Crazy Sh*t In Real Estate with Leigh Brown - Episode #61 with Brian Whitta

It is extremely important for those in real estate to stay
vigilant at all times, especially in this day and age where
technological crimes are at its peak. Imagine the pain and
heartbreak a realtor goes through when he tells his elderly
clients they’re put on hold at closing because of possible fraud.
That’s what Brian Whitta, a realtor from the micropolitan city of
Findlay, Ohio, experienced and he shares his story with us today.


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Time Stamped Show Notes: 

00:33 – Today’s episode isn’t just crazy, but heart-breaking,
too

00:44 – Leigh introduces Brian Whitta

01:00 – Brian is located in Findlay, Ohio

01:14 – He got his license in 2005, but has only been
full-time for the past 3 years

01:37 – A micropolitan is an honor bestowed upon a city when
they are not tied to a metropolitan area

01:54 – The criteria for receiving the honor includes
having growth projects – Findlay is the world headquarters
for Marathon Petroleum, Cooper Tire, with the largest
dishwasher manufacturer plant, Whirlpool



03:04 – Brian’s story starts with Bob, a family friend who
asked him some real estate questions

03:11 – Brian went to Bob’s house and the questions were
about the sale of their home

03:24 – Bob had medical issues and they were considering
moving to a condo unit

03:36 – Mary was adamant about their moving to the RIGHT
condo

03:44 – Both Bob and Mary are nearly 80 years old

03:51 – The first day of their house being listed, they
had 5 showings

03:57 – One agent quickly submitted an offer above the
list price

04:04 – The appraisal was low and the couple decided to
not go through with the sale

04:12 – The couple already had a condo in mind, but they
couldn't make the sale go through

04:34 – Bob needed to sell the house for the sake of
their health; so, the other agent and Brian negotiated a
reduction in their commission to help with reducing the
closing costs

04:48 – They made the sale go through

04:54 – The seller of the condo decided they wouldn’t pay
a realtor

05:04 – Brian and the other realtor needed the proceeds
from the sale of the house to cover the costs for the
purchase of the condo

05:14 – Bob and Mary decided they would pay Brian for the
purchase of the condo

06:27 – At closing, the attorney mentioned about the
option of wiring the proceeds to Bob

06:48 – Brian interrupted the attorney because they were
supposed to get a cheque

07:23 – The attorney explained the benefits of the
proceeds being wired as opposed to receiving a cheque and Bob
and Mary agreed

07:56 – At 9am the following day, Bob called because the
proceeds were still not in his account

08:20 – The title office assured them that the wire
transfer would come that day

08:28 – At 11, Bob called Brian because the money wasn’t
there yet

08:42 – Bob didn’t call at noon so Brian thought things
were okay

08:50 – At 2pm (wire cut-off), he got a call that the
money still hadn’t arrived

09:02 – Brian called the title office

09:20 – The owner advised that the wire had already been
made at the account number Bob provided

09:47 – The owner read the email to Brian and provided
the account number, the address, the names of the parties
involved, and the dollar amount

10:18 – Brian told the owner that this was not Bob’s
email address or his bank account numbers

10:25 – The owner said he’d call back and hung up

10:44 – Brian called his attorney and called Bob back
regarding the wire fraud

11:39 – Brian informed them the title office is liable
for the loss

11:48 – At 8pm, the office informed them the wire
couldn’t be stopped and that it went through

12:02 – They were on hold for the closing

12:22 – After 13 hours, Brian got a call that the money
was rejected and had been returned

12:57 – The title office and bank fraud department
coordinated with each other

13:12 – The owner of the title handed over the cheque and
they were able to close the condo

13:21 – They later learned one of the emails of the
transaction was hacked



15:30 – Processes and policies do not eliminate the risk for
fraud

16:00 – Wire fraud is NOT only in big markets, it can happen
anywhere

17:24 – It takes a different level of care to look after
elderly clients

18:21 – Call Brian at 419-701-4040

18:31 – Connect with Brian on Selling Findlay

19:18 – Tweet Leigh Brown for your very own crazy story in
real estate 

3 Key Points There is a different level of care and concern
needed to support your elderly clients. Be vigilant with fraud by
having your policies and process in place, but remember, it can
happen to anyone. Going the extra mile—in this case, negotiating a
reduction in commision—is just part of getting the job done and
looking out for the interests of your client. Credits

Audio Production by Chris Mottram

Show Notes provided by Mallard Creatives

Cover Design by Two Minds Design

Original Music by Rimsky Music