How A Realtor Handles Market Changes & Difficult Clients – Garrett McCraight

On this episode of The Closing Table, we sat down with Garrett McCraight!

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 Garrett McCraight…

The conversation began with a word association icebreaker on escrow, amortization, and more. Garrett introduces himself as a devoted father of two daughters, always prioritizing family time alongside his work commitments. Recently engaged, he’s excited about the future. Outside of real estate, he enjoys spending any spare moment with his girls, cherishing every moment he can.

Garrett’s office is situated in Livingston County, specifically in Brighton. While he occasionally works in the area, he also covers a broader geographical range, primarily in southeast Michigan, including notable places like Monroe. In his business, Garrett values integrity and works with clients of varying price points. He believes in helping anyone who is happy and honest, regardless of their budget, ensuring they achieve their real estate goals.

The two then talked about the event called, “How NOT to Go Broke in Real Estate in 2023”. Garrett shares that the event was designed to benefit real estate agents, offering them valuable insights on how to thrive in the ever-changing real estate landscape of 2023. Garrett, as part of this event, had partnered with a marketing company that implemented lead generation programs for real estate agents. He successfully tried out these programs and later took on the responsibility of building a sales department for the marketing company while continuing his work in real estate. The event was recently sponsored by Garrett and his partners, where he not only shared his experience with the marketing company but also provided knowledge and strategies to help agents grow their businesses effectively. While specific event frequency details were not mentioned, it’s evident that it offered a platform for agents to learn, network, and stay ahead in the competitive real estate market of 2023.

When asked about the weirdest thing he has seen at a property, Garrett recalls a memorable listing experience. During a photoshoot for the property, they stumbled upon a surprising item – a spanking table. They were taken aback that the homeowner hadn’t chosen to hide it, considering photographers and realtors were scheduled to visit the property. It was certainly an unexpected and unusual sight during a typical real estate assignment.

Garrett then reflects on one of the most challenging transactions he encountered recently. A young couple, emotionally attached to their current home, had a strong desire to move into a house with a yard for their son. However, they were stuck in a complicated situation with a cooperative housing arrangement that could only be sold for cash. Finding buyers for such properties can be quite challenging, almost feeling like a trap. Nevertheless, they found a house in Taylor that was about to go through a short sale.

The seller of the new home they wanted to buy experienced numerous hurdles, including insurance and probate issues, which made the process even more challenging. Despite these obstacles, Garrett assisted them in navigating through the complexities and securing the new home, making all the necessary fixes along the way. It was a heartwarming journey for the young couple, finally moving into a place they could call their own.

Following that, Garrett acknowledges that real estate transactions can be an emotionally charged experience for clients, as it involves their most significant asset and financial investment. He understands that some clients may be demanding, and his role is to keep their hopes up throughout the process. He recognizes that hiccups and challenges are part of the job, and his focus is on maintaining professionalism and ensuring a positive outcome for all parties involved.

While he can handle mistakes and obstacles, managing the emotional roller coaster with clients can be one of the hardest aspects of his job. However, he commits to riding that journey with them, supporting them, and keeping everyone afloat during the sometimes turbulent process. At the same time, Garrett emphasizes the importance of honesty and integrity, ensuring that he never compromises his professionalism or jeopardizes his license for any client, regardless of their demands.

When asked about mediating conflicts between neighbors during property transactions, Garrett explains that conflicts can arise, but his role is to help people see the other side and understand each other’s perspectives. While he hasn’t encountered anything too extreme, there was one incident where the purchase of an 800k property was jeopardized due to a heated encounter with a neighbor. The potential buyers were considering installing a pool, and when the neighbor reacted negatively and rudely, the buyers decided to back out.

Next, Garrett admits that open houses have been less common since the pandemic hit, as he shifted his focus to cold calling for generating leads. He recalls a past experience where he hosted an open house as a favor for a friend, and it led to a successful business relationship with a couple who purchased a property in the low 500k range. Although open houses have taken a backseat for him lately, he acknowledges their potential for networking and forming valuable connections.

The conversation wraps up with Garrett sharing how he would approach homeownership looking at today’s market and resources. He shares that he would seek out a house in need of work rather than a turnkey property. He believes that turnkey homes often come with inflated prices due to high demand, appraisal guarantees, and overpaying. Instead, he would opt for a fixer-upper that is less sought after, allowing him to purchase at a reasonable price without overpaying. By investing in such a property, he could increase its value through renovations and potentially make a profit when selling in the future.

Garrett also mentions his experience of building a home with his brother-in-law during the pandemic, where they learned valuable skills while seeking professional assistance. While he currently prioritizes other aspects of his life, he still believes that buying a home in need of work and adding value through renovations is a smart approach in the current real estate market.

Check out Garrett McCraight:

Facebook: https://www.facebook.com/garrett.mccraight

Facebook Business Page: https://www.facebook.com/gmccraightkw

Instagram: https://www.instagram.com/garrettmccraight/

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