Hello and welcome to another exciting
episode of Bridge the Gap:Connecting Business Perspectives with your hosts myself, Colton Cockerell and Trisha Stetzel. Our goal is to bridge the generational, gender, and life experience gap in business through our unique styles of gathering information from our guests. now let's get it started. All right, Hello everyone and welcome to a beautiful Wednesday. Hopefully it's beautiful. where you're at. My name is Colton Cockerell. I am a Certified Financial Fiduciary and independent financial planner with Sharer McKinley Group. And as always, I have my lovely co host and I'm not going to forget her because I was chastised before we started this recording to make sure I didn't forget to introduce her. So ladies and gentlemen, please where you're at sitting, standing, whatever, give a round of applause for my lovely co host Miss Trisha Stetzel, Trisha, how's that?
Trisha Stetzel:Yeah. Well, I still feel kind of slighted because your introduction like all of the words that you say about yourself way longer than mine. I'm just saying, Well,
Colton Cockerell:I'm trying to make sure our guest has plenty of time to talk. I could talk hours about you. That's a disservice to the guest.
Trisha Stetzel:It is alright. Hey everyone, Trisha Stetzel
Gretchen Umberger:Hey, thank you so much for having me. here Results Xtreme Business Solutions. And it is my pleasure to introduce our guest today whom I have known for many, many years and she is amazing in her field. And I'm so excited to Welcome, everybody. Yeah, so have her on the show today so that we can ask her some really
Colton Cockerell:the lot of people don't really know hard questions. I'm kidding. Gretchen Umberger is a full time Gretchen's backstory before she became a realtor and why she realtor specializing in the greater Bay Area of Houston for over 17 years. Gretchen says she's been fortunate to have associated with two outstanding brokers in her career that shares her desire for excellence in service. And up to date expertise Gretchen attributes he success to always finding a wa past obstacles treating client and transactions as if they wer family. So true. And constantl adding to her skill set and mos importantly, service after thi sale. Gretchen, Welcome to t e sho became realtor. And it's such an interesting story. And I mean, we won't spend a lot of time there because I mean, it's it's a great story that I want people to hear. But one other thing once you know about Gretchen why she's here today is because if you go into Gary Greene, down NASA and you walk in there, you take a immediate right and she is the first she has her own office that you just walk into everyone else's cubicle. She's one of the very few agents who has an office that means she has some reputation of being one of the best in the in the in the whole office, which is 100 Plus, realtors there. So anyway, sorry, I'm gonna stop stroking you, Gretchen, I just want people to realize while we had you on today, I
Trisha Stetzel:love it so
Colton Cockerell:Gretchen and I have such a good time when we when we sit down one on one and we talk. But let's go into this. Let's jump into there's a lot of interesting questions that I have right now people, I want you to kind of walk this out, because it's always kind of, I guess the math doesn't play out in my head here. So people are always saying, oh, what's the best time to sell a house? Right? Because every it's a hot market. It's a seller's market. But the thing that I've never understood is if you sell a house, don't you still have to buy a house?
Gretchen Umberger:So a lot of instances Yeah.
Colton Cockerell:How does that work out? whenever you hear like all that, that jazz about how great of a seller's market it is, and you need to sell your house?
Gretchen Umberger:Well, there's a lot, there's a lot of moving parts to that. So it depends on the individual instance, but let's say somebody's selling their house, and they're typically going up bumping up on a larger house or a higher priced house. So sometimes it really is benefits them even though they're probably paying more for the house. But it's probably at a much lower interest rates over the life of the loan. It's really more advantageous
Colton Cockerell:that I didn't even think about that. See, and that is why I asked that question because I knew she would clear it up from Trisha.
Trisha Stetzel:I knew she would clear it out for you, Colton. So the difference here is this. Trisha has bought a few houses, Colton, not yet. Okay. But we're getting here.
Colton Cockerell:That actually leads me to a great question, but I'll wait for you for sure. I'll let you take okay.
Trisha Stetzel:Yeah. So I'm really I the market, as Colton said, and Gretchen I'm sure we'll talk about even in more detail has been crazy, right and 2020. So I've heard about all of these. Let's call them bidding wars right where you have multiple offers on a house which drives the price up what if The appraiser comes out and says, um, I don't think so like what happens when they've bid the price up so high that the house doesn't even appraise at that value.
Gretchen Umberger:So let's kind of start with the beginning with the appraisal, you know, appraised value is always based on history, you know, it's what happened yesterday, and that was within the last six months. So it's not that an appraiser has to has to find comps that are at least equal to or more than the sales price of the house. So in many of these bidding wars, some of these buyers are, are saying, Hey, I don't care what the appraisal comes in at, because I'll pay the difference between the appraised value and the sales price. I'll pay it. And so it only takes one of those to make all the other sales valid. Right? So if your neighbor, you know, says if your neighbor bought their house, and they pay$20,000, over the max average price for a house that like that, the next person that's going to buy that your neighbor's made it easier for that next house to appraise. Wow,
Trisha Stetzel:I never even thought about that. Interesting.
Colton Cockerell:So whenever I sell my first home in many decades from now, I have to make sure I convince my neighbors that sell at a high price first, right? So I can have. So this is a show where you have two different generations, right? There's no I mean, everyone knows I'm a millennial, and Trisha is obviously a Gen X, or I'm just kidding. I'm kidding. No, she doesn't even she looks like she's still 41. So all these new homebuyers, so I don't have a house to sell, I'm going to be buying a house for the first time. So I'm kind of at a disadvantage in a way and against the interest rate, but I'm still buying a house at a premium is that correct?
Gretchen Umberger:Actually, you're not at a disadvantage. First of all, you're going to be you're not selling a house. So therefore you're not you're you're in a better position to compete in that it sucks to be contingent on selling your house. There's a lot of buyers that are losing out in this battle. Because the it's a risk factor for a seller to accept the contract where it's depending on the other buyer, their their buyers buyer, whether or not they can close. So you're you're a safer bet for a seller in that instance.
Colton Cockerell:Man, I need to re listen to this podcast after this is over. I feel like this is direct advice coming right towards me.
Trisha Stetzel:So Gretchen I'm curious, can you can you have a contingent on a contingent on a contingent like how far how deep can you go?
Gretchen Umberger:Oh, you can go pretty deep. I mean, years ago, I've had one that was a it was four layers, right? Oh, my gosh, oh, for any one of those to fall apart would have just been disastrous for for for families, right. So more different families couldn't, you know, move forward. So in this market, that's not going to happen? I can tell you that is not going to happen. It wouldn't be hard to find the seller who'd be willing to accept those terms and that risk to take on that risk. It's a risk.
Colton Cockerell:Yeah. That's actually a good question, Trisha. That's really interesting. I've never even thought just past selling your own home. But what about the person? To me? That's real. That's a great question. I don't really compliment you enough on your on your question. So. So let's talk like this. How did how did the the pandemic we just got out? I guess we're still technically in it. But 2020 How did that affect the markets? And just our listeners understand that we're talking really kind of South Houston here when we're talking about the market specifically because that's that's Gretchen's realm right there. So Gretchen, can you can you explain
Gretchen Umberger:what happened? Oh, it's in real estate. You know, it was pretty cool. It was pretty quick after the everything started shutting down about a little over a year ago that the real estate was deemed an essential service, right. So I had about two weeks at home where I was making phone calls where I couldn't go out and work. And then it was just kind of starting. I would I wouldn't say business is normal because of course like the rest of the world. You know, we're gloved up and, and mast up and booty up, you know, put booties on our shoes and don't touch anything. And we have these hand sanitizers hanging over, you know, off of handbags and everything. So there was that but it also forced us. It really made us really embrace technology. If We hadn't already in the form of virtual tours, and, you know, just all kinds of ways to be able to show properties sell properties, and even close properties at a distance or virtually.
Trisha Stetzel:So I'm curious, Gretchen, did you close on any houses, buyers or sellers were the person buying or the purchaser never even set foot in the house.
Gretchen Umberger:Before I did, I had a client. I'm on the relocation team at my company. So I had a relocation client that I showed them the house virtually via FaceTime, when they were in Europe, they An hour later, I'm writing a contracts and send it to him for a signatures. And then they sell their house, probably during their buyers walkthrough just a bit the day before closing, when they finally returned to the United States. Oh my gosh. And that was after the seller had left, who had just gotten their second positive negative test after both of them having COVID. And so we made you know, that was another layer to where we had to take special care, not just the house cleaning, but to bring in someone who could absolutely sanitize and lay down a layer in that house for this family that was about to move into it.
Trisha Stetzel:Holy cow,
Colton Cockerell:now, would you recommend the buy a house before walking through it?
Gretchen Umberger:That's the second time in my career that that's happened. So of course, there was a little bit of nerves there. It's like, Oh, my gosh, you know, but yeah, sit close. They were very pleased.
Colton Cockerell:So I'm curious about this, because, um, you know, I, a lot of people, you know, they, they might think that they can sell their house in their own or, you know, they can represent themselves on buying a house, what is the in this might be B probably, maybe not get this, but what is the importance of working with a professional Realtor whenever buying or selling a home.
Gretchen Umberger:So, in the state of Texas, you know, you can sell your own stuff, you know, you could a buyer, you know, a buyer could buy their own without representation. A seller could sell their own, you see for sale by owners all the time. But the challenge is, is that not having a professional in the mix, is is poses some definite, definite potential risk, right? In a Trek con a Texas real estate contract, there's 23 different points of negotiation. You know, you don't buy or sell or don't even know what they don't know. They're not even aware of what they don't know. And so, in the blink of an eye, a seller could look, you know, or a buyer, you know, could just one checkbox could mean 1000s of dollars, and they wouldn't even know it until it was all done.
Trisha Stetzel:So on that point, I know a lot of people who have done new construction purchase without a real estate agent, you could just let someone have an agent, even if they're purchasing purchasing new construction.
Gretchen Umberger:Yeah. So in new construction, there's a austero is always just awesome, knowledgeable, friendly, sales associate that you work with, you know, when he walked in the door, they're very nice, and I enjoy working with them. But the fact of the matter is, they work for the builder, and they have the builders interests. That's their number one priority. So unless you're represented by a realtor, you're you're at their mercy you don't you don't know what comps you know what other homes like that have sold for you know, they're not going to share that information for you. Because they're not working for you. So it's when you walk into a bill if you I'm sorry, that's fixed. When you go to a builders office without a realtor, you are definitely at a disadvantage. And since I don't charge anything for buyers representation, the seller always takes care of that. It would really be not a good idea to not to go in on represented
Colton Cockerell:and so and you don't have to share this you don't want to I'm just kind of curious, but what itself atop your head I know you probably have one give me a horror story that you've heard from not being represented by a realtor.
Gretchen Umberger:Um, well for one that's I have some One that I know that bought a new construction house and eat and they said, Hey, you know, I didn't have a realtor, I knew that the builder would have all these inspections, there'd be a city inspection and there be, you know, all these, you know, windstorm Inspector, but it ended up there was some major problems with the property. And that a home inspector, which I always recommend, even on new builds, would have caught, you know, and it would, it's something that was structural, not exactly anything that could have been corrected. Easily and, you know, cost some some money to get it right.
Colton Cockerell:Oh, gosh, that's just one of the boxes, and there's still 20 plus left, holy cow. Right.
Trisha Stetzel:And you know, that contract goes on and on and on forever. We don't speak realities, we say legalese realities, right. So we need you to actually do the translation and be the go between so that we can talk to the you know, the buyers and sellers can actually have a good negotiation right along the way. But not only that, Gretchen, you are well connected, you talked about No, you know, always sending are always telling your folks to use an inspector, which I think is brilliant, we all need one of those, right. But you're also well connected to other parts of that. And so having a realtor on board, would you agree is important from that aspect? Because you connect them to other people that they're going to need along the way?
Gretchen Umberger:Absolutely. So, we, we have a list, I have a list of contractors that you know, to have only gotten onto that list because they were recommended by one of my other clients or we've used them as an agent. I've used them personally and say that we don't charge a fee for them to go on that list. But if they do a bad job Guess what, they leave that list you're out of there. But you know we I we only put people on there that we want to put give to our best clients you know to make sure that they're well taken care of. So
Colton Cockerell:I love that. Now let me ask you this every every show we do this Gretchen and I just got to ask it's totally random off the wall question you're going to be caught by surprise. And the reason why I'm asking this question is because I'm thinking about those really good jalapeno poppers he made like a year and a half ago. So Gretchen right now what is in your refrigerator?
Gretchen Umberger:Well, there's a lot of my refrigerator. I've been to Costco so I had a rotisserie chicken in there for whatever I need to make out of that because I'm starting this new diet from you know, somebody we all know
Trisha Stetzel:Dr. Roxanne
Colton Cockerell:her name somehow she just she's been mentioned the most that if anybody
Gretchen Umberger:has some like her better than you can't pick No. Ah,
Trisha Stetzel:girl power.
Gretchen Umberger:girl power. Okay, so
Colton Cockerell:you got a rotisserie chicken. All right, what else?
Gretchen Umberger:I've got a whole lot of eggs, and a whole lot of fresh broccoli and carrots and celery. And I've been really stocking up on the veggies.
Colton Cockerell:Alright, remind me not to come over your house in the near future. Okay, I'll let you take care of that yourself. So
Gretchen Umberger:I won't mentioned wine.
Trisha Stetzel:You don't tell Roxanne. You sent a whole bunch of eggs and Colton an I are like, yeah, of course you do. That's on the approved list. Yeah.
Colton Cockerell:Maybe right for a cheat meal. Want to make this jalapeno poppers again, let me know. And I'll definitely come and hang out with you. Okay.
Gretchen Umberger:Yeah, that is a cheat meal.
Trisha Stetzel:All right, Gretchen. So a serious question. If you're willing to divulge and let our audience know what generation are you in?
Gretchen Umberger:Oh, I'm a boomer. I'm a baby boomer.
Trisha Stetzel:You would you wouldn't know it. Definitely not.
Gretchen Umberger:So do you? I'm on the edge. But
Trisha Stetzel:But do you feel like you identify most with your own generation or some other generation?
Gretchen Umberger:You obviously, I identify with my own generation however, I I work across the the the realm of generational buyers, you know, millennials, the Gen Xers and Gen Y. All of those all those folks but there was one thing I was going to share with these which I find really interesting. It was a discovery I made a few years ago. You know everyone always assumes that those boomers when they retire are going to scale down, you know, they're downsizing. You know, everybody says, Oh, you didn't down size. I there's a whole niche of boomers that are buying the biggest, most expensive house they've ever had in their life. And it's because they are trying to create the environment for their children and grandchildren to guarantee that they're coming to see them for every vacation and holiday. You know, so they're getting the big house on the lake with the boat remnants, the jetski, ramps and everything, because they are the Fun House, and they are the gathering spot for the family. And I think that's just amazing.
Trisha Stetzel:Thank you for sharing that. That is really cool. You know, it's
Colton Cockerell:really cool to baby boomers like the perfect generation for me to get connected with. So I mean, that's Colton. That's really that's really interesting. I would have never guessed that. Gretchen.
Gretchen Umberger:Thank you for that now. Surprising.
Colton Cockerell:So since we're on a audio only podcast, we do want to get your information out there for our listeners in case they ever had questions. So what I want you to do and remember audio only, so spell out names that you probably need to spell out. Give us your listeners your name, how they can contact you phone number, email, whatever, whatever you think is necessary for them to hear. Okay.
Gretchen Umberger:Okay, so, again, I'm Gretchen Umberger and my cell phone number. The best way to contact me directly is 832-746-4798. And the short version of my life my email address because it's long, and it's Umberger so that's u m b e r g e r at Gary green, G A R Y g r e e n e.com. And my my website is gretchenumberger at Gretchen Umberger dot com no dot
Colton Cockerell:g r e t c h e n.
Gretchen Umberger:Yeah, g r e t c h e n u m b e r g e r.com.
Trisha Stetzel:And I'll put a link in the show notes just to make it easy for people to click through. Gretchen. I was worried when when Colton said that I was like Gretchen Berger, Gary Greene. I was like, man, we're gonna be here all afternoon spelling words. Thank you so much for being on the show. It was such a pleasure to have you on you're just a wealth of information. You have so much experience in the industry. And we're so blessed to have you as a friend.
Gretchen Umberger:Thank you. I really appreciate it. Y'all have a wonderful Easter weekend. Well, I shouldn't date it. Should I
Colton Cockerell:only gave it away recording dad gument Gretchen.
Trisha Stetzel:Oh, okay. It is all good. Gretchen thank you again for being with us today. Hey, Colton. You ready for me to close the show?
Colton Cockerell:Actually, one last little point here. I know we're going over time. Have y'all seen Pink Panther the movie with that really? Clean comedian. You know, we're like the would be honest. Like the I like to buy a hamburger that one. Now, okay, gotcha. like an idiot. Nevermind. Every time I say Umberger I always want to say you never say doesn't matter. Well. Hopefully listeners want to talk about I'm Umberger them. I'm just I'm alright.
Gretchen Umberger:How's that? Okay,
Trisha Stetzel:I like it. I like it. Alright, so on that note, this concludes this week's podcast Tune in next week for another exciting episode of Bridge the Gap: Connecting Business Perspectives.
Colton Cockerell:Thank you again for tuning in to this week's episode of Bridge the Gap: Connecting Business Perspectives. If there's a certain professional or profession that you want to hear from leave a comment in this week's Facebook posts. Please subscribe and share this podcast. Colton Cockerell with Sharer McKinley Group, LLC is located at 820 South Friendswood Drive Suite 207 Friendswood, Texas 77546 phone number to 281-992-5698. Securities and investment advisory services offered through NEXT Financial Group, Inc. member FINRA/SIPC Sharer McKinley Group is not an affiliate of NEXT Financial Group, Inc.