This really happened. I got a call about one week ago from clients who had seen my advertising on Trulia. They wanted to know if I could show them some homes that day. Honestly, I never turn anyone down. If I have appointments, I just see them after other appointments. As it turns out, that day my afternoon was free. So, we made an appointment to meet. After making the appointment, I asked if they were going to pay cash or if they needed a mortgage. They said cash. Then, I asked if they were moving here and needed a primary residence, vacation home or if they were investors. Primary home was the answer (the reason for this question is that some neighborhoods in my area don't allow investors and renters). I asked what they were looking for - price, size, area, garage, yard. With those few questions, I had everything I needed. So, how did I do it?
Please bear in mind as you are reading this blog, that our area has a shortage of inventory. We have more buyers than sellers. In some priceranges, the home will get 15 or so offers - most of which will be for cash.
1. Know your area inventory very well.
On days when I have few appointments, I will just look through the MLS to see what is available and what the property has and its pricing.
2. Visit all the new home communities in your area to see what they have and what they are offering. Some offer all upgrades included in the price. Some just offer a home so basic it is disheartening to see what you get for $200,000. It is important that as you drive by communities after finishing your appointments, you go in and visit with the sales agents. Once you get in the habit of doing this on a routine basis, then you know what these communities offer. You can bring clients there now and get paid; on the other hand, many of those homes will be up for sale in 2 years and your area will have them in inventory. You already know what they look like since you have previously visited.
3. Listen very carefully to what your clients want.
If they say the last thing they want is a yard, show them something with a small patio and no maintenance. If they want a certain budget, don't pull things $25,000 over budget to show to them.
4. Run an MLS search based on their criteria.
I found 25 properties that would fit their price and criteria. From that group, I looked at the pictures of every single home and read all the information for each property. Short sales were out since they needed a home right away. They had sold their home in another state and sold everything and were now living in a hotel. I narrowed it down to 8 to view for the day.
5. Visit all the properties that you have selected for the day. When you make appointments with homeowners, don't ever stand anyone up. If after driving up to a home, the clients say they don't want to view it, call the homeowner and cancel your appointment.
Courtesy goes a long way in this business.
6. Ask your clients which home they like best - A or B? Assuming their choice is A - then ask if they prefer A over C or A over D? etc.
7. Go back to the office and write the offer.
Advise your clients not to come in too low or at an unrealistic price. The home in this market won't sell for $60,000 BELOW list price. Usually, this market is list or above for certain priceranges.
8. Confirm with the listing agent by phone that the offer has been received (very important step).
9. Cooperation on everyone's part is extremely important.
The clients called on a Thursday. The offer was accepted on Friday. The escrow was opened Friday. Their money was wired to the Title Company on Friday. We did the home inspection on Saturday. We had the HOA docs and HOA demands on Tuesday. We signed on Wednesday and recorded and they moved in Wednesday night -1 week from the start to finish.
I told the listing agent, my clients needed a home rapidly. His office did everything they could to cooperate. They put a rush on the HOA docs. The title agent was very experienced and did everything she needed to do rapidly as well. In short, we all worked together and got it done!!!
Obviously, this would not have happened if the seller had a mortgage, or the buyer needed a mortgage and we had to wait for docs. In this case, however, the stars aligned. No mortgage was necessary; none had to be paid off and my clients got a home in one week. It is always a good feeling when you can help someone. It is an especially good feeling when you can get someone into a home quickly so their costs for the hotel would cease.
I know now you are all thinking "What kind of a place did I get? Something no one wanted?" Actually, I found them the most beautiful, well-kept vacant home which had custom paint, beautiful carpet with heavy carpet pads, upgraded kitchen, upgraded appliances, granite counters, center island, upgraded restrooms, incredibly expensive upgraded lighting fixtures and custom blinds and drapes. Additionally, the home included all the appliances plus a BBQ grill out back. The home was magnificent. AGAIN, REALTORS, KNOW YOUR INVENTORY. If you know your inventory, it makes it that much easier to accomplish what we did in such a short time!!!
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