I received a call from a relocation company and they asked that I be one of two Realtors to interview with the transferee and do the ERC BMA reportfor them to to review. Yipee .. opportunity and it was a wonderful home located in a highly desired location and neighborhood. Double jig and yipee!
I visit with the owner & set up an appointment. In preparation, I drive by the home to get a grasp of the site, architectural style, etc. and what do I see ... A Realtor's sign (not a FSBO sign) in the front yard. Hmmm .. so I go back to the office, pull up on MLS and yes the listing just hit the system that morning. I called the relocation company and inquired as to the situation, was this just temporary, etc.? That hit them by surprise so they needed to get back with me.
The relocation company discovered that the owners had decided to list with an agent they knew and had jumped the gun on putting the sign up and a formal listing.
Oh righty then, since the decision was made and home listed what do you need of me at this time? Well, we still need a formal report from you as we are required to obtain two BMAs. Of course, if things do not work out for this current listing selling then you would receive high consideration for the next listing opportunity. I inquired, but no paid compensation for the report would be given.
The ERC BMA reports are very extensive. Layer on the fact that I am a certified appraiser and required to do even more on my analysis to meet our ethics requirements and now you are looking at a lot of time researching and preparing the report. On top of all we have a home that is more intricate to value as the site is a knock out with mature trees and the home has functionality issues (no den or large area to entertain and that is very poor design for a large 3800 sq. ft. home).
What to do? Most likely a waste of a lot of time for a zero chance. But then again there is a possible opportunity. I decided to go forward, visit the home, prepare the report for not especially a chance to list the home but more for the relocation company relationship opportunity. The home sold in two weeks with the other agency. Was it a waste of time? The relocation company was bought out soon afterward to a company that has a relationship with a large real estate franchise (not mine) so that opportunity there did not materialize. I believe I chose correctly but did feel used. That happens in our business from time to time.
Opportunity .. you just have to keep the faith that things do work out on occasion!
