Chrissie Goodrum & Jeremy Kendall: Navigating the Shift to Real Estate and Mortgage Lending

Embark on a journey into the heart of real estate with our esteemed guests Chrissie Goodrum and Jeremy Kendall, as they lay bare their transitions from the corporate world to the vibrant realm of property and mortgage lending. Chrissie brings her wisdom from Hunt Country Sotheby's International Realty, shedding light on the allure of real estate's flexibility and the profound commitment it allows her towards family. Jeremy, on the flip side, recounts his leap from numbers to negotiations, highlighting the unexpected pathways that led him to Atlantic Coast Mortgage. Their candid narratives paint a vivid picture of the intricacies involved in contract management and the adeptness required to represent diverse clients in an ever-evolving market.

Navigating today's high-stakes real estate terrain demands a finesse that only seasoned professionals can offer. Our conversation takes a deep look into the art of maintaining professionalism and the significant role of caution and transparency. We tackle the contentious issues agents face in a field where entry barriers are minimal and explore the looming legal challenges confronting the National Association of Realtors. This exchange underscores the irreplaceable value of professional guidance in securing real estate transactions, urging our audience to seek out agents who prioritize educational content and sincere community ties over the glitter of social media dazzle.

In our final segment, we underscore the power of personal branding and the magic of forging lasting relationships in the real estate business. Discover how community involvement and personal referrals are the cornerstone of a thriving career. They share insights on matching clients with the right realtors—where personality, life stage compatibility, and maintaining a strong, positive connection are key.  Tune in to equip yourself with the knowledge and strategies to excel in the competitive landscape of real estate.

Transcript

Speaker 1: 0:31

Chrissy Goodrum with Hunt Country Sotheby's International Realty. I'm a broker and I'm a realtor there. I'm not the owner. I am managing the contracts that come in and review them and I also sell real estate, meaning I represent sellers and I also represent buyers and I also work with landlords and tenants. Wonderful, and we have offices in Leesburg and in Middleburg. Great, and how about you?

Speaker 2: 0:58

Jeremy Yep.

Speaker 3: 0:59

I'm Jeremy Kendall. I'm a residential loan officer with Atlantic Coast Mortgage and I assist clients and consumers who are purchasing a primary residence, second home investment property. I help them get financing to go along with. I'm the liaison to the realtor in that transaction, so we help them finance the transaction because most people aren't paying in all cash. And we are headquartered in Fairfax Atlantic Coast Mortgages, but I'm licensed in Texas, florida, virginia, dc, maryland, north Carolina. Our team is all over the East Coast and I think Atlantic Coast itself is in like 35 to 40 of the 50 states at this point.

Speaker 2: 1:43

So you guys have a huge representation.

Speaker 3: 1:45

Yes, so we try. I mean, obviously we do a lot of business in Loudoun County, fairfax County, the Virginia area, but we also you know I've done a bunch of business in Florida. So we try and service as much as we possibly can out in the greater, you know, united States.

Speaker 2: 1:59

Great. Tell me a little bit about how you each got into the business that you're in.

Speaker 1: 2:03

So I got into real estate eight years ago. I had been laid off from a job and at the time my kids were in middle school school, about to go into high school, and my background I'm a CPA, jeremy's a CPA too. But the job that I was laid off from I was a director in human resources at a multinational company. I had been traveling a lot and the company was going through some job reductions, and this was at the end of I had just bought a house and I thought, wow, that was kind of a fun experience, and so I took a year and tried to figure out what I wanted to do next, and I also wanted to make sure I was around for my kids and I thought, oh, real estate would be flexible.

Speaker 1: 2:51

I don't have my weekends and my evenings, but I got my license in 2016 and I've been doing it full time ever since.

Speaker 2: 3:03

Awesome. How about you, Jeremy Yep?

Speaker 3: 3:04

So I started three and a half or four years ago. Prior to being a mortgage lender, I was at a big four public accounting firm and was a CPA and had done about two years there and quickly kind of realized this was not going to be my career trajectory. This is not really what I wanted to do, and I think my mom was probably sick of getting the phone calls of me complaining about what I was doing and how I didn't love my job. And so she's actually an interior designer out in the Loudoun County area. So she's done various B&I networks and stuff like that. And so she had connected me with my manager, who you guys know as well, who she was like. You know she's doing really well.

Speaker 3: 3:47

This was during COVID, right? So this is the big refi boom and everyone was doing really well. And so she was like why don't you kind of give her a call and see what you think might come from that? And I was always interested in real estate but I wanted to leverage my background as a CPA and I thought this might be a good fit. So her and I had chatted for about an hour and she was looking to grow her team. You know she's been in the business 20 plus years and has been a top producer forever, and so she was looking to bring someone that was younger, that had a different sphere of influence but also wanted to grow and build the business with her, and so it was kind of like a good fit, and so it didn't take much convincing for me. I probably had to convince her a little bit and then, you know, she decided you know, we want to hire you, and I got started, you know, thinking about October-ish of 2020. So right in the heart of COVID, really.

Speaker 2: 4:35

Yeah, and how was that?

Speaker 3: 4:37

It was a roller coaster. So the month prior to that my team that I joined they had done 100 loans in a month, which is like unheard of and had like a record-breaking month. And so when I joined the team we were in the midst of a huge refi boom. And I think that first day as I'm being onboarded and learning different systems and all that kind of stuff, I shadowed my manager on calls as she was taking in client calls, doing estimate reviews with refinances and all that kind of stuff. And then so I shadowed her for a few days and then she just threw me right into the fire and again, luckily, because I had my background, I kind of understood and picked up pretty quickly what we were trying to accomplish on those specific transactions and again, most everybody was refying, at least if they were paying attention.

Speaker 2: 5:28

So by that point we did Hands raising. Yeah, exactly Hands raising, that's actually all good.

Speaker 3: 5:37

Loving it. So yeah, she was like, you know, she shouted me for a day, listening to me with the clients and would step in if I would trip up or anything like that. And she was like after that she was like, listen, I trust you, I've got so many things we're running on this point no-transcript and that didn't account for purchases and stuff like that. So she jokes that you know I've been in it for three and a half, four years but she feels as if I've got like 10 years of experience.

Speaker 1: 6:10

It's like dog years.

Speaker 3: 6:11

It sounds like it. Yeah, mortgage businesses, it's like dog ears.

Speaker 1: 6:14

It sounds like it.

Speaker 2: 6:15

Yeah, mortgage businesses and dog ears. I like it Exactly so.

Speaker 3: 6:17

I couldn't have asked for a better start. You know when I was pretty strategic, I didn't want to. I know how hard it is to start your own business, whether from a realtor or lender standpoint. So I wanted to join an established team that already had a really good name in the area and really across the country and to be able to learn from them. You know, between all of us now we have like 50 plus years of experience, so I kind of wanted to do it that way and then since then have been continuing to build out my brand and my business.

Speaker 2: 6:45

And making it grow. Yeah, exactly, yeah, sounds like you have a great team.

Speaker 3: 6:49

Yes, they are the best the best.

Speaker 2: 6:51

Yeah, chrissy, what do you find most rewarding about what you do in real estate?

Speaker 1: 6:57

Oh, what do I find Gosh? So, in terms of the transactions that I do, I love listing properties. I find it very strategic to help sellers sell their properties and the last listing that I worked on that closed a few weeks ago. I helped a family with selling a home on behalf of a mother who was no longer able to live in the home due to health reasons. So her son had power of attorney and it was a very stressful move for the entire family because this was a home that his mother had lived in for over 20 years. She loved the home. Her husband had died a few years earlier and I was able to help them and I was able to help them move her to the next phase of her life, which wasn't a fun moment for them at all, but I was able to take the burden off of their shoulders to get this asset to look good on the market, to sell it confidently and get the proceeds from the sale to help their mother with her health care going forward and just make sure that they weren't swindled in the deal. So I find listing homes really rewarding and I also find I just worked with some buyers this past week to close on a home and they were first time homebuyers and the market that we're in currently we have low inventory for the most part, the interest rates are higher than ideal Teensy bit yeah.

Speaker 1: 8:49

And because of the low inventory there's a lot of competition. So people are having to waive a lot of contingencies that you would normally see in a normal market, such as home inspection. And so, because of my experience the eight years in real estate and because I'm a pretty cautious person, I was really transparent with them and said you know, I want you to go to this property multiple times, I want you to really love it. I'm going to go in there with you multiple times, but you probably won't be able to do a home inspection in order to be competitive with the other offers and with cash offers too. And so they continued to maintain.

Speaker 1: 9:33

You know, we're confident and the interesting thing is they were getting some help from a relative to help them buy this house, which was very generous, and their father was actually on the phone with me and in email many times asking me to make sure to take care of their children.

Speaker 1: 9:52

And you know he wasn't a part of the transaction per se, but I wanted to make sure that I had his backing and his confidence and his kids' confidence, because a lot of this is just. I'm a trusted fiduciary, just like I was in accounting, and I don't want people to have buyer's remorse a day after they make a purchase, a week after they make the purchase, a month after they make the purchase. I'm not looking for the quick deal, I am looking for, you know, let's get the best thing that we can with the information that we have and I'm not going to go away. You know I want you to be able to contact me, you know, years later to say this is what we've done with the place, or you know, we're going to move on and we like working with you so much that we trust you to help us again.

Speaker 2: 10:38

Yeah, I mean, they're trusting you with one of the biggest assets that they'll ever purchase, right, yeah, what challenges do you face in the real estate market these days? I know there's a lot going on.

Speaker 1: 10:48

How are you handling that? So I think and because of the low inventory, there's a lot more competition for business and then working with other agents, I think the barrier to entry to real estate is really low. So you don't have to have a college degree, you just have to have a high school degree and you have to pass a real estate exam a state exam and a national exam and then after that you have to maintain education credits CE on a regular basis. But there are a lot of people that do the bare minimum in our industry, unfortunately, a lot of people that aren't paying attention to rules, a lot of people who are lazy, some people who have been in the industry for a very long time, who are used to the way they did it 30 years ago, and so it can be very challenging to work with agents who aren't putting their best foot forward and following best practices and being honest and being truthful. So those are some of the challenges, challenges that you're overcoming.

Speaker 1: 11:51

Yeah, and then another challenge right now is there has been a lawsuit that many people have been hearing about the National Association of Realtors is embroiled in with respect to buyer agency, and so I think the public may be concerned about what's going on, and some agents are concerned about buyer agency.

Speaker 1: 12:13

And will buyer agents be agents be paid going forward? You know, I think that's just to me ridiculous, because I think that I equate it to if you, if you're going to go to a nice restaurant like Tuscarora Mill, tuskegee's, right, I know that if I'm going to go to a nice restaurant and be served at the end of the meal, I'm going to pay a tip. So if I'm going to go embark on a real estate transaction and get professional representation, I expect that the person that's representing me is going to get compensated. So personally, I'm not really worried about this. I think the best thing to do is just keep on following best practices and distinguish yourself as someone who works with integrity and who does their research and always shows up and does their best. Yeah, and how do you?

Speaker 2: 13:03

convince people that it's worth hiring a professional real estate versus trying to do it on their own or going with. You know just someone they found off of social media without much research.

Speaker 1: 13:17

I think that social media is necessary, but I think that it is. I'm over 50. I'm Gen X, so I like social media, but I'm not trying to TikTok my way into convincing people to work with me. I think that's fluff. I do, and I'm not a professional entertainer. I'm not a professional comedian. I'm not a professional dancer.

Speaker 1: 13:41

So we might have a fun time here, but I'm, you know, like I wouldn't look for a doctor or a lawyer or a CPA on Instagram, and nor would I want to hear them tell me about the specific nitty gritty of their day. Um, and I've seen agents do this and I think that it's not professional. So I have a really good website that I've worked really hard on. I have a good YouTube channel where I try to do educational videos, and I also network in the community. Jeremy mentioned BNI. I'm in a BNI group and you know I try to be as outgoing as I can. I sponsor Morvan in the Park, polo in the Park in the summertime. I have a tailgate space and in my local community I've been on my HOA as the president for a few years. I do volunteer organizations. I've coached and refereed youth swim teams. So I think that you know I want people to always know that I'm a local person that they can trust.

Speaker 2: 14:48

Absolutely, and professional and trustworthy. Yes.

Speaker 1: 14:52

Yeah, and I ask people for testimonials after we do a transaction and then just always keep me in mind and I really appreciate referrals you know, personal referrals because that actually means the most. If someone says I just worked with Jeremy and he was phenomenal, that word of mouth, it just means a great deal.

Speaker 2: 15:14

The power of word of mouth is huge. Yeah, absolutely. Especially these days, I feel like, yeah, jeremy, tell me a little bit about what advice you would give to somebody. I know you got into the industry very young. What advice would you give for someone in your demographic getting into this industry?

Speaker 3: 15:33

Yeah, yeah. So first you know I came in with big expectations, no-transcript to pick up the phone and you got to be. You know, put yourself out there, let people know in your sphere and around you, hey, this is'm doing now, this is, you know, the type of business we're looking for. Would you keep me put top of mind when that comes out? And then you know kind of saying yes to a lot of things. You know, being social, being active in your community, going to events and continuing to, you know, meet people and you know, let your personality kind of bring out who you are and develop connection with people. So I hit the ground running with that kind of stuff. When I first got in the business I called agents that were my parents and my older brother's aides, that I knew were in the business and were established and reached out to them first. And you know, hey, this is what I'm doing, would love to grab coffee with you and just kind of hear you know how the real estate market's going for you and all that, so being, you know, progressive in that and and reaching out to people and starting that way.

Speaker 3: 17:06

And then she talks about uh, chrissy talked about social media. So I agree I'm not a big Tik TOK or anything like that. I actually didn't have Instagram until I got into this profession but since then you know I would post about. You know my line of work and what I do client reviews and stuff like that, and people I've gone to college with that I haven't spoken with in eight years probably have. I've had two to three people call me in the past week, you know, asking me if I could help them with. You know their transaction in Richmond or down in North Carolina or what have you. So I think everyone's social media is different, right and catered and curated in a different way. I tried to focus on posting about client successes and client reviews and testimonials and, you know, showing my audience that the proof is in the pudding right You're building your results in your audience by consistently showing hey, you know, x, y and Z had a great time and really found value.

Speaker 3: 18:04

This is what they said, you know. It's kind of I think you, chrissy, would agree to this too Like we are a referral based business, right, um and so to have clients one take the time to leave a recommendation and write a testimonial that doesn't always happen all the time, right and then not only to leave one, but to leave a raving one with very kind words and you should use Jeremy or Chrissy or whomever it may be. I think that it's hard to get the testimonial, let alone to consistently get them, and then to consistently have good things said about you. So if you're a professional in the space, to be posting that or to be sharing that with your sphere of influence, I think is really important. I don't think it's braggadocious, I think it's showing that, hey, you know, this is what happens when you work with me. These are what real people in real time are saying about their experience with me.

Speaker 3: 18:53

And you're, you're, you're stacking a proof that you are who you say you are.

Speaker 2: 18:58

Absolutely, and for clients to even take the time to sit down and write that is huge and a reflection of your work as well, right.

Speaker 1: 19:05

Exactly.

Speaker 2: 19:06

What advice do you guys have about lenders and real estate agents working together and what that relationship's like?

Speaker 1: 19:15

Sure, I have an analogy that I think that regarding who you work with, I think that your selection is like a box of crayons, so not everyone is. You might need a red crayon for a drawing, you might need a green crayon. So, depending on the property or the geography or the price point, there may be one realtor who is better suited for a transaction than another, Right? So I'm licensed in Virginia, but that means I probably am not interested in going down to when is. Where is Virginia Tech Blacksburg?

Speaker 1: 19:54

Blacksburg I'm probably not going to go down to Blacksburg, right? It's four hours away, but I'll probably find somebody in Blacksburg who is a realtor and I will refer you to them. And so, regarding lenders, I have a website and I try to network with lenders, right, so I can't use this same lender necessarily for every client, because maybe it's their personality, maybe it's a product, but I try to have a few different lenders on my website where, when I have the opportunity to work with a buyer, I'll say hey, I've got some great lenders who are local that I know, and I want you to call each of them if you'd like to Talk to them, see how well you vibe together. And it's not up to me to say, definitely use Jeremy. I mean, definitely use them, but you know, because maybe Jeremy's unavailable, maybe he's on vacation.

Speaker 2: 20:51

Or someone's a different fit, exactly. Or a different color in the crayon box right Exactly, exactly.

Speaker 1: 20:55

Yeah, and then I guess this might go back to what you asked about earlier disappointments. Sometimes people who I know well, who I think I would really serve them well, they don't approach me for the business, and I think that can be very disappointing. You know a neighbor of mine, a friend of mine, and I think it's important to just stay humble and know that you, there may be something else going on in their life that you're unaware of and just let it go. You know you could get upset about it. Or you could say, hey, something's going on in their life. They didn't select me. I'm not going to beat myself up, I'm just going to wish them the best and hopefully it goes well, and if it doesn't, maybe they'll circle back to me. Who knows?

Speaker 2: 21:36

You never know who will come back. Yeah, so to answer your question.

Speaker 3: 21:40

Good, I'm going to repeat it back to you so advice for seeking out referral partners.

Speaker 2: 21:46

Which is how the relationship works between lenders and real estate agents.

Speaker 3: 21:49

So communication is huge, right, you are. You know, as you said, you're handling a client's probably the biggest transaction that they're going to make in their life, and so having a team with your realtor partner and your lender, having a good communication system there is huge. So, for lenders especially, I know responsiveness and communicating and you know, answering the phone when maybe it's past six o'clock or whatever the time is, or over the weekend or you're on vacation, like being available to your, your referral partner, is huge, right, you want to be able to communicate and and and be a reliable resource for them. So that's a big part of it as well. And then, like Christy had mentioned, like it's different strokes for different folks. So, as you, you know, if a client comes to me that doesn't have realtor representation and they're seeking my counsel, for you know who would be a good fit for them one, you know, obviously you want them to be a good agent and so, like, that's probably the minimum. You know you want that to be the standard that you said, that all the agents that I work with are really good at what they do and they provide great value. And then, personality types right, I've had agents that are very type A and like very on top of their clients. And I've had some clients who are kind of like they want the chill agent that will, like you know, hit them up once a week and do like oddly enough, even though you would want to be super communicative, you've had that before.

Speaker 3: 23:11

So, personality, types and fits, and what makes the most sense, where is this person at in their stage of life and which realtor may be able to relate to them the best and be? You know, the realtor especially. You know I'm kind of sitting back and taking the phone calls at the office or what have you like. They're going out in the field with them, them, and spending multiple hours a day, maybe going to see multiple properties for maybe a week, maybe for six months. So you want them to have a really good vibe and good connection with each other.

Speaker 3: 23:39

That hey, if I'm referring this out to a realtor partner of mine, I know that for however long that they may be spending time with this individual, they're going to really enjoy their experience and you know, while they'll be going to be stressed. You also want someone who can kind of like roll with the punches and make this as smooth a transaction as possible for the client Because, at the end of the day, they're going to we've seen a million different things, so we're going to. When bad news may strike. We may be super calm and the client may be like well, why aren't you freaking out with me with this?

Speaker 2: 24:09

And it's like well, you know we've seen this, We've had this before.

Speaker 3: 24:11

I know it's stressful, but trust me, we will get through this and are really good at mediating that and kind of being a bridge to kind of make them feel better and address the situation professionally and provide solutions but also provide you know, confidence and a sense of calm. I think that's a huge part when you're trying to match up with clients to realtors and stuff like that.

Speaker 2: 24:43

Well, thank you both for coming in today. I've so enjoyed our conversation. Thank you, Donna. Thank you.

Speaker 3: 24:49

It was really great. I appreciate you guys taking the time. Thank you.