Shirley Matlock - Crazy Sh*t In Real Estate with Leigh Brown - Episode #154

Are you having trouble making those W-2s look real? Shirley
Matlock, REALTOR of 28 years and Certified Residential
Specialist, recently had a deal fall through because the client
admitted he couldn’t make his W-2s look real! Luckily, the lender
Shirley used was an honest one, and they weren’t going to let the
client negatively affect himself and others. Listen in to find
out the lessons Shirley learned through this experience, and find
out how to build yourself and your network so you know how to
avoid – or get out of – these sticky situations.


Please subscribe to this podcast in iTunes or in the Podcasts App
on your phone. Never miss a beat from Leigh by visiting
leighbrown.com.


Time Stamped Show Notes:


00:35 – Introducing Shirley, a Maryland Howard County REALTOR
of 28 years and Certified Residential Specialist

01:45 – A “CRS” is like a real estate PhD; you must have
taken certain courses and sold a certain amount to qualify

03:30 – Shirley’s CSIRE story

03:45 – The most current one is a referral story; a client’s
neighbor wanted to buy the house he was renting

04:10 – She went to the property and came up with a value;
she called the landlord and the landlord said the owner was out
of town for a month

04:45 – She called back and the same man said the property
management company owns the property; he was the property
management company

05:05 – They came up with a price but couldn’t get the
clients W-2s; the client committed fraud and made fake pay stubs

06:20 – The deal fell through; the man had never paid income
taxes and couldn’t figure out how to “make a W-2 look real”

06:30 – What happens next

06:40 – The client had filled out an application with a
lender; it’s up to the lender to report it if they want to

07:20 – The lessons

07:30 – People are harmed when people cheat the system; this
is an example of why you need a good, honest lender

08:40 – When you apply for a mortgage, you need valid
documents proving your income; the banks aren’t always at fault
for foreclosures

09:30 – Advising buyers to use the trusted resources you have

10:00 – Shirley gives her clients a few lender options to
choose from and makes sure first-time buyers get their benefits

11:30 – Shirley’s advice

11:40 - REALTORS, get as much education as you can in a
variety of settings; you can never learn enough

12:40 – Buyers and sellers, ask your REALTOR what they’re
currently learning and when they’re taking their state continuing
education

14:30 – How to reach Shirley: by email at
shirleymatlock@remaxx.net and by phone (410)465-7777



3 Key Points


Find an honest, reliable lender who will play by the rules.

It’s best for realtors to work with people they know and have
a relationship with.

Get as much education as you can! 



Credits


Audio Production by Chris Mottram

Show Notes provided by Melissa Valder