Just thought some folks would enjoy this Cinderella Ending to the example from my post entitled "Take back our industry...Choose to work with clients who will listen to your advice... "
This update is regarding the mixed race couple I talked about who felt uncomfortable at the comments a seller made while we viewed their home on our first day of the search process. After that day, they went on to narrow the homes in that first round to a newly built property priced at about $490,000. They took one day too long thinking about it however, so we lost it before we even got to make an offer.
SO it was back to the drawing board. This time, after looking at another six or eight houses, they decided they liked a new construction inventory home priced at $700,000. They decided they wanted to finish the basement and add some more things, so the final sale price would have been around $800,000.
Over the course of the next month though, it seemed they were not supposed to buy this house. On three separate occasions, they had to reschedule writing the contract just a day before the appointment. Their reasons ranged from the man having surgery to the lady having surgery to the lady's mother passing away, not to mention various family issues that somehow got in the way as well. There was a point where I was just not sure how these things could all be happening to these folks in such a short time frame. Finally when their lives settled down enough to take a breath, they then came out of nowhere by announcing that in order to buy the house, they wanted to move in within 30 days. Now I'd normally have been perfectly fine with that. Except, there was a 1500 square foot basement that had to be finished. So this last minute demand almost seemed like an easy way for them to rule the house out. Honestly, I found myself struggling to remain patient with them at this point. The builder rep was frustrated, of course because he had spent over five hours putting together paperwork on three separate occasions along with getting special answers to their requests like "Can I build a full masonry fence?" and "Can we add a smooth top range in the basement kitchen?" My duty, of course is to my clients and not the builder rep, so I maintained order as best I could while making sure my folks knew without a doubt that I was working for them no matter which house they ended up buying.
Sometimes in the course of business we, as agents can't help but expect the worst. A couple of times in my eleven years of real estate, I've had clients to whom I've shown dozens of houses only to get a call from them one day out of the blue about how they found a FSBO and bought it over the weekend. They actually sounded like they expected me to be happy for them. Of course, I should have made sure to remind them over and over about my role as buyer agent, but we all learn that lesson the hard way at least once.
I've also had a client or two who, despite my warnings, did something foolish to lower their credit score, therefore losing their loan approval at the last minute. So when things get rocky in the course of a transaction, the first instinct is sometimes one of skepticism and frustration. With these clients recently though, I made it a point to roll with every obstacle they threw my way. I treated them like I would my own family and gave support and encouragement. I never pressured them except to explain from time to time when a house they liked was legitimately being considered by another party. And they loved me the whole way through.
I can't say I wasn't concerned that they were perhaps becoming wishy washy from time to time. But all in all, my focus was on their best interests and I remained in their corner despite any doubts about whether they were really going to buy something.
We can have the most elaborate "pre-buying" or "pre-listing" speeches perfected. We can keep our clients informed along the way. We can call them three times a week. But when all is said and done, we can't control their whims. That's why personally, I can't imagine being in this crazy business without a strong spiritual life. I believe in God and I pray daily to do well and take good care of my clients. With so many people involved, it's just too easy for a transaction to fall apart. So I can't imagine remaining sane without the knowledge that I'm being looked after by a higher power.
This personal truth really hit home for me this past week with these particular clients. This is the good part... After all the houses we've seen and after nearly writing offers at least four different times and after all the unfortunate health and family issues through which my folks suffered, we finally are under contract. And God patiently overlooked my impatience from time to time and said "You just hang in there and it will all be worth while..." Because you see, that first house they nearly bought was listed at $490,000. The second one we nearly wrote (on three different occasions) would have been $800,000. But the one we finally just went under contract for was listed at $1,388,000. Obviously, that's nearly three times the sales prices of the homes they were considering in the beginning. This one has nearly everything my folks wanted. It is one week from being ready for move-in. The basement is already finished unlike the two houses before it. It has a huge master bedroom, bathroom and closet like she wants. The lot is beautifully wooded with a little stream running along the left side and there is even an outdoor fireplace that he loves.
All in all it truly feels as if this home is the one they are supposed to have. Timing is everything and God's timing is unbeatable. In His timing, my client was able to get his house in Florida sold and the money put in the bank. To top it off, he is going to pay cash for this house, so there will be no loan pitfalls either.
So I guess that seller, who opened her mouth and inserted her foot, actually did me a favor by making the assumptive comment about neighborhood diversity. It just goes to show that despite what we may think, we are not in control.
So please take this little story as my Christmas wish for you. I wish for everyone in this network to have wonderful relationships with your clients in the year to come. Remain patient with them when they act like children. Call them several times throughout the year after the sale is complete. May you all be blessed with clients you want as friends. From the moment they first meet you, may you appear in their eyes to be the most professional and compassionate real estate professional they've ever had the privilege of meeting (and work hard to make it so). May you see any warning signs in advance so that you can take the proper steps to avoid losses of your precious time. And may your families be blessed and comforted in the knowledge that you are successful and working hard to provide for them. Merry Christmas all you Active Rainers! I can't wait to see what 2007 has in store for us all!
Quick comment on the buyer doing something to lower their score at the last minute.
Yes it's a good idea to coach them not to make any credit changes.
A better solution is to work with a lender that doesn't have to pull credit more than once. It used to be that only direct lenders could do this, but now many investors allow mortgage brokers to also use the credit report they already pulled.
As long as the deal closes within a reasonable time (60 days at teh shortest) there doesn't seem to be much reason to re-pull credit. Make sure to discuss this with a lender before referring to them.