Protecting Your Assets In Real Estate – Renee Crynick
On this episode of The Closing Table, we sat down with Renee Crynick!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Renee Crynick…
The conversation began with a fill-in-the-blank icebreaker on what the real estate industry will be in 10 years, the key to longevity as a realtor, and more. Renee then introduces herself as a solo mom with a blended family, a widow warrior, and a community advocate. She is highly committed to serving the metro Detroit area, primarily try county.
When asked about the role of the real estate industry in revitalizing the city, Renee emphasizes the importance of flipping and fixing low-priced houses to create beautiful homes and improve neighborhoods. She notes that the city, along with several groups, has implemented grant programs to support these efforts, resulting in new parks, basketball courts, coffee shops, and an increase in the number of residents.
As part of her contribution to this effort, Renee collaborates with officials, investors, and lenders to promote affordable housing, creditworthiness, and down payment assistance programs. Her extensive knowledge of these programs helps to inform people about the available opportunities, enabling them to invest in their communities and contribute to the city’s revitalization. Additionally, she is involved in ensuring that the properties are fixed up, adding value to both individual homes and the surrounding areas.
In light of the constantly evolving real estate industry, Renee’s ability to grasp new concepts and techniques is a crucial asset. When asked about the new strategies or technologies she is currently exploring to better serve her clients, Renee highlights the importance of technology as a tool for providing updates on home value, refinancing, and other pertinent information. However, she notes that while technology can help streamline processes and marketing efforts, the rapport and trust built through face-to-face interaction is invaluable. Therefore, Renee emphasizes the continued importance of relationships in the industry and being able to interact with clients “belly to belly.”
Renee sponsored an event called “Protecting Your A$$ets,” which aimed to educate attendees on the importance of end-of-life planning, new families, and protecting hard-earned assets. During the event, attendees were presented with key points regarding different types of deeds, power of attorneys, and wills vs. trusts. Renee notes that the aha moment for most people was the realization that they need to be prepared for the unexpected. She shares a personal case study about how her husband passed away, but they were prepared because his life insurance was filled out on her desk. However, she emphasizes that she does not want others to go through what she did and stresses the importance of protecting assets through various means, including power of attorneys, trusts, and insurances.
Renee also explains the different types of deeds, including quitclaim deeds, warranty deeds, and ladybird deeds, and emphasizes the importance of transferring ownership through a warranty deed to ensure that the owner has the authority to do so and to avoid any tax or mechanical leans on the property. She explains that the power of attorneys comes into play when a person is incapacitated due to illness or absence.
Additionally, Renee highlights the difference between wills and trusts, explaining that while wills outline an individual’s wishes, they still have to go through probate. Trusts, on the other hand, allow individuals to protect their assets from probate and have someone they trust in charge of distributing their assets. Finally, Renee notes that living trusts can be changed and altered, and they are not expensive, contrary to popular belief that a will is all someone needs.
Following that, Renee shares the several certifications that allow her to provide specialized services to her clients. For instance, as a Resort and Second Home Property Specialist, she can assist clients looking for investment properties by providing them with tailored advice based on their specific needs and preferences. In terms of selling strategies, Renee shares a story about a time when a client’s home struggled to sell due to personal items and clutter. Despite her best efforts, Renee was unable to help the client stage and declutter the home. Instead, she suggested selling the property to an investor, which turned out to be the best solution for the client.
The conversation wraps up with Renee emphasizing the importance of curb appeal to make a great first impression on potential buyers. Simple actions such as painting the front door and adding flowers can make a significant difference in making a home feel more welcoming and attractive to buyers.
Check out Renee Crynick:
https://www.facebook.com/ybrenee
https://www.facebook.com/ReneeCrynickRealEstateandRealLife
https://www.instagram.com/realestateandreallife/
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