In some ways, the world is in 2020 and the real estate industry is in 1990. Lynn Leegard, the President and Co-Founder of TrustFunds is on a mission to change that with electronic earnest money transactions so we can finally ditch paper checks for good. Listen in to hear her inspiration for starting TrustFunds and learn why likeability and trust in an agent are more important than their ability to catch buying signals. 

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Time Stamped Show Notes

• 01:00 – Introducing Lynn, a real estate attorney, broker, developer, and the president and co-founder of TrustFunds, a company that makes the earnest money process electronic
  • 01:30 - She’s been in the industry for 35 years
  • 02:20 - She sold real estate for 4 years, then went back to law school
• 03:05 – Her business
  • 03:10 - She saw the frustration in the market because of paper checks; she created TrustFunds and now they do electronic earnest money
  • 04:20 - The industry had already figured out electronic documents and signatures, it’s only natural that the next progression would be electronic checks
• 05:10 – Millennials are used to technology but most REALTORS® are an average of 56 years old; there’s a generational divide
  • 06:20 - TrustFunds is simple and easy; they’re integrated right into the MLS
  • 07:45 - Ask your REALTOR® or MLS about it
• 08:15 – Lynn’s CSIRE story
  • 08:20 - Once you’re in the industry, it’s hard to leave; Lynn loves it and enjoys the challenge and variety it provides
  • 09:35 - You never have all the answers; you just have to jump in and do it
  • 10:15 - She had a top executive as a client, they looked at several townhouses, and he was giving her buying signals that she was totally missing
  • 11:00 - It wasn’t until he said, “I think this is where we write the purchase agreement” that she caught on
  • 12:00 - The client stuck with her because he liked and trusted her; people buy from people they like
• 12:20 – Lessons
  • 12:30 - Support is good in life
  • 12:35 - Likeability is important
• 13:05 – Another story
  • 13:10 - 30 years ago, when she brought her husband home when they were dating, her dad said, “I think this is who we’ve been waiting for.”
• 13:50 – How to reach Lynn: TrustFunds website, or Facebook

3 Key Points

1. Technology is a beautiful thing!
2. The industry always provides variety and challenge. 
3. People buy from people they like and trust. 

What’s the deal with title insurance? Brent Saunders, the Business Development Manager for PM Title in Columbus, Ohio, breaks down the difference between standard and enhanced title insurance and why you need it. Listen in to hear the stories of when he got chased off church property and awkwardly stuck between a fighting husband and wife.

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Time Stamped Show Notes

• 01:00 – Introducing Brent, the Business Development Manager for PM Title in Columbus, Ohio - the fastest-growing title company in Ohio since 2015
  • 01:15 - They help agents and have a videography team, a social media team, a podcast, and more
  • 02:10 - Agents don’t have to disclose how they leverage their vendors and resources; he’s okay with agents taking all the credit
• 04:30 – Standard vs. enhanced title insurance
  • 04:48 - There are three basic formed of title insurance: lender’s policy, homeowner’s policy, and an owner’s policy
  • 05:00 - You pay a premium in case there’s a problem like any other insurance product, but it also covers any problems that have already happened
  • 05:50 - Lenders typically require a lender’s policy to protect their assets and investment
  • 06:20 - Owner’s and homeowner’s policies protect against a claim; in the Columbus market, they require the enhanced policy
  • 07:00 - The enhanced policy is 15% more expensive and appreciates with the property
• 08:00 – On getting an enhanced policy if you already have a standard one
  • 08:15 - He’s not sure if you can switch; he’ll ask his attorney
• 08:50 – Brent’s CRIRE story
  • 09:10 - 3 years ago, they hired their first videographer; an agent needed a video of a church that was a total wreck
  • 09:45 - They couldn’t get into the property and tried the back door; the next-door people started screaming at them
  • 10:30 - A guy comes out and starts screaming at them, calling them slum lords, and saying their kids keep getting hurt on the roof
  • 10:50 - They let their 100-pound dog out; they decided just to do exterior shots and leave
• 11:50 – Lessons
  • 12:10 - Protect yourself and your staff. Photo/video isn’t worth your safety
• 12:30 – Another CSIRE story
  • 12:35 - Dower Law: When you get married, your spouse owns an interest in your property
  • 13:20 - You can’t buy or sell a property without your spouse’s signature in some states
  • 13:40 - He had a client who said his wife was going to show up to sign off on something; when she shows up, they start getting into an argument
  • 13:55 - She said she wasn’t going to sign, they went back and forth; she brought legal documents, too, and asked him to sign hers and she would sign his
  • 15:00 - Brent didn’t ask and didn’t want to know what her documents were all about
• 15:10 – Lessons
  • 15:15 - It’s awkward to be in the middle of a couple fighting
  • 15:40 - Don’t get in the middle of a couple’s fight and don’t be nosey
  • 16:30 - Maybe your dog could protect you when you’re out and about
• 17:00 – How to reach Brent: the PM Title website; they are connectors, happy to help, and go above and beyond 

3 Key Points

1. Leverage your resources! 
2. Protect yourself.
3. Don’t get in the middle of a spousal fight!

Have you yet to experience the power of video? Well, you better hop on the bandwagon because if you haven’t noticed, video is the way of the future. Jeff Turner, an entrepreneur and consultant, had a terrible experience when selling his own home which led him to see a serious gap in the real estate market. Listen in to hear what he did about it and why video really ain’t so bad. 

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Time Stamped Show Notes

• 01:00 – Introducing Jeff, an entrepreneur-in-residence with Second Century Ventures; he also consults real estate start-ups and is working with another start-up
  • 03:20 - He has six kids; his 14-year-old daughter is hooked on The Office and so is Leigh’s son
• 06:00 – Jeff’s CSIRE story
  • 06:10 - It’s the reason he got into real estate technology; he helped revolutionize newspaper advertising with a previous company and sold it
  • 07:15 - For Valentine’s Day in 2002 he took black and white photos from his wedding and made a video for his wife
  • 07:50 - In the parts where there were no people, the photos looked like video; he went into the hotel business then residential real estate for video
  • 08:50 - They wanted to sell their house; he was recommended an agent and hired him; the agent wasn’t very good and only said to take one picture
  • 10:50 - Jeff said he’d take the pictures and create a virtual tour; the agent never put them up online and didn’t create a flyer
  • 11:45 - Jeff made his own flyers and did his own open house; they were all there because of the video
  • 13:30 - A couple makes an offer to his agent, he ends up negotiating against his own agent and it was a terrible experience
  • 14:35 - He dropped doing hotel shows because he saw that the real estate industry needed some help
• 18:00 – Lessons
  • 08:10 - Don’t be lazy; don’t just think “the house is gonna sell anyway”
  • 19:10 - Agents miss the opportunity to serve people better; it’s not about the house selling, it’s about serving people, customer service, and the right process
  • 20:30 - The arguments haven’t changed in 17 years; the coronavirus is helping the industry move into more digital and video
  • 22:15 - Video isn’t as scary as people think and they’re finding that out now
  • 24:00 - Good agents will get better during this time
• 24:45 – Where to find Jeff: Twitter or email jeff@jeffturner.com 

3 Key Points

1. Every profession has mediocrity. 
2. You can fire a bad agent. 
3. If you don’t like it, fix it yourself.

Want to know why it’s so important to get a home inspection? Let Daniel Smith, an author, speaker, and strategist, tell you the story of when someone tried to sue him for nondisclosure. Listen in to learn why honesty is the best policy, what agents do that’s so valuable, and what can happen when dishonestly comes back to bite you in the ass.

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Time Stamped Show Notes

• 01:00 – Introducing Daniel, he sold real estate until 2007, then sold his business
  • 01:50 - He started speaking, writing, teaching, is a principal broker, and married a broker
  • 02:40 - He enjoys working with real estate professionals
• 03:15 – Dan’s CSIRE story
  • 03:20 - He’s in California, which is a very litigious state; he was sued 7 times and won all the ones he went to court for
  • 04:20 - The first one was the most memorable; his broker and owner were livid and he was in his mid-20s
  • 05:10 - He ended up going to court for non-disclosure; they wanted enough money to pay for the house
  • 07:25 - The home inspector saved the day; he showed pictures proving Daniel’s case and the judge dismissed all charges and dropped the case
  • 07:55 - The homeowners were trying to game the system and cut the support beams under the house; they got caught and messed up their own home
• 08:40 – The lessons
  • 09:05 - There are sketchy people out there
  • 11:10 - You need a home inspection
  • 11:30 - As a seller, be honest; as a buyer, do your due diligence and be honest
  • 13:30 - Virtual operations may change things because of COVID-19
  • 14:30 - REALTORS® are necessary and agents are valuable; just using an app isn’t enough
  • 16:40 - Urbanites are running for the hills because they aren’t limited by location anymore
• 18:05 – How to reach Dan: his website, Facebook, Instagram, and Twitter 
  • 18:45 - He might be on TikTok soon; he’s fighting it, though

3 Key Points

1. Tell the truth.
2. Get a home inspection.
3. As a REALTOR®, it’s not your job to fill out the disclosure.