What Are Examples of Home Buying Success? – Wanda Williams
On this episode of The Closing Table, we sat down with Wanda Williams!
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 Wanda Williams…
The conversation began with a this or that icebreaker on property agreement, curb appeal, and more. Wanda offers a glimpse into her life beyond real estate. She shares her love for dogs and the tranquility she finds in nature while walking them. Her affinity for flowers is evident in her yard work, and her culinary skills bring her joy in the kitchen. Traveling is her passion, second only to caring for her beloved dog. Moreover, Wanda’s commitment to giving back to the community is an integral part of her identity.
Wanda’s realty company, “America’s Dream Realty,” operates in a global real estate market. She emphasizes that networking is pivotal, achieved through active participation in events and conferences where she interacts with individuals from various parts of the country. This affords her the opportunity to refer clients to realtors in different states, and even engage with potential investors interested in the US market. Locally, her focus is on the Greater Lansing area, comprising 38 cities spread across Ingham and Eaton counties.
Reflecting on a negative experience with a realtor 35 years ago, Wanda shares her journey into real estate. Recounting a transaction involving a property she had purchased on a land contract, she felt misled by the realtor, who incorrectly advised her to cover all the buyers’ closing costs. This choice resulted in breaking even on the sale when she could have made a profit. Discovering the truth later, Wanda decided to educate herself about real estate by enrolling in a class. Despite not initially intending to become an agent, she found herself encouraged by her peers to pursue this path during the course.
Wanda acknowledges that cold calling is often daunting for agents, especially in their early days. However, she underscores its importance in building a foundation. To illustrate, she recounts her approach of reaching out to “for sale by owner” homeowners, though they seemed disinterested in realtors. Despite facing initial resistance, Wanda committed to calling these homeowners every week, offering advice and tips on selling their properties. One particular homeowner, who initially rebuffed her, caught her attention when their house remained unsold. After persistently reaching out, the homeowner acknowledged Wanda’s tenacity and confessed that she was the only realtor to consistently follow up. Eventually, he acknowledged his need for help, demonstrating how perseverance yielded results.
Reflecting on a recent First Time Homebuyers Seminar, Wanda shares a memorable story involving a veteran who attended with his girlfriend. Despite his girlfriend’s initiative to attend, the seminar resonated with him. Following the event, Wanda connected the couple with a mortgage lender for pre-approval. This initial step empowered them to begin their home search, a process they initially felt overwhelmed by. The seminar served as a catalyst, equipping them with the necessary tools and confidence to embark on their home-buying journey.
Wanda then imparts valuable financial insights to seminar attendees, emphasizing that obtaining pre-approval is pivotal. She dispels apprehension surrounding pre-approval, highlighting its cost-free nature. Yet, she advises aspiring buyers to aim higher by seeking an underwritten pre-approval. This advanced form, verified through underwriting, distinguishes them as prime candidates. Wanda emphasizes the importance of financial stability, discouraging major changes like quitting a job or taking on new debt before closing. She then shares a pragmatic strategy: if she could advise her younger self, she would advocate for starting with a duplex or triplex property. This enables buyers to build equity through house hacking, setting a solid foundation for future investments and generational wealth.
Addressing challenging client situations, Wanda acknowledges that such encounters are not uncommon. Her approach is to initiate conversations by understanding their concerns and needs. She aims to resolve issues by focusing on their goals and seeking ways to meet their expectations. For Wanda, client satisfaction takes precedence over personal gain. She believes that a positive experience translates into referrals from satisfied clients. In more complex cases, Wanda is willing to redirect clients to other professionals or dissolve the relationship if necessary, always prioritizing a positive outcome.
Discussing her involvement in Realtor Volunteer Days, Wanda highlights a specific instance where her commitment led to unforeseen business opportunities. Upon connecting with a minister seeking assistance for an elderly woman’s yard, Wanda and her team volunteered their services. A neighboring resident, observing their efforts, joined in, fostering a connection that eventually led to referrals being sent to Wanda. This example showcases the unexpected networking and business opportunities that can arise from selfless community involvement.
Reflecting on her extensive experience, Wanda acknowledges personal growth and industry insights. She admits to grappling with patience but values the collaborative skills of her nephew when navigating more demanding clients. Recognizing her strengths in communication, public speaking, and empathy, she emphasizes that these “soft skills” hold immense value in real estate. Her realization stems from a recent leadership training, reaffirming the significance of interpersonal skills in becoming an effective realtor.
The conversation wraps up with Wanda addressing the current state of homeownership in America, She emphasizes the importance of closing the homeownership gap, particularly for marginalized communities. She advocates a methodical approach to homeownership, advising individuals to work on their credit, consult with mortgage lenders, and be patient. She highlights the economic impact of homeownership on communities and encourages responsible financial practices such as saving income tax returns and seeking additional sources of income. Wanda also underlines the existence of various programs and resources available through realtors, which can guide individuals toward their homeownership goals.
Check out Wanda Williams:
Facebook Business Page: https://www.facebook.com/wandawilliamsworks4u
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