Congratulations to both Eddie and Frank.
They waited a long while for this sale to be completed. From the very start it had its obstacles.
I called on an expired listing and met with both Eddie and Frank. They decided the time of year was not quite right for the cabin in the woods. They did want to proceed with information on their commercial property. I did some preliminary figures with verbals and got back to them. I sat with them and explained why I would like more details about the rentals. Communicated I did not want to mislead them with poor information. We got along, they trusted me, and in the end they gave me some detailed information so I could better advise and counsel them for the best possible sale of their property.
Commercial properties were being listed much higher than what I suggested. We sat for a long time with me explaining those properties were listed higher and they were not selling either. That was not by coincidence. I showed them CAP rates and how I came to the figures. It was astonishing to me the previous agent had not only ignored this but had also just let the sellers pick a price that they wanted. In two years there was little if any communication. These were out of state sellers who like many have their plans get caught up in 'life'. They made the decision to trust me and we were going to list it approximately $200,000 below their previous listing price.
I wanted to be sure I had everything correct. I liked Eddie and Frank both. They had placed a lot of confidence in me and in no way did I want to let them down. Going over plats and aerials for the listing I discovered the next bit of really bad news. They had been told they were buying water front property when they purchased. This is how they described it to me so this is where my confusion came in. The water front was showing as a separate small parcel. It was not theirs. Again the bearer of bad news. I explained I did not feel a need to lower the price more because I had not considered the water front a value to this property. It was steep to get to it and separated from their actual property by RR tracks. Eddie and Frank were relieved with this and yet understandibly upset someone had out and out lied to them.
I told them we would only do the contract for 6 months because I wanted to give them the choice of another Realtor® if they felt I was in anyway disappointing them with my efforts. When time for renewel came Eddie called me before I called them. Thanked me for all my hard work and yes definitely relist for what ever amount of time I felt necessary. Quite a compliment. Multi use property with office space, apartments, and storage units. All fully leased and had been thru the whole economic down turn. Unheard of, in this area, over the past 5 years or so.
So I was surprised it took 10 months from listing to close. Yet I feel a great sense of relief in knowing that I fulfilled my end of the obligation of the trust placed in me. I gave them what a Real Estate agent is hired for. Honesty, Communication, and always held their interests top of mind. I really think highly of Eddie and Frank.
We went thru some trying times together with viewings, offers, and even down to the final hours before closing and recording. Through it all they were a class act. We shared some good laughs together. Times of tension. And one listening to the other vent. Yes I had become that comfortable that I could vent. In the end it is a mixed good ending. Eddie and Frank live a continent away and the odds of me ever seeing them again are slim to none.
The best memories are those that bring a smile and knowledge it has been a good ship you passed that particular moment in your life. Congratulations Eddie and Frank on a well deserved Real Estate Sale. image courtesy of:
Stuart Miles Freedigitalimages
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" MARK DON McINNES - YOUR LOCAL NORTH IDAHO REAL ESTATE RESOURCE
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