Home Buyers and Homeowners have asked me; “Why should we use a Real Estate Agent to buy or sell property when it’s all on the internet?” I’ve answered this question many times, with different scenarios, but there’s nothing easier to remember or relate to, than Real (estate) Life Experiences.
Except the address, this is a Non-Fiction story in the category of; “You Can’t Make This Stuff Up!”
In the last 60 days, I’ve sold one single property two different ways; first as a Buyer’s Agent and the second time as the Seller’s Agent. How? Good question. In February, I showed a property to a Buyer Client, we’ll call it 123 Main Street, Port Washington, NY. The property was listed with a Real Estate Agent for 6 months with an asking price of $715,000. I negotiated for two weeks on behalf of my Pre-Approved Buyer Client and was able to arrive at an agreed purchase price of: $675,000 with terms: 60 days to close, 80% LTV with a Mortgage Commitment from my in-house Wells Fargo Mortgage Banker. Wells Fargo Bank and I have an exclusive agreement that they will issue a Mortgage Pre-Approval Letter during a 10 minute phone conversation and generate a Mortgage Commitment Letter (if qualified) in 5 business days, with “no fees” to my clients. These terms allowed My Buyer Clients to prevail over other Home Buyers and their agents.
Between the negotiation period and the contract, two things occurred: 1. the listing agency’s exclusive agreement expired and 2. The Home Buyer was offered a job opportunity in California that he couldn’t refuse; therefore, I retracted his offer to purchase 123 Main Street, Port Washington, NY. The Seller and his agent weren’t happy, nor was I, but it was a legitimate reason and these things happen.
Two weeks later, I received a call from the homeowner of 123 Main Street. He had been impressed with the way I negotiated for my Buyer Client and said, “I want you on my side.” I relisted his property 4 days later and as the Seller’s Agent, I conducted Open Houses for 4 consecutive weekends. I received several offers in this short timeframe, but this time, I negotiated on behalf of the Homeowner. The property is presently under contract for: $699,000 with terms: 30 days to close, with an all cash offer.
What’s the take away from this? As a Buyer’s Agent, I negotiated the Best Purchase Price and saved my would-be Buyer Clients $40,000 dollars from the asking price. As the Seller’s Agent, I negotiated the Sale Price to only $16,000 dollars below the asking price and $24,000 dollars more than he had accepted only 60 days earlier.
I can’t offer a better example as to why you need a seasoned Real Estate professional to negotiate “On Your Behalf and In Your Best Interest.” My 28 years of experience will Save You Money on your Purchase or Procure the Highest Sales Price and Best Terms for the Sale of your property.
Contact me to discuss Listing your Home for Sale or to Find Your New Home. Either way, You Want Me to Represent Your Best Interest. The National Association of Realtors Accredited Buyer Representative.
William N. Bodouva, Jr. Licensed Associate Broker Laffey Fine Homes, Member of Leading Real Estate Companies of The World, Luxury Portfolio & Juwai Luxe China’s #1 Portal
Cell: 516-815-6600 E-mail: firstname.lastname@example.org