Welcome back to the Get Traction Podcast, a show aimed at educating aspiring real estate entrepreneurs. As Season Two gets underway, Tom Zeeb welcomes real estate attorney Emily Gumpert to talk about her experience with settlements. Emily breaks down the essential role of a settlement officer, title insurance, and the importance of putting money in escrow. Finally, Emily talks about how real estate laws and regulations have changed over the years and the traits she looks for in prospective clients.
What We Covered:
- 00:32 – Tom welcomes the audience back for Season Two of Get Traction
- 00:56 – Tom introduces today’s guest, Emily Gumpert
- 02:30 – How Tom met Emily
- 03:38 – The role of a settlement officer/attorney
- 04:57 – The most important documents that the settlement officer handles
- 06:24 – Changes in rules and regulations
- 08:50 – Wholesale fees
- 11:35 – Traits of a great wholesaler
- 14:51 – The importance of putting money down in escrow
- 16:25 – The value Emily places on honesty and her reputation
- 20:27 – Situations Emily typically avoids
- 21:49 – How to develop a good relationship with a settlement attorney
- 26:01 – Warning signs of a bad settlement attorney
- 30:16 – Emily’s biggest pet peeve
- 33:32 – Attorney fees and costs to wholesalers
- 37:20 – Title insurance explained
- 43:20 – Navigating the role of settlement agent and attorney
- 45:23 – Tom tells a quick story of a settlement he and Emily were both involved in
- 48:13 – Parting words from Emily
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