Podcast: Crazy Sh*t In Real Estate TM

Crazy Shit In Real Estate

Summary:

If it’s not icicles inside a flooded house it’s a tricky sale with a prejudiced client! Bill Hamburg, a REALTOR® in both Pennsylvania and New Jersey, is back on the show and ready to share another story and some more crazy shit. This time around, he’ll share how he talked someone with a “For Sale By Owner” sign to let him list their property – not without some hiccups, of course! Tune in to hear how Bill marketed a house on a highway, handled a prejudiced client, and overcame a failed septic inspection.


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Time Stamped Show Notes:

  • 00:30 –Bill’s last CSIRE story: “The Icicle House”
  • 01:30 – He went to a property and heard a “waterfall”
  • 01:50 – Water was gushing from the second floor onto the first from a broken pipe; it was February, the owner had left the water on and there were icicles everywhere
  • 02:20 – Introducing Bill; a REALTOR® out of Horsham, PA who is associated with both RE/MAX and Keller Williams
  • 03:15 – They started with Keller Williams but a few years ago it made sense to switch over to RE/MAX; in New Jersey they’re new, so they’re still with Keller Williams
  • 04:50 – Bill’s CSIRE story
  • 05:00 – In 2007 when he was in the business for a little over a year, he saw a “For Sale By Owner” sign
  • 05:55 – Realtors know contracts and keep their clients out of court; FSBO sales are tricky and can be difficult
  • 07:00 – Bill called the number on the sign and the man said he didn’t need a realtor; Bill convinced him to let him see the house to diagnose why it wouldn’t sell
  • 07:35 – He was trying to sell during the downturn; the house was in a good address and was a rehabbed home
  • 08:12 – The guy was asking $300,000 but it was too high and on a highway; Bill offered some marketing ideas to improve his chances of finding a buyer
  • 09:10 – He talked the guy into letting him list the property and he listed it for $315,000; he got showings and an offer
  • 10:40 – The man said he couldn’t sell the property to that person; the septic system failed inspection and the buyer was coming back for repairs 
  • 12:00 – The agents were the ones who should manage expectations and get the transaction to close
  • 13:05 – In the end it worked out; he didn’t really care who moved in 
  • 13:35 – If the house had been sold FSBO, it would’ve been sold with a failing septic system; this raises concerns of the law
  • 13:45 – The lesson
  • 14:00 – It shouldn’t matter who buys your house; all that matters is if the money’s green
  • 15:00 – A REALTOR® is there to mediate the transaction and ensure everything is done properly and fairly


3 Key Points

  1. For Sale By Owner is not a good idea!
  2. It shouldn’t matter who’s buying the house. 
  3. The job of a REALTOR® is to facilitate a smooth transaction and keep the clients out of court.


Credits

Crazy Sh*t In Real Estate #169: Bill Hamburg

Aired on:
October 10, 2019

If it’s not icicles inside a flooded house it’s a tricky sale with a prejudiced client! Bill Hamburg, a REALTOR® in both Pennsylvania and New Jersey, is back on the show and ready to share another...

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