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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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Texas Real Estate Bible Podcast
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Now displaying: Category: General
Dec 10, 2018

Wire fraud rears its ugly head and strikes one of Karen's clients.

Oct 17, 2018

Karen and Kevin dive deep into the dark underworld of property taxes when they uncover shenanigans being played by a new home builder aimed at increasing the tax assessments on houses that had already been sold.

After enlisting the help of a local journalist, they end up face to face with a surprisingly helpful representative of the Harris County Tax Office.

Aug 12, 2018

Where have we been?  That's a good question.  Listen to this episode to find out what caused our long break from the show and what you can expect for the future.

Dec 9, 2017

It's been a long time since we published our last episode.  Too long.  In today's episode we catch you up on the series of unfortunate events that have kept Karen and Kevin away from the mics for so long.

 

Sep 27, 2017

Karen closed on a transaction she's been working on for quite some time, and shares the ups and downs of the transaction.  Listen as she shares the blow by blow of the negotiation and how it played out.

Having an agent who will negotiate hard for you and protect your negotiating position is crucial, and so many agents throw their clients under the bus in the hopes of closing the transaction quickly.

Sep 7, 2017

In this supersized episode, we talk about what we did leading up to and in the aftermath of the arrival of Hurricane Harvey.

I don't think we need much more of an introduction than that.

Aug 9, 2017
When it comes to pricing your home, the market really, truly doesn't give a shit about two things that are probably really important to you as a seller:

 * What you owe on the house
  * How much cash you expect to get out of the sale (for whatever reason)

We opened this episode chatting about the state of the market in Houston, and why it's not going down as many people believe.  In fact, recent sales figures for the overall market seem to indicate that the market is still strong, with inventory still below the level of what is considered a "balanced" market.  That means if your house isn't selling, it's not because of a poor marketing job, it's probably because it's priced too high for the location and condition.
Many people have an idea on their heads about how much money they expect to put in their pockets after their home is sold.  Typically, this number is influenced by how much they owe on their home, how much money they need for their next house, or just flat out what the homeowner thinks it's worth.
The reality is your buyer doesn't care.  Your buyer doesn't care how much your mortgage is, or how much money you need for your next down payment, or what you think you should get.  All the buyer really and truly cares about is whether or not they are willing to pay what you're asking.  If not, your house isn't going to sell, no matter how much righteous indignation you feel.
Your agent's job is to be an expert in the process of selling the home; To keep you out of trouble; To make sure all of the moving pieces fall into the right places at the right time; And yes, to make sure your home sells for as close to the contract price as possible.
Jul 19, 2017

This week, we rebroadcast for you our mutual favorite episode, our rebuttal to the Adam Ruins Everything episode on real estate.

Since Kevin is traveling internationally, we are broadcasting this "best of" episode from our archives.  

We will return next week with a new original episode.

Jul 12, 2017
Are you a police officer, fire fighter, teacher, or EMT?  If so, you qualify to get your house for 50% off of list price by buying it from HUD!
 
This week, we explore a source of potential homes and investment houses that most people don't normally think of.  The US Department of Housing and Urban Development, or HUD for short.
 
When a bank forecloses on a loan that has been guaranteed by the Federal Housing Administration, the government makes the bank whole and the house ends up in the inventory of homes owned and offered for sale by HUD.  If you'd like to browse the properties they're selling, you can find them all at www.hudhomestore.com.
 
Keep in mind though that you have to submit your bids through a licensed agent, and if your bid is accepted, you have very little wiggle room as all sales are "as-is, where is".  For this reason, we recommend that you lowball your offers.  If you don't hear back within 1 business day, you know your offer was rejected and you can resubmit a new bid if you like or move on to another house.
 
Jun 28, 2017
David Letterman had a recurring segment on his show called "Stupid Pet Tricks".  Similarly, we are introducing "Stupid Agent Tricks" as (probably) a recurring topic on the show.  In the episode, we discuss some of the "sinners" we've run in to recently.
 
We talk about the latest abomination from the brokers, gurus, and sales coaches who think the BINGO card pictured here is a great way to motivate their agents to do something they hate - make cold calls.  Can you imagine yourself *hoping* to get cussed out on a sales call just so you can win this game?
 
We also talk about one recent example of agents we both encountered in the past couple of weeks who don't know the rules of the industry in which they operate.
 
Finally, we explore some of the ridiculous lengths that Karen has had to go to keep her deals from falling apart because of lazy/incompetent agents on the other side.
Jun 1, 2017
When we were homebuyers, it was irritating to us that our agent wouldn’t answer certain questions that we thought were perfectly reasonable. Now that Karen is an agent, we know exactly why he wouldn’t provide direct answers to what we thought were simple questions. Questions like:
  • “What are the demographics in this area?”
  • "How are the schools here?”
  • “What are the crime statistics of this neighborhood?”
  • “Is there a church nearby?”
  • “Is this a nice neighborhood?”
If an agent were to provide a direct answer to any of these questions and others like them, they would be putting themselves at risk of running afoul of the Fair Housing Act, which prohibits discrimination in housing based on race, color, sex, national origin, or religion. The best your agent can do is to provide you with places to do your own research and answer these questions for yourself. It’s unfortunate, but this is what your friendly neighborhood real estate agent has to do to stay on the right side of the law!   itunes-button-300x109 stitcher googleplaybadge
May 18, 2017
This past week, Karen was down for the count with a stomach bug.  As a result, Kevin pulled double duty with the kids so Karen could just be sick.  For this reason, we had completed zero preparation for the show, but we are committed to (not just interested in) releasing something every week, so we hit record and went with it. Our conversation took a few twists and turns, but we ended up having what we thought was an important and meaningful discussion about an autoimmune disorder that our family is about to start dealing with.  Yes, this podcast has "real estate" in the title, but not every episode has to be about real estate.  This podcast is also about the people behind the microphones and our real, actual lives. We hope you enjoy and can connect with us as we share our challenges with you.  Don't worry, it's not all heady content, we also discuss our upcoming plans to return to the Houston Roller Derby and our kid's participation in her swim team. itunes-button-300x109 stitcher googleplaybadge
May 3, 2017

While this podcast is primarily focused on real estate, we do take time to tell stories about our lives from time to time.  In this episode, we share the struggles we have had this year with our kindergartener dealing with a bully at school.  We thought it would be helpful to share this story if for no other reason than to give other parents the benefit of our experiences, and some things to look for with your own kids.

We also chatted a bit about Karen's new fitness regimen, which she's having great success with, and we take a moment to celebrate Kevin's latest flag football adventures in his work league.

 

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.

Feb 22, 2017

The topic of inspectors has come up in past episodes, so we thought we'd delve a little deeper into the topic with this episode by sharing the top 10 issues that come up during inspections.

After hearing this episode, you will understand the great benefit an inspector brings to the table.

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