I have sold a lot of properties... and those real estate investors who I coach have collectively sold even more. Lots of deals and lots of profits.
Yet, if I were to identify the biggest complaint expressed by real estate investors in selling a property it wouldn't be the inspections, or the apprasials, it would be dealing with the buyers agent.
Let me share a story of one of my coaching members and the challenges of selling his deal.
Pablo is one of those real estate investors who knows that his profit depends on both his actions and his willingness to be both patient and persistent.
Over the past four months Pablo had renovated the house, put it on the market and sold it... and of course he made a profit.
After some negotiating Pablo gets a contract on his deal... and hits the dreadful Trifecta in real estate. 1. A contract price double his purchase price, 2. He owned the property for just over 90 days with the buyers of course using a FHA lending program, and 3. The sellers agent displayed all the signs of being incompentent.
The deal got done, but... and this is a big BUT... it wasn't without some challenges. Challenges like multiple apprasials, nit-picky and multiple inspections, and of course buyers who want the world and their agent who seemed to want to kill the deal rather then get it done. In this particular case the buyers agent had a nasty but all to common habit of vanishing for long periods of time.
In Pablo's case he, with his agents assistance, doggedly followed-up with every detail, went around, through and over the sellers agent and got the deal to closing.
Had it not been for Pablo's agent doggedly following up and never letting the sellers agent contol the deal, this deal would have died.
As an investor... what would you do in this situation? As an agent... what would you recommend to your client?
I welcome your feedback.
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