What Are Advantages Of Homes with Horses and Rural Real Estate? – Kristy Brooks
On this episode of The Closing Table, we sat down with Kristy Brooks!
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 Kristy Brooks…
The conversation began with a word association on purchase agreements, quit claim deeds, and more. Kristy presents herself as a diverse individual brimming with interests. She’s widely recognized for her involvement in the show horse industry, having traveled across the nation to showcase horses at the highest level, securing numerous national championships and prestigious awards.
Kristy’s reach encompasses a broad geographical expanse. Her primary sphere of service centers around Leslie, located just a 20-minute drive south of Lansing. Her coverage extends northward to St. Johns and eastward to encompass areas like Howell, Brighton, and Lyons. Within these regions, she caters predominantly to residential clients. However, her unique background with horses also positions her to handle rural and equestrian properties, necessitating her availability wherever clients require assistance due to the specificity of these properties.
Next, Kristy reminisces about her encounters with distinctive properties, often dating back to the 1800s. One particular instance stands out—a property featuring an old farmhouse equipped with an intriguing storm shelter. Positioned at the rear, an inconspicuous door in the ground reveals a set of concrete stairs descending into darkness. Despite the temptation to explore, the idea of entering gave her pause. Another memorable find was a property harboring a coal room still stocked with coals that had likely rested there for decades, evoking a sense of history and timelessness.
When asked about her experiences with challenging clients, Kristy emphasizes that as a real estate agent, her primary role is problem-solving. She understands that difficult or demanding clients often stem from unresolved issues or concerns. Her approach is to assist clients in finding solutions, even when they may not initially see one. To achieve this, Kristy goes beyond a one-size-fits-all solution; she offers alternative options (B and C) alongside the primary choice (Option A) to address client concerns comprehensively. She provides an example where clients, particularly those involved in farming, face the challenge of relocating animals without immediate occupancy. In such cases, Kristy proactively presents a range of options to alleviate their worries.
Reflecting on her early days as an agent, she recalls absorbing her clients’ stress, a common experience for newcomers to the profession. However, as with any job, experience brings improvement. Her extensive network within the horse and livestock industry has proven invaluable, allowing her to offer informed solutions. She points out that not all agents possess this specialized knowledge, which can complicate negotiations for clients with unique needs. Nonetheless, she underscores that learning is an ongoing process, and with the right brokerage, support is readily available to help agents navigate complex situations. Kristy speaks highly of Keller Williams, noting the brokerage’s excellent support and resources, expressing her intention to remain part of the team for the long term.
Addressing the topic of zoning regulations and land use restrictions in rural areas, Kristy underscores the significance of the variability in regulations across different townships. Each township has its own set of laws and zoning ordinances, particularly concerning the number of animals permitted on a property. Drawing from her extensive experience, Kristy mentions that she has established a close working relationship with nearly every zoning officer in lower central Michigan.
Her advice to both buyers and fellow agents is clear: it is the buyer’s responsibility to directly contact and verify the specific zoning regulations and land use provisions applicable to their desired property. While she strives to follow up and confirm information as a responsible agent, she highlights the importance of buyers taking the initiative to ensure that the property aligns with their intended use. This proactive approach, guided by local knowledge, simplifies her job and allows her to match clients with properties that meet their specific needs.
Discussing a situation where a property took longer than anticipated to sell, Kristy emphasizes that the primary factor causing such delays is often pricing. She clarifies that this isn’t always the fault of the agent, as some sellers remain steadfast in their desired price points. In the current market, where homes commonly fetch multiple offers above listing prices, she encountered a particularly challenging case. The property in question was priced a staggering $150k above Kristy’s recommended value. An agreement for a price reduction was in place after two weeks if the expected showings and offers didn’t materialize.
However, the seller postponed the price reduction for around a month. Even when the reduction was eventually executed, it fell significantly short of what Kristy deemed necessary, resulting in the property not selling. This ordeal left a sour impression between Kristy and the client. Subsequently, another competent agent took over, priced the property appropriately, and successfully sold it. This experience underscored the importance of holding firm on professional insights and established Kristy’s resolve to advocate for her expertise. With a decade of experience, she realized that her clients turn to her for a reason, reinforcing the necessity of assertively standing her ground.
Following that, Kristy recounts a recent closing that encountered last-minute communication hiccups with the title company, resulting in delayed funds for the seller’s payoff. The discrepancy led to confusion about the responsible party for the delay. Adhering to a problem-solving approach, Kristy was proactive in finding solutions to move forward. At the closing table, a sudden shift occurred where the escrowed amount differed substantially from the agreed-upon sum. The seller, unwavering, refused to proceed until the original amount was honored. Kristy supported her client’s stance and promptly engaged relevant parties to rectify the situation. Thanks to her efforts, the closing was only delayed by 30 minutes.
In another instance, Kristy encountered a unique scenario involving a tree falling through a garage just before closing due to a storm. Here, navigating the issue hinged on homeowners’ insurance. She details that the closing could proceed with the buyer and lender’s consent, with the seller’s insurance subsequently covering the repair costs, or it could be delayed to allow for the garage’s repair prior to closing. This situation demonstrated the significance of clear communication and adaptable problem-solving, as well as an awareness of insurance procedures in unforeseen circumstances.
Kristy then highlights the advantages of keeping livestock, such as horses, for homeowners, particularly when set up as a legal entity like an LLC. This arrangement opens the door to various cottage industries that can be operated within the legal framework required by the IRS. Drawing from her experiences, Kristy shares instances where she guided clients through the challenges and benefits of incorporating livestock into their property. These insights have proven valuable in helping clients find solutions to their unique needs and aspirations.
The conversation wraps up with Kristy identifying the most challenging aspect of the real estate industry: the constant demand for networking and availability, 24/7. While she genuinely enjoys her work and willingly invests long hours, she acknowledges the importance of setting boundaries. Over time, she has become more adept at establishing limits, typically turning off her phone around 7 pm, except when active negotiations require her attention.
She also delves into industry-wide challenges, notably lead generation and overcoming the stereotype of real estate agents as pushy or untrustworthy, a perception often rooted in negative past experiences with agents. Kristy takes pride in positioning herself as a real estate consultant, focused on guiding and assisting clients in achieving their real estate goals, whether they involve buying, selling, or investing. She emphasizes that she genuinely cares about her clients’ success, regardless of whether they purchase a property or not. Kristy further points out that for new agents, lead generation can be a prolonged process, requiring months of effort before securing significant business. It’s a lesson in patience and the need to play the long game in the industry.
Check out Kristy Brooks:
Facebook: https://www.facebook.com/kristy.rulison
Facebook Business Page: https://www.facebook.com/kristybrooksrealestate
Instagram: https://www.instagram.com/kristybrooks.michiganrealtor/
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