Losing My Innocence in Real Estate and Bank Owned Homes

By
Real Estate Broker/Owner with Amanda Davidson Real Estate Group 0225221517

Losing My Innocence in Real Estate and Bank Owned Homes

When I obtained my license it was late September and was determined to have a closing before the year was out. After about a month of working internet leads my phone rang and there was a kind but, timid buyer on the other end. She had so many questions and I had to say I didn’t know but, I’d find out more than I’d like to admit. I was upfront and told her I was new to the business. I could tell she appreciated my honesty and I made sure I tracked down every answer she needed. She was pre-approved the next day and then our touring began.

 

 

I remember not being able to sleep the night before, changing my outfit multiple times, and I broke out in hives the morning of the appointment. At the time I didn’t have and couldn’t afford GPS so I mapped out a route via MapQuest, printed it out and drove to each before meeting her. For about three weeks she kept being outbid – 41 houses and 8 offers later we ratified on a bank owned townhome for her. All I could think was holy crap, my first deal, I don't know what I'm doing, and its bank owned but, I knew I’d figure it out. My team lead helped me write the first few offers but, I was on my own after that. There was mold found during the home inspection and it took a lot of negotiations but, the bank finally agreed to correct it. Then we jumped through some low appraisal hoops and 52 days later we settled.

 

 

My first time is still one of my favorites not because it’s a really crazy story but, because of my client. I learned that she had been saving for a place of her own after leaving everything behind to escape an abusive marriage. She was a teacher at a local school and by far one of the kindest ladies I’ve ever had the pleasure of working with. When it came time to list her home for sale 3 years later we both cried at closing because she walked away with over $100k in proceeds. She was moving back to California to be with her daughter and son-in-law who were expecting their first child and with the profit she made she was able to purchase the single family home she'd always dreamed of. The people aspect is still one of the reasons I love real estate so much. So many times we become a part of their lives while we help them buy or sell and that to me is priceless. 

 

 

 

 

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Amanda Davidson Real Estate GroupTwitterLiving A Dream Real Estate FacebookLinked In Amanda S. Davidson                                                            

 

 

Amanda Davidson

Amanda Davidson Real Estate Group

Broker - Owner
Licensed in VA and DC

6485 Old Beulah Street
Alexandria, VA 22315

Cell: 703.431.3755
Fax: 703.562.7057




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Rainmaker
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Rebecca Gaujot
Perry Wellington Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Amanda, WOW that was really a hard first time...41 offers and 8 contracts and the one you got was a bank-owned property.... you learned a lot on your first one!!  And, look at you now!

Oct 05, 2016 01:32 PM #17
Rainmaker
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Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Amanda -- what a way to get a start in real estate.  Glad you had such a good experience.

Oct 05, 2016 01:34 PM #18
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Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

Persistence and confidence paid dividends and now that you've completed your first closing, you're an expert, aren't you? When you have a championship attitude, you cannot fail. Great post. All the very best to your continued success. 

Oct 05, 2016 02:09 PM #19
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Praful Thakkar
eXp Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Amanda S. Davidson - great story!

At times I feel I should not be involved emotionally with this - however, we can't forget our first!

Oct 05, 2016 02:12 PM #20
Rainmaker
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Sometimes you have to step out of your comfort zone a little bit to know who you really are. :) You'll do well!

Oct 05, 2016 04:53 PM #21
Rainmaker
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Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

What a wonderful story. The people aspect of this business is one of the things I love about this career choice also!

Oct 05, 2016 09:02 PM #22
Rainer
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Sham Reddy
H E R Realty, Dayton, OH - Dayton, OH
CRS

Its so true!!!

The people aspect is still one of the reasons I love real estate so much. So many times we become a part of their lives while we help them buy or sell and that to me is priceless. 

Oct 05, 2016 09:36 PM #23
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Chris Lima
Atlantic Shores Realty Expertise - Port St Lucie, FL
Local or Global-Allow me to open doors for you.

Hello Amanda,

What a fantastic story.  Although you stated that you didn't know what you were doing, being proactive by mapping your route shows how focused you were. Also, it seems that a lot was learned from the experience. Thanks for sharing.

Oct 05, 2016 10:28 PM #24
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

That is a great story Amanda S. Davidson , my favorite part of real estate is being able to help people. I still list and sell bank owned, and negitiating with a bank for reapairs can be near impossible, so you did something right 

Oct 05, 2016 11:09 PM #25
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

In the end, escrows, dollar bills, arguments, greed, & win at all costs are not the stuff quality memories are made of but instead the people helped & involved. Do not wait to find this out at the end and lament. Know it now & act accordingly

Oct 05, 2016 11:42 PM #26
Rainmaker
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

Great story & I'm surprised there wasn't more nastiness from the bank.

Oct 06, 2016 04:11 AM #27
Rainmaker
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Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Amanda S. Davidson - your humble new beginnings led you to become the successful Broker you are today and it all started with determination and never giving up.

The ending of this story got me with emotion. You are living up to your greatest potential!

Oct 06, 2016 04:14 AM #28
Rainmaker
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Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

I agree that the best part of being in this business is the fact that we are part of their lives in this big decision. I too, at the very beginning traveled to and from the office to see exactly where the homes were before my appts!

Oct 06, 2016 08:26 AM #29
Rainmaker
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Kathy Stoltman
Rockwood Realty - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793

What a great story. You put in the effort and were rewarded with so much more than a paycheck.

Oct 06, 2016 09:58 AM #30
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

We always remember our first one in life even in real estate

Oct 06, 2016 12:57 PM #31
Rainmaker
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Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

What a great first time story, Amanda. I laughed when you said MapQuest because that's what I used to do as well!

Oct 06, 2016 08:59 PM #32
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Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

That was a great learning experience. After writing that many offers you were a pro. What satisfaction taking good care of your deserving client. I loved reading about your first time.

Oct 08, 2016 02:41 AM #33
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Amanda.  That first deal is often the toughest one in our careers.

Oct 08, 2016 03:36 AM #34
Rainmaker
1,382,221
Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC
Waters Realty of Brevard, LLC - Rockledge, FL
... a small office, delivering big service!

Great story. The lesson for all of us..."I don't know but will find out" leads to success - eventually!

Oct 12, 2016 02:28 AM #35
Rainer
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Theresa Akin
CORPUS CHRISTI REALTY GROUP - Corpus Christi, TX

Congrats on the feature! Those bank owned contracts are great learning lessons and challenges.  I knew an agent (now retired) who loved the bank owned and short sale 'challenges' as she called them. She sold many. She never wanted to list them, just sell.

Oct 15, 2016 01:53 AM #36
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