How Do I Know If My Title Company Made A Mistake In The Title Commitment? – Williams Proulx/Hannah Olechowski
On this episode of The Closing Table, we sat down with Williams Proulx and Hannah Olechowski!
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 Williams Proulx and Hannah Olechowski…
The conversation began with the two sharing their personal life, their endeavors extend beyond the world of real estate. Last year, they embarked on a significant project, purchasing a fixer-upper house that has since become the central focus of their lives. Prior to his career in real estate, William worked in construction, which he thoroughly enjoyed. After a hiatus from the field, he was thrilled to pick up the tools and get back to work. Nevertheless, real estate remains the primary driving force in their life.
As a real estate professional, William has been licensed for four years, a period that seems to have passed in the blink of an eye. For both William and his partner, Hannah, their journey in real estate has been a passion-driven adventure. Drawing on their backgrounds in the service industry, they specialize in building personal relationships with their clients, going beyond the mere transactional aspects of the business. They genuinely care about the people they work with and focus on making the real estate experience as comfortable and stress-free as possible for their clients.
Geographically, William and Hannah’s real estate services are concentrated in Southeast Michigan, particularly in the region adjacent to the Detroit River, commonly referred to as “downriver.” William’s deep connection to this area, where he grew up, is evident in his appreciation of its beauty and vibrant cultural scene. They emphasize the numerous attractions, such as bars, the riverwalk, and a plethora of restaurants. The area is not only a popular destination in the summer but also an excellent place to call home, thanks to its rich culture and stunning architecture.
Economically, they have observed some fluctuations in the real estate market. While highly desirable properties receive multiple offers and are sold rapidly, there has been a noticeable shift for less pristine homes, which tend to linger on the market longer. On average, houses spend approximately 7-8 days on the market, and the average sales price hovers around $175,000. This dynamic market environment keeps William and Hannah on their toes as they navigate Southeast Michigan’s diverse real estate landscape.
The conversation delved into several aspects of William and Hannah’s real estate experiences, shedding light on both their expertise and their commitment to their clients. Among the topics discussed, the National Faith program emerged as a notable highlight. This down payment assistance initiative has played a pivotal role in assisting their clients with minimal upfront costs, particularly in the Lincoln Park area where they conduct much of their business. The program’s eligibility criteria include factors such as household income, family size, and a successful underwriting process.
Transitioning to a challenging moment in their real estate career, the discussion touched upon a transaction where an intense disagreement arose with the opposing client’s agent. This particular scenario involved a VA loan, and William and Hannah emphasized the importance of educating clients about the nuances of different loan types. Despite a smooth transaction, a discrepancy emerged related to property taxes. A mistake they made regarding verification was rectified by adjusting their own commission to cover the error, demonstrating their commitment to ethical and transparent dealings.
In another instance, the importance of diligent representation and problem-solving skills became evident. The narrative revolved around a situation involving split title and the combination of lots. William and Hannah underscored their responsibility in guiding clients to make informed decisions, especially when it comes to the choice of a title company. A critical issue related to the legality of ownership was uncovered, which could have jeopardized the transaction. The duo’s extensive research, involving tracking down previous owners who had the property foreclosed, proved crucial in resolving the situation. The willingness of the former owners to sign over their rights was described as a miraculous turn of events, ensuring a successful property closure.
Discussing their approach to transactions involving family, William and Hannah highlighted their early experiences in the real estate industry. They revealed that the majority of their initial transactions involved working with strangers, as they didn’t initially have family members seeking to buy or sell homes. However, they did recount a recent transaction with their best friends, who are as close as family. While maintaining a professional demeanor, they acknowledged that the line between business and personal interactions blurred slightly, allowing for a more direct and candid communication style, given the strong preexisting relationship.
Transitioning to lessons learned from their early experiences, they shared a memorable transaction involving a title issue and a lot discrepancy. This transaction, which was one of their first, was with a highly cooperative and understanding client who ultimately became a significant advocate for their real estate business. William and Hannah admitted their inexperience in entrusting title matters solely to the title company, emphasizing the importance of independently reviewing title documents.
The conversation wraps up with Kevin inquiring about the key lessons learned regarding themselves, the real estate industry, and the significance of serving others. Hannah expressed her understanding of the importance of keeping clients calm while acknowledging her need to improve her skills in explaining complex concepts. William shared his realization that he enjoys teaching others, despite not being the best student in school. He also expressed how the real estate industry turned out to be much more intricate and multifaceted than he initially anticipated. Additionally, he emphasized the value of building trust with clients and the joy he finds in social interactions within the industry. These reflections offered insights into their personal growth and their evolving understanding of the real estate profession’s demands and rewards.
Check out Williams Proulx and Hannah Olechowski:
Facebook: https://www.facebook.com/ProulxWRealEstate
Facebook Business Page: https://www.facebook.com/william.proulx.96
Instagram: https://www.instagram.com/william_the_realtorr/
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