Are Real Estate Agents Also Therapists? – Shane Carnagie

On this episode of The Closing Table, we sat down with Shane Carnagie!

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 Shane Carnagie…

The conversation starts with a word association icebreaker on landlords, real estate attorneys, and more. As an agent who serves the metro Detroit area, Shane understands that buying or selling a property can be an emotional experience for clients. He often compares the role of realtors to that of therapists or psychologists. He also recognizes that everyone experiences the process differently and it can cause strain on one’s mental health. Hence, he makes it a priority to be more than just an agent but also a friend and support system to his clients.

Shane then shared an example of a client who had previously signed a 3-month contract with another agent. Unfortunately, the agent did not properly market the client’s home, causing frustration and disappointment. In situations like these, clients may choose to switch listing agents. However, it is important to carefully review the contract as some brokerages or agents may charge a fee for doing so.

Next, Shane discusses the impact of rising mortgage rates and home prices on the monthly mortgage payments of his clients. According to NAR, the monthly mortgage payment is higher by $330 in Wayne County compared to the previous year. To manage this increased cost, Shane employs various strategies, such as negotiating closing costs and discussing budgetary restrictions with his clients. His goal is to minimize extra costs and fees to ensure that his clients are not financially burdened.

During discussions about owning a home, the concept of asset vs. liability may arise. Shane explains that owning a home can be a liability if the property requires more work than anticipated. It is necessary to ensure that a home is structurally sound, especially if it is an older property, to avoid unexpected costs. On the other hand, owning a home can be an asset if it is a sound investment that provides a return on investment. This is particularly beneficial compared to renting, where the money goes towards making landlords wealthy rather than building equity for oneself.

The two then talked about how discrimination in the housing market continues to be a prevalent issue, with both potential and successful home buyers reporting facing such discrimination during the home-buying process. To address and prevent such discrimination, Shane points out that real estate agents undergo comprehensive training and classes on housing discrimination and are prohibited from practices such as steering, which involves showing clients homes located only in areas where residents look like them. He emphasizes his stance against discrimination and ensures that even his clients are not part of such practices.

Shane then talked about his brokerage, Social House Group, investing 1/3rd of the commission received from selling a property back into advertising the client’s home. This is important to inform clients about as they have been successful in dominating Facebook marketing and providing excellent service to clients. They invest in quality listing photos, videos, and Facebook ads to ensure maximum outreach, resulting in higher prices and quicker sales. Shane wants his clients to know that they are receiving the best marketing possible.

The conversation wraps up with Shane addressing the importance of a final walkthrough in finalizing the sale of a home, and it is recommended to be done 48 to 24 hours before closing whether you are getting occupancy or not. This step is important because it allows the buyer to ensure that the property is in the same condition as when they made the offer, requested repairs have been made, and no damages occurred to the property.

Check out Shane Carnagie:

https://www.facebook.com/shane.carnagie

https://www.instagram.com/shane_socialhousegroup/

https://www.facebook.com/shanecarnagierealtor

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