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Texas Real Estate Bible Podcast

Everyone has a real estate story, and this is the podcast that gives you the information you need to keep your story from becoming a horror story! Join Houston based agents Karen and Kevin Scott as they share stories (some of them cautionary tales) of the real estate industry in Texas. Funny, irreverent, and real, Karen and Kevin bring their own style to the show and share with you their perspectives and experiences in this sometimes crazy and other times shocking industry. You can reach the hosts by calling 832-559-0480.
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Now displaying: April, 2017
Apr 26, 2017

Most people are familiar with the idea of crowd funding.  Sites like Gofundme.com and kickstarter.com have helped some really great ideas get off the ground and brought in to reality.

This week, Nathan Roach, the CEO of MassVenture.com explains to us how the laws in Texas have recently been changed to enable a crowd funding spin to be applied to real estate investing.  Through the platform, individual investors can invest as little as $500 in the projects they have curated for their members.

Apr 19, 2017

This week we sit down with Don Leonard.  Don has been in the real estate industry for 34 years, giving him a wealth of knowledge and expertise in real estate.  Don has hosted two radio shows in Houston about real estate, currently teaches at the Champion's School of Real Estate, and has had his own broker's license for 18 years.

Don sits down with us this week to swap war stories and offer some advice on some specific questions Karen has about a deal she's currently working.  Don also shares with us some of the details of a coaching program he is hosting entitled the Nature of Real Estate.  If you're an agent looking for a different way to do business than cold calling, door knocking, and publicly begging for business, then you're listening to the right podcast, and you should consider this coaching program.

Apr 12, 2017

Just imagine it:  You wire your money to the title company as instructed the day before you buy your dream home.  You show up to closing, and they ask you, "Where's your down payment?"  You think this must be some kind of silly joke, so you say, "You mean the massive wire I sent you yesterday wasn't enough?"

"Wire?  I checked a few minutes ago, and we didn't receive a wire from you, but I'll go double check."  The serious look on the escrow agent's face tells you this isn't a joke.

"Yes," you say, "I sent it to the updated account you asked me to use via email yesterday."

"... I didn't send you any updated wire instructions yesterday."

After a few eternal minutes of double checking both on your end and on the title company's end, it's clear that you did indeed send the down payment, but you did not send it to the title company.  Instead, you sent it to an overseas thief who has now disappeared with your money.  How could this happen?

This has been a growing problem in the real estate industry that was highlighted by ABC news station KOMO in Seattle.

  1. The scammers first target real estate agents and attempt to gain access to their email accounts.  Agents are great targets because their email addresses are readily available online, and there's a very high likelihood that if an agent gets an email from someone that says, "I'm interested in hiring you to represent me in the purchase of a home, please click this link for listing details", they're probably going to click on it.  The problem is, clicking on the link gives the scammers control of the agent's email account.
  2. They then monitor the traffic in the account by checking it regularly or setting up a rule to automatically forward a copy of every email to a different account controlled by the scammer. (When was the last time you checked your auto-forward settings?)
  3. With the information that passes back and forth on their deals, the scammers can construct a pretty clear picture of the transaction:  When it is taking place, how much money the buyer is bringing to the table, and what title company is being used in the transaction.
  4. Armed with these details, the scammers, posing as the title agent, send an email to the buyer the day before the transaction is supposed to close, providing them with a new account to which they should send the money.  The email looks legitimate because it contains all the details of their transaction, so many people act on them, unwittingly sending their down payment money to overseas thieves.

What can you do to prevent this?

As an agent:

  • Don't click on links or open attachments from unknown sources.
  • Change your email password regularly
  • Check your email forwarding settings regularly

As a consumer:

  • Bring your funds to closing with a Cashier's Check OR
  • (Here's a little tough love for you) Before you send a wire, pick up the damn phone and call the title company to verify that you have the correct information.
  • Never, EVER act on "updated wiring instructions" without confirming via a PHONE CALL.

Don't get screwed, friends!

Apr 5, 2017

If you want to know what Phil Dunphy, roller derby, and dental work have in common, listen to the show this week.

Customer service seems to be a dying art in our increasingly digitally connected, yet personally disconnected world.  Kevin and Karen talk about some recent customer service experiences they've had to illustrate why excellent customer service is one of the single most important ingredients to a successful real estate transaction.

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