Podcast: Crazy Sh!t In Real Estate TM

Crazy Shit In Real Estate

Summary:

Here’s a riddle: When would a buyer question the valuation of a seller’s house due to damage they did to it themselves? …When it’s a daughter buying from her parents! Jerry Cibulski, a realtor living the life on the North Fork of Long Island, will never forget when he found himself in the middle of a family sale. Tune in to hear how Jerry handled his family members while managing everything behind the scenes, and why he believes family members are best referred elsewhere.

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Time Stamped Show Notes:

  • 00:30 – Introduction
  • 00:40 – Jerry is a Southold real estate agent with Century 21 Albertson Realty; there are lots of vineyards, vacation properties, and beautiful homes
  • 1:10 – Everything is interconnected to create a food, entertainment, family, and sharing experience
  • Jerry’s CSIRE story
  • 02:45 – His parents thought about moving back down to FL but changed their minds; they went down to Bradenton, FL to visit family and he gave them their home’s value
  • 03:25 – He called them and turns out they found a house, put money down, and needed to close in 90 days, which means a buyer would’ve needed to contract that day
  • 03:37 – They said that his sister could buy it and they needed his help to figure out how
  • 04:00 – 3 months later, his dad is saying “shit or get off the pot” and his sister is rethinking the valuation of the home due to a hole in the door she kicked as a teenager
  • 04:50- People don’t know what is going on behind the scenes; there are so many nuances to working within guidelines, especially in unique situations
  • 06:15 – He also helped his sister sell her house and had to walk her through the appraisal process
  • 07:12 – His sister learned from experience; to get the best interest rate she called her mortgage rep every day until she liked the rate
  • 08:00 – When she was ready to purchase and move forward, the perfect home in FL showed up and the timing connected
  • 08:30 – Her parents love their new house and community
  • 09:05 – After going through everything herself, his sister understands the process much better
  • 09:35 – Jerry’s thoughts about representing family members
  • 09:48 – You’re better off referring them to someone else; you’re too close to it
  • 10:15 – Being a seasoned agent, you need more experience and explaining
  • 11:00 – You can set up a team in other places and refer your family to them

3 Key Points:

  1. There are so many nuances to working within guidelines, especially in unique situations.
  2. Refer family out to other realtors in your network to save the headache and build your team.
  3. People don’t know what goes on behind the scenes in real estate – do what you can to educate them.

Credits:

Crazy Shit In Real Estate Episode 114: Jerry Cibulski

Aired on:
April 30, 2018

Here’s a riddle: When would a buyer question the valuation of a seller’s house due to damage they did to it themselves? …When it’s a daughter buying from her parents!

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