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He's been there too..

By
Real Estate Agent with Referral Network

So real estate can be a very low recognition type of business.     There can be a lot of rough moments in the process of buying a home including; negotiating the price, negotiating the inspection repairs, navigating the appraisal, and negotiating a closing extension.  The idea is that you keep the boat running smoothly so the clients don't get sick from the ride.

A lot of the tough negotiating and hard work is done behind the scenes and if you are doing it right your clients may never even know it is going on.

So today I had a pretty funny experience.  I have been working with a buyer on a sale that has had lots of challenges.  First of all the buyer needed to find a renter for the home they were leaving and that ended up taking a little bit more time than was first hoped.  Beyond that the appraisal has been a big hold up in this transaction because it is a very odd home they are buying.  The problem is not that the home doesn't have the value but simply that it is hard to find homes like it to compare to.  So without good comparables the underwriter won't fund the money for the new home.

Our goal is to never let a home purchase become stressful so we deal with these challenges in a low key way with the intention of keeping the client confident and relaxed.  We try to keep our heads on and work with the other agent to keep the deal going and overcome obstacles one at a time as they come.  There's no need to shout down a lender for taking to long, threaten another agent because things aren't going right, or to taumatize the buyer with a bunch of worried talk about how this deal may go south.  We are on a mission and what we have found is that cooler heads do prevail.  Yes, they prevail but rarely do they get the glory and today a funny thing happened on the way to my ego getting stroked.

We are waiting for final approval after submitting some new comparables to this lender for the home my buyer is trying to purchase and so I offered to pray with my client.  After completing my prayer and saying amen, my buyer started talking about how he wanted to thank me for how I was handling the whole situation, how I had stretched their faith, but also kept them at perfect peace during the whole situation...

Wow!!  I was thinking "I can't believe he sees my greatness... he is really heaping the praise on me... how am I going to say thank you in a modest way when he is done...?"  Than just about the time I was figuring out how to humbly accept his praise I realized that he wasn't talking to me, he was praying.

That's right.  Just when I started to be amazed at how someone finally was pouring out their praise and adoration for all the unseen work I did behind the scenes, I realized he wasn't even talking to me, he was talking to God.  That's when I started laughing because I had the distinct feeling that God was laughing with me because when it comes to not getting the proper credit He's been there too.

Michael Creel
InActive Agent - Bellevue, WA
Often I have trouble pulling comps on high-end water front properties, they just don't change hands that often, and theres often no homes truly comparable to some of these unique properties.
Mar 03, 2008 04:41 PM
Anonymous
Sheila

haha thats good!:)

 

Mar 03, 2008 04:51 PM
#2
Andy Elliott
Referral Network - Vancouver, WA

Finding comps for these is very hard.   I have been working on a lake front property here in Vancouver, WA.  I think the best bet may to find the price difference of a lake front lot vs. a non lake front lot.  Then find the value of the type of hoem finish you are looking at and add it to the lake front lot price.  It's not a perfect science but the house itself should have similar value it's the land that makes the difference so this makes good sense to me.  After that I would add 10-20% because the property is complete and a completed property on a beautiful water front lot is worth more than the idea of one on paper.

Mar 03, 2008 04:51 PM