, and I think you might find it as well. And of course, we'll finish up today with Gary's good news only. So let's jump right into our show. So I'm very excited about this podcast this week, because I am a total geek when it comes to the seller disclosure form. Back in 2013, when the real estate Commission issued a new seller disclosure form, took a look at it and realized quickly how bad it was and how all the problems that were involved in how it was going to get a lot of real estate agents and a lot of sellers sued. So quickly jumped in and started going around the state of South Carolina complaining to anyone who would listen mainly real estate brokerage firms about how bad the seller disclosure form was, and how they better start rallying against this form. Because this form is gonna get you in a lot of trouble. He was asking all kinds of crazy and asinine things that most homeowners could not answer just was was crazy. I wanted to know, every repair you've ever made. Since you've owned the house. I mean, nobody can remember that. Try filling out a medical form for insurance and trying to remember the last five years of your medical history. If you can't remember your last five years of your medical history, how in the war, you're gonna remember anything that you did to your house in the last five years. So I started complaining about it with summons over to the real estate commission. And the real estate commission asked me what I thought was wrong with it. And I spent about an hour eviscerating their document So that time they said, We l, good, we need to have it ewrite, rewritten, you can help and we can't pay you. So I joi ed the task force, it rewrote he new form, which we've be n using pretty successf lly here since I think about 20 4. And it has been updated couple times since the form is antastic. I like the new form I think it does a really g od job. Is it complete y perfect? No no form is are t e things that they're things t ey asked, I don't really c re that don't need to be asked but because the law requires us to do so we have to ask them And I think we did a good job And I really liked the form. So I've become a kind of a geek whe it comes to this form. In fact, I've become such a geek on this orum that I've actually written book on seller disclosu e. And you can find that boo on Apple, and as well as on ou website, if he was going to Blair cato.com you'll be able o find our book. But I wrote th s book over the COVID I guess CO ID break if you want to call it hat. But while the office w s shut down to consumer coming in, and we were doing cl sings in the parking lot, I w ote The Complete Guide to the s uth carolina resident al property condition disclosu e statement. And that book can be found, as I said on our webs te, and also it can be found in Apple books or anywhere else, yo get your ebooks. Now, here's t e best part of that book. It s free. I mentioned free Yes it's free. It's about a 72 pag book. It goes through everythi g you need to know at all abou seller disclosure. So you can ownload your free copy of Blair Cato calm. Not only is the book good for real estate agents, ut it's a book that you can shar with your buyer. And with you seller. It is index does a n ce nice table of contents so your clients can go find the section that they need to find nd not have to flip through he whole book. But I think th whole book is a really easy rea. You can read in about an hour r so. And it will tell you abou everything you need to know abo t seller disclosure so you can uit making these five top mist kes. So now I want to get on w th our countdown. And like I d d last week and our podcast n five ways that real estate a ents screw up the contract This podcast five ways that rea estate agents screw up seller d sclosure and we'll start wi h two honorable mentions And they're kind of relate s it's basically one big one but e'll we'll call them as to now r member everything under southcom e seller disclosure was found un er 27 dash 50 Real Estate l ws 40 dash 57 for real estate a ents but 27 dash 50 is where yo'll find your law as it pertains to seller disclosure. The firs way as an honorable mention hat I believe real estate a ent screw up seller disclosu e is not checking for blanks a d non answers. Now you are requ red under South Carolina law to ensure that your client c mpletes a solid disclosu e. I take that as meaning hat they complete it complete y, not just a put a few answers n the page and they're done wit it. Then you have a duty to rite your clients if they ref se to, or fail to do it, writ them a letter and say you are equired to do the disclosu e do it. That's actually a requirement you have under th law. How many agents know tha or do that by letting your cli nts leave blanks and non answ red, I think you violated your rule and your your requirem nt under the under the wall. Bu it also leaves you subject o lawsuits. So when these it ms aren't answered, or left bla k, the buyer consumer when a p oblem arises, who's going to come after you and the seller s ying you purposely withheld that information. And so that uts you at risk. So always g through the contract or the s ller disclosure form. And alwa s make sure that the seller i completing all blanks, and all tems, and they're not providin non answers. Now, the other no honorable mention, is not chec ing for incorrect statemen s. Now, this could be in our t p five, and quite frankly, number six, and seven, all coul be inside of it as well, th se are all very importan. This one we call is probably five B if it's not the top five But when you don't check fo incorrect statements, you defi itely set yourself up for liab lity and lawsuit. For example, if you're sitting in this hou e during a middle of a July rai storm, thunderstorm, and the eller has buckets and pots aro nd the house, because it's lea ing like a seed. And you take the listing, and two days lat r, you get the seller disclosu e, and they say there's no water intrusion issues, you know, th y're lying. So you've got to h ve that corrected statemen made. And if your client r fuses to do so this is one of t ose times I would advise y u to fire client, because f your clients going to lie on t is disclosure, they're going to get you in trouble in many oth r ways. So usually, it's bes just to go ahead and follow t e client, they refuse to updat it. I don't think there's nough disclosures you can prov de and say, hey, my clients ying on this, because we've go these conflicting duties a d disclosure of material adverse facts, but you also got this duty of loyalty and conf dentiality. Of course, those du ies don't survive when it viola es the law. And so therefor, you're getting yourself into it to speak with your cli nts. And look, I have a duty to isclose this, you're saying n t to disclose it, I have to, and so you're in a big mess wit your client. So if your cli nts going to refuse to correct tatements you know, are wrong, t en oftentimes, it's just bes to fire a client. Now let's st rt with the actual number c untdown, we're gonna go to item umber five, this is the fifth mo t common way that real estate a ents screw up seller disclosu e is not knowing the exemptio s, but more importan ly, not knowing who is not exem t. Now, I did a whole podcast n exemptions. And you can find this podcast on this platform by searching through this pla form or go to our website t Blair Cato calm and you shou d be able to find a link to ll of our previous podcasts It's a very good podcast, I would highly recommen it. And in this podcast, we talked about the 15 exemptio s, there's 15 people or 15 group that are exempt from ever hav ng to provide the seller d sclosure. And I'm not going to go through all 15 of those be ause that would take a whole po cast but I'm just gonna mention he top four or five. Number o e is when a court order requires a transfer title, think Oreo com any forecloses on the property they're now selling it you're n t going to get a full seller d sclosure from an Oreo that is ifferent. However, if somebody buys it from the Oreo, and now hey're trying to sell it, that is not the same thing. But if t e Oreo is selling the property then there's no self disclosu e to or from the federal overnment. If you have any gove nment agency, whether it's a f ll government agency, like the VA, or HUD, or a quasi governme t agency, like Fannie Mae or F eddie Mac, those entities are selling the property You don't have to do a disclosu e. The third most common i state governments is agencies and departments. So if South Ca olina Department of Housing ne of those agencies, whatever they're selling the property No, you don't have to do discl sure. The next most common i a for sale of a house which ha never been in habit. This is here a builder is building a house and they're selling t. So builders don't typicall have to do disclosu es. However, if somebody has occupied the house as a ren al or otherwise, then you abso utely have to disclose as a bui der. And then finally, when the parties agree in writing, that no disclosure statemen will be completed. So if two p rties get together and say, Hey I don't want to do a disclosu e, that's okay with me, we can d that, that set forth in the c ntract. But now let's talk abo t the ways that people try to c aim they have exemptio s that aren't true exemptio s. These are my favorite ones. Number one is the seller n ver occupied the house. Nope, th t's not an exemption just bec use you never been in the hous never occupied it never se n it doesn't matter. You stil have to answer the question Do you have knowledge? Or do yo not have knowledge? Have you been told are these problems And you see them on a report? t doesn't matter if you know the e issues, you have to say yes r no, that's it. Number two, the house was for sale by owner. T at's not an exemption. But it i something you can use to try t get people to use you to sell ouses when they're trying t sell on for sale by owner. B cause a lot most sale by owner don't know they have to fill his form out. So when you're m eting with a for sale by owner trying to convince them that the need you ask them if they und rstand seller disclosu e, they know where the form is hey know how to complete it. You can tell them you do a d there's actually a podcast n completing it if they would li e to look at it. There's lso a book you can provide hem on it if they want to read hat. And that's just another xample of the services you prov de as a real estate agent. T ey're not going to get if they ry to sell the house by owner bu that is not an exemptio. I've also heard people c aim that The property was an i vestment because it's an inves ment. I don't have to do there s there's no investors exemptio, any more than there's an exemp ion for nonprofits or churches I have a lot of people tell me, oh, it's a church. So we don't as a church building so we don't have to disclose No, if it's a h use that's owned by a church, ou got to disclose it. resident al properties have to be discl sed. And then lastly, the most most common one we hear is that eople say, Well, he's a landlord they don't have to do a disclo ure, there is no landlord tenant exemption. In fact, I ould argue that the landlord probably knows more about wh t's wrong with their house th n the average homeowner because he tenant complains about ev rything. So that is your num er five way that real estate a ents screw up seller disclosu e. Now on to number four, it's just a fourth way that real estate agents screw up the notice the seller disclosure form, items that are answered as no representation, termed a representation should not even be in the form. The only reason it's on the form is because the state legislature in writing the law said that the buyer or the seller other could answer is yes, no or no representation, which actually contradicts the entire statute because the statute says that the seller shall answer the following questions. So if you have to answer the questions, it's mandatory to answer how do you get to write no representation, which is a non answer. It makes no sense whatsoever. So the statute contradicts itself never seen a court ruling on what they say about it. But it clearly contradicts itself. But I would tell you that no representation is never the correct answer. Because the question asked you, do you have actual knowledge? Yes or no? It's not asking you can you find it? Do you think there's an issue? Is there possibly an issue? Is the house perfectly in perfect condition? Are you warranting is never going to break? It just asking Yes or no? Do you have actual knowledge. So there's no reason to put no representation, you either have knowledge or you don't? It's that simple. So I don't understand why people think they write no representation. Somehow they avoid liability from that that's absolutely asinine. But here are three really solid reasons why no representation doesn't work. And but before I get into these three, I've also done a podcast on this this exact issue that you can listen to on this platform, if you'll just go look for the no representation video. This one goes in full detail about it. But here are the first three one is that every year we have a certified education instructors class that I have to attend the so in order to teach the mandatory education classes for real estate agents. In 2017, their class included a section on self disclosure. And during that seminar, the investor or the instructor rather asked us well, when was it property used no representation, and for over an hour, a class full of lawyers, brokers in charge and class instructors debated and not one single idea that was ever put forward ever survived scrutiny? Basically, it always came down to is that's not an exemption. And all they're asking is yes or no, do you have knowledge, no representation could ever withstand any scrutiny. So if it couldn't withstand scrutiny in this class, it certainly will not withstand scrutiny in a courtroom. Secondly, as I mentioned earlier, you have a duty as a seller to disclose certain material defects in the property, and particularly those that are set out by law. And when the seller selects no representation of an item he has actual knowledge of he's essentially failing to disclose a known defect, which is going to likely result and a claim for failure disclose So writing down no representation, when you truly know that there is an issue is the same thing as lying and saying, No, it's not going to get you out of anything, it's actually going to probably raise a lot of red flags and make you look a whole lot more guilty. So because that question is a simple yes or no answer. I think anybody looking at that on a jury or a judge is going to be like all they had to say was yes or no, was there an issue, there's no representation seems very shady and see let they're trying to skirt or obfuscate on the issue. And of course, the third thing I would throw out LSU on this issue is that I have seen an increase of number of lawsuits against sellers for failure to disclose. And I've always said that if a seller truthfully discloses, they're less likely to get a claim you can't sue somebody when they disclose something for sale or failure to disclose. So disclose it and you shouldn't have any issue for failure disclose, it gives the buyer the opportunity to do further inspection and make sure that the repairs were done, and they were done properly. But as I said, there's a whole podcast on this and I could spend 30 more minutes talking about it, but go listen to that podcast on this platform, and I think you'll get a lot out of it. Alright, the number three top 33 reasons that real estate agents screw up the seller disclosure form is not understanding the difference in repairing and fixing I can repair something or I can fix it fixing it doesn't necessarily repair the damage caused by the issue. So for example, if my roof is leaking and I've got water pouring into my house, but I go up and I put some tar or some type of substance on top of the shingle to stop the leak. I fixed it did not but I didn't repair it because I didn't take care of all the wood that might have gotten a mold and mildew or became less structurally sound. So in order to repair it, I may have had to remove the shingles I may have had removed the the boards I may have had to go in and replace some things, some insulation. So understand that when your client lacks to repair an item and not disclose it, you got to make sure they understand that it has to be fully repaired. It can't just be temporarily fixed or a band aid put over it. Now, this is important because under our disclosure form, you're not required to disclose items that have been repaired. It's only current problems, but they are for weight reasons, I do think there are four things rather I should say that I think should always be disclosed even if they have been repaired. Number one thing you should always disclose, even if it's been repaired are repairs to the HV AC, any any repair you've ever made to the heating and air system. If there's if it's been fixed, go ahead and disclose it, go ahead and provide them the information. The second thing is water intrusion, if water is ever intruded into that foundation, or under that roof, you need to go ahead and disclose that. You also need to disclose any foundation issues. If there's ever been a peer structural peer put on that property, I would 100% disclose that. And then lastly, I would always disclose termite issues, because what's going to happen is once your client the buyer moves in, rather, and there's an issue found, the repair company made that they select might be the one who's already done the repair or go Yeah, I've been out of this house before on this issue, or the nosy neighbor is going to come over and say well, what's wrong with the air conditioner now, and it doesn't matter if the repairs are 100% unrelated. If once was a condenser, analiza compressor and one of them had nothing to do with the other, they're gonna say had you disclose that they would have done a different type of inspection and would have found that issue and they wouldn't have bought your property. Now we know that is not true. But it's hard to argue against that. So my point is, you disclose those four things, when there are items that you show that those have been repaired, you share the bills, and the work that's been done, and you'll be fine. But when you don't disclose those, they're going to find out those ions repaired and they're not going to be happy about it. Now on to number two, not updating the disclosure when the contract falls through. Remember you have a duty your client has a duty to update the disclosure, they can do one of two things. It's a seller disclosure becomes materially inaccurate for any reason whatsoever, false misleading or inaccurate during the sale of the house, or if the contract fails to close. And the seller disclosure is now inaccurate, the seller has two options. One is I can update the seller disclosure. So it's now all truthful and accurate. Or secondly, as I mentioned in the last item, they can repair the item that's been broken, defective or malfunction. That's not been previously disclosed on the seller disclosure. If they repair the item again, fully correct the issue not simply put a band aid over to stop the damage from larceny. Now, if the transaction fails to close, the seller decides they're not going to repair it and they want to just update the disclosure. The seller must update any items that are on the disclosure that are inaccurate. And while it might be tempting just to ignore these items, and not to update it, you know what's going to happen, the buyer that wanted to buy the property but fell because the deal fell through because of inspections and their agent typically are very irate when they learned that you sold the house to somebody else and didn't disclose that now I have had agents and previous buyers call saying I want to tell the new buyer, I'm going to file a grievance. So understand that if somebody is contract falls through and then you just relist the property and don't update this disclosure, and now it sells as somebody else with that same issue still there and not disclosed, that's going to anger somebody and they're going to take action, whether it's through a grievance process, or disclosing that to the buyer who will probably follow suit against you. So you got to be very careful. Now, how do you do this, you need to take the inspection report and you need to take the seller disclosure form and review the disclosure form and look at the inspection report and see if there's anything now in there that should be in your disclosure. But keep in mind your inspection reports could be 60 7080 100 pages. So there'll be things in the inspection report that are not in the disclosure. And unless it's a material adverse fact it doesn't have to be disclosed in there. So every single item they put in there like a nail pop or a discoloration of paint outside or whatever, that doesn't have to be disclosed if it's not one of the items. But if it's one of the items listed in the seller disclosure, be sure that you update that seller disclosure. That is why in the Columbia contract in the ccra contract we require in order to terminate a contract due to due diligence that you have to provide the full copies of all the inspection reports to the seller so that the seller can update the seller disclosure. That's why we're requiring those reports not so they can provide them to somebody else to avoid that person having to do inspections. No, it is so the disclosure can be updated. And now to our final and number one thing that real estate agents screw up in seller disclosure is not understanding that seller disclosure is a sword that will be used against you and not a shield. There was a mandatory continuing education a few years ago that had seller disclosure in it. And in that seller disclosure lecture in the both the lecture notes they had for us the outline they had for you and on the slide the first thing they put up there on the slide was the seller disclosure form as a shield for the real estate agent from liability. Bull. That's the biggest crock have ever heard. That is a comp ete falsity. That is a dumb sta ement. They should never have made that statement. And if you really Lie on that statemen, you are a complete fool. I nderstand that the seller dis losure form is a form that very plane is attorney looks at o figure out who and how the're going to sue you. So when omething breaks in the house, th y look at the seller disclos re form and goes, Well, they d dn't disclose that let's do the real estate agent. And let's su the seller for not disclosin it, I get lots of phone cal s from buyers saying this wa n't disclosed, this wasn't dis losed, I think the real est te agent knew about it, I wan to sue the agent, I cannot tell you the number of phone ca ls, I get any year of that ex ct format, they want to sue th real estate agent and the sell r because something broke in he house, and they believe i wasn't disclosed to them. S you need to start understandi g as a real estate agent, hat that is the most dangerous document in your file. And t at you need to make sure that do ument is 100% completed, truth ully completed, and it's updated when it needs to be updated. Q it taking this document lig tly and thinking that it' nothing for you to worry abo t. And it's for your client o do and you don't have to tou h it, that is going to get you n trouble. If you get nothing else out of this podcast, I un erstand that start respe ting the seller disclosure form, understanding how dangerous it i to use an agent and to your seller and making sure it s done properly. If you don't you're going to find yourself c aimed lawsuit grievances ca not state that strongly nough for my 26 years of exp rience of representing real est te agencies all over the stat of South Carolina, I hear an see the complaints. And that s your top five mistakes real es ate agents continue to make wi h selling. And now on to Hanno er additional Gary's good news, e're gonna call this as I as Ga y sees it, that's what we'll cal it today. But it's basicall Gary's good news. I just had the pleasure of going to Cali ornia with my family for sprin break to do some hiking in the ational parks out there. And I was in Sequoia National Park. An this quick example, just sho s you how fortunate you are t live in a civilized society lik South Carolina, where peo le understand that the COVID virus is dangerous, but they als understand that life goes on and that we pretty much have igured out who's most at risk th t 90 something percent of us h ve zero risk from getting it o dying, that mainly the p ople who are getting this and ha ing complications from it are e ther one of two categories. They are either over the a e of 65, or they're extremely ob se. We know that 80% of a l hospitalizations have been hat they've consider extreme obe ity. And we know that I th nk it's like 90% of all deat s have been from 65. And over that the numbers are astronom cal, we know exactly who's at risk. So we know that the ave age person walking on the stre t has zero or little risk of ther than getting sick from i, but will more than likely rec ver as I was hiking through Sequoia. Now keep in mind, this is a massive National Park size of some small states. It's massive skiis Sequoia National Park and Kings Canyon is all one big area. And there is when you're inside in California, you have to wear a mask. When you're on federal property, you got to wear a mask. But the rules do say if you can maintain social distancing, you don't have to wear a mask while hiking. So we're on a trail along the river hiking and there's as Karen standing by the riverbed taking a picture of the waterfalls. And I went past her, I just walked right past her. I mean, I was in her space, no closer than three feet to her for I don't know, 100th of a second. The lady literally turns to me covers her mask, she's wearing a mask and screams at me Get away from me you're not wearing a mask. And I looked at I said don't worry, I'm fully vaccinated. And I continue to walk 30 feet from her. And she says you can still affect me and I said literally I can't. You're not gonna get I don't have COVID and she's like, you don't know that you could make me sick. So I literally passed her and the next person on the trail has a very past was a doctor from Wilmington, because I they stopped and I was like, he's like, come on through. They weren't wearing masks, either. He's a doctor and he wasn't wearing a mask because he thought they were as worthless as I did. And so they walked past him. I said, Dude, watch out for the COVID Nazi behind me. And I said, you know, he's like, Yeah, she doesn't understand science. You can't you know, Hey, you got to be in her face for 15 minutes. You got to be within like three feet of distance. It's not an aerosol. It's a droplet that you in fact are. So unless you're spinning as you're speaking you're not are sneezing or coughing. You're not going to give it to her. She's wearing a mask. The wind's blowing, and you've been fully vaccinated. Should I go on to the reasons why she can't get to COVID Bowers. So I kept walking up to the waterfall about an hour later, I came back down the trail. And there this crazy woman was again, and literally she covered her face and Dove almost into a bush in Iraq covering herself as I walked by her again. And I looked at I said don't worry, I'm still COVID free. But that is the craziness in the other parts of the world in San Francisco. They're not allowed to go out. sod in their own yards without a mask. So like $1,000 fine. So when you're walking around San Francisco or Sausalito, on the city streets, you have to wear your mask, it is completely asinine. And the other thing that's asinine is that you can't eat in a restaurant, but like 10% occupancy, so they build the structures outside cuz you can eat outside. But the structure is basically this long wooden structure that's enclosed on three sides of the roof at about five feet tall. So I can sit in this tunnel of COVID. But I can't go sit in this building that's got a 35 foot roof, and it makes zero cents out there. So as I see it, thank God, you live in the south in South Carolina, where we have reasonable people who understand the risk of COVID but understand the non risk of COVID as well and allows your life to continue to go on. So I just found that to be one of the most interesting things that's ever happened to me on a kind of hiking trip. And that's the way gearing and now only Gary's good news only CNBC shows reported home supply could rise in the coming months as COVID certainly improves, and the great reshuffling continues Zillow president Susan dimer told CNBC news on Friday. What we know is that moving is on a lot of people's mind and we're imagining a lot of would be movers are going to come off the sidelines here. It's quite possible we see a bunch of listings Come on, and there's certainly enough buyers to scoop them up and stay in this place. Where are right now so that sounds good for our market. Ds news reports. According to a recent Urban Institute study that home affordability right refinance programs, proved to be highly effective tools for preventing mortgage defaults. More than 3.4 million borrowers from 2009 to 2018, took advantage of the refinance opportunities that provided housing wire says servicers total number of loans and forbearance, forbearance fell a whopping 24 basis point two 4.66% of the portfolio volume to one of the biggest drops in the history of the series. Mortgage professionals of America announced that mortgage credit availability inched higher in March according to their new figures from the Mortgage Bankers Association. The credit availability index rose by 0.6% to 120 5.4 in March, which the association said is indicative of loosening credit, which is also great. Now the Fed chief this week said that he believes that the economies pose for a strong economic growth and lower unemployment. However, he did say he didn't see any inflation and I don't know how you can spend money like a drunken college kid in Amsterdam and not have inflation but whatever. Now wanted to COVID Andrew Boston said a month ago, Oklahoma's governor said that removing all of COVID restrictions is what he was going to do. And the President of the State Medical Association said it was too soon and likely spiking the ball at the five yard line. Unfortunately for the Medical Association director, he was wrong hospitalizations are down 34%. Since that comment, when Texas and Mississippi announced they were lifting mass mandates, I think the comment was it was Neanderthal thinking. That's not exactly what happened. The reality five weeks later, hospitalizations are down and where they have mass mandate still in Michigan, New York and jersey. They're 164% higher than Texas and Mississippi. In fact, this has been such a phenomenon that nbc news which is unbelievable that Sam Brock actually said this, some states with stricter rules are now seeing surges in COVID-19 cases. While many others that rush to reopening are experiencing sizable drops, the numbers have experts scratching their heads. I'll tell you why because the experts have been pretty much wrong the entire COVID virus. Now as of as of 6am. On April the 10th, a total of 238 million vaccines have been distributed in the United States. 183 million had been administered at 77%. Additionally, 117 million people have received at least one dose 70 million people are fully vaccinated. That means 35% of the US population population has received at least one dose of the vaccine 21.3% are fully vaccinated. In South Carolina we have 7.5 million distributed and 5.5 million doses administered so we are getting it out there. As I mentioned earlier, I'm fully vaccinated and feeling liberated. So I hope everybody enjoyed Gary's good news only and that does bring us to the end of our show. We hope everybody enjoyed it and don't forget to like us to like us, subscribe to us and share us with any real estate agent friend you have also asked that you please go download my new book on my website Blair Cato calm and enjoy learning more about seller disclosure over everybody has a great weekend.