Patience really is a virtue.

By
Real Estate Broker/Owner with Cornerstone Business Group Inc 0225086119

We've all had that client that looked and looked and looked at houses until we began to think they were just lonely and enjoyed our company. A few years ago, I had three in a row. It makes me wonder if there isn't something about me that attracts that kind of buyer. I'm not a naturally patient person, so these three clients tested me royally.

The first one was the most unique. After nearly a year and around 50 houses, he bought. I never pried into his financial status other than to make sure he was pre-qualified to purchase any house. After that, I left the subject of financing alone. He gave me a $100K EMD check and then paid cash for the first $450K house. I was a little surprised, but I was excited that things ended that way. At least I thought that was the end. I learned that a little patience can pay off, even if you have to be pushed into it. 

A year later he called me to manage that house as a rental. Which I did for the following four years. A few months after I starting managing his rental he called to have me sell another house I didn't even know he had. He allowed me to set the price and it sold in a week. Six months later he called and said he had found a piece of property that he wanted to look at that had a large tract of land with it.

Now, the funny thing about this client was that he picked every house apart. No matter how good it was, he could find a dozen defects.  Some were real, and some were not. This particular property was loaded with the most defects of all the houses we had seen together. When I walked in I starting seeing issues right away. He didn't acknowledge a single defect.  He wanted the property. There was a very nice elderly couple living there that needed to move closer to town for health reasons. They didn't have the money at that time to make the move. So, they had to sell the house. 

My client made a good offer, and they accepted. He had me put a clause in the contract that they could stay in the house for up to six months, or until they found adequate housing. In that clause, it stated that it was at no expense to them. That clause almost caused them to reject the contract. They were so puzzled by his generosity that they were sure there was a catch. I took a long time explaining the clause, but they finally accepted. They stayed four months until they found a good house in a nearby community. My client still stays in touch with them.

What I learned from watching this guy really was the value of patience. Early on, I couldn't decide if he was really a buyer or just a shopper. I also couldn't decide if I actually liked him or wanted to choke him. I went back and forth on that one. He had been referred to me by another Realtor, and now I am so glad. The experience with him set me up to deal with the next two. Both of them took six months or more to find their homes, but when they did, it was perfect.  Patience is a virtue. I am still cautious when a client takes forever to buy, but I always think of that first client. I still do business with him. He pays cash for everything, so I never have any questions when he wants to do something. I know it will be fine. I haven't wanted to choke him in years, and I really have come to love him and his family. They have become a part of mine. Patience really is a virtue.

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Rainmaker
494,749
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

This sounds like the ideal client! thanks for sharing with us.

Nov 30, 2017 05:48 AM #1
Rainmaker
2,735,843
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Mike. I am not a patient person but your story and this first guy made me happy you are.

Nov 30, 2017 05:49 AM #2
Rainmaker
3,709,677
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for sharing the story. I agree patience is a virtue

Nov 30, 2017 05:58 AM #3
Rainmaker
2,011,845
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I was having one of those mornings, where patience was needed more.  However, It was myself that I was losing patience with.  It began with a small task of changing the cabin filter in my car.  I've done it a number of times before, but this morning, I dislodged some other part to the glove box assembly, and couldn't figure it out.  I didn't have the patience to google up a Youtube video on the procedure, so simply had my car serviced, and the service guy fixed it free of charge.

Nov 30, 2017 11:54 AM #4
Rainmaker
2,011,845
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Mike, on having this blog FEATURED in the Old Farts Club group!    

Nov 30, 2017 11:56 AM #5
Rainmaker
2,239,079
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Mike.

This reminds me of Sam Walton.  If you didn't know who he was you would never guess that he could buy anything he wanted.  I had the pleasure of making contact with him several times.  One of  kind

Dec 01, 2017 12:45 AM #6
Rainmaker
2,472,858
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

It completely is—every time something happens, you learn something even more valuable than last time

Dec 02, 2017 02:45 PM #7
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Mike Cooper

Your Winchester, VA Real Estate Sales Pro
Winchester has a place for you! Call me.
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