The Magic is Set-Fee and Great Service

Walt Hippauf of Help-U-Sell Peoples Real Estate got his real estate license in 1986. As a diverse young man, a job in manufacturing prompted an interest in design drafting. He pursued an Associate’s degree in engineering and formed a small weekend band where he played the saxophone to help pay for college.

After his engineering career, Walt started a catering and music service for weddings. While that business was not meant to be, the entrepreneurial spirit had taken root. He next turned to selling insurance, and a client invited him to join their real estate business. He did both for a while, but eventually devoted all his time to real estate. “I took to real estate like a fish to water. I discovered a new market for modular housing, and purchased buildable lots where I offered buyers the lot and designed a custom modular home. I’d built upwards of 25 homes at the time, but unfortunately lots were few, so I pursued other real estate opportunities,” he recounted.

Walt received his Brokers license in 1994 and opened an office in 1996. Catering to first-time home buyers in the inner city, Walt sold and listed homes for under $50,000. He explained, “Because of the low price, I had a $3,000 set fee, with the commission split between the buyer agent and selling agent. I was handling 70% of the real estate sales in that community and was doing great. In 2001, the economic conditions shifted so I moved the brokerage to Northeast Philly. My brokerage name was overshadowed by traditional big-name players. I looked for a franchise with name recognition and met a Help-U-Sell Real Estate regional manager. I loved the Help-U-Sell model. It allowed me to offer sellers a well-received choice and I was doing 50 to 100 sides a year.”

The Philadelphia housing market covers high, middle and lower markets. Walt said, “Home prices here are all over the map. Some are $70,000 and many average out at $300,000. Look again, and you’ll see homes that are $500,000 to $1 million. That is irrelevant to us because we concentrate on promoting full service for a set-fee. We are great at convincing people to list with us when we show them the full marketing plan and the savings.”  

As 2007-2008 revealed the early stages of the recession, Walt did not take the threat lying down. “Collapse seemed imminent, but I was not going to hang it up. The business slowed down by half, and I had to lay off staff. I kept everything simple. I looked into doing REOs, but there were many big companies already handling those transactions. Before the recession, I had a good business, so I kept doing what I know how to do. I tapped my Center of Influence contacts, and stayed afloat with referrals. I was also doing full page ads in the real estate magazines, and had leads from the internet. I stayed in a bare bones mode until June 2009,” Walt explained.

Just as the economy and home sales were picking up, Walt suffered a personal injury. He shared, “Once again, it is not in my personality to give up. I ran my business from my laptop while convalescing in a nursing home. Tenacity is everything: I quickly got three listings, three houses under contract, and three settlements. I conducted my meetings through GoToMeeting and became a master at e-brokering with the help of DocuSign. I thought, if I can achieve all that under trying personal circumstances, what can I do once I’m able? I did listing presentations online and met the client in person to sign contracts, take pictures and install signs. I’d send the buyers the contracts via DocuSign.”

Recently, Walt’s thoughts are on the next steps for his business and life. “I originally planned to be out of real estate by 2020. However, a previous client approached me with the idea of mentoring their son, who had an interest in learning real estate. Henry Rutledge wanted a career change from engineering, to which I could relate. At 30 years old, this young man is just getting his feet wet. When he is fully acclimated, he is looking to buy my business in 2022,” Walt shared.

While Henry is learning and chasing leads, Walt stays busy managing the business. “Not including what Henry achieves, my goal is to personally do 24 to 30 closings for the year. My operating costs are low, so I’ve given Henry the lead to expand our marketing initiatives. This includes blitz signs and targeted marketing. We’re looking to do more with YouTube, Facebook and text messaging. I’m not turning down any leads, and passing many over to Henry. I like the drip emails; I use them for the holidays, indicating that I’m still here and looking for referrals. All of our leads go into the drip email list immediately. I also use the Arounds postcards. Lead tracking and Center of Influence contacts are a huge piece of what Jack Bailey emphasizes in our weekly coaching group. I’ve been in Jack’s group for over 10 years now. He is a great guy and we have a wonderful group for bouncing ideas off each other,” stated Walt.

Having spent the last 33 years in real estate, Walt added, “I’ve done everything. I’ve tried everything. There is no magic – aside from the set-fee and great service. I used to enjoy golfing, dancing, and going to the casino, very often winning; those things are no longer possible. I’ve been married to my bride, Marci, since 1982. Between us, we have two sons, three daughters, 6 grandchildren and a great-grandchild. I’ve built a business I have enjoyed and a plan for passing that on to someone who is as passionate about it as I am, so I am still winning.”