So big deal right? I sold 10 Duplex Buildings in Kearney, NE. Whoopee!!
If you have been in the real estate sales business a while you will hit on this kind of deal. So why brag about it?
Back story first: I am fortunate to have some very loyal clients. Some are Super clients...the ones that do many deals and keep you in the loop!!
(not to say I have not had bad clients who left me out in the desert of real estate...thirsting for the water that I had earned...ie: commission!)
This particular Super client was referred to me by another loyal Super client about 4 years ago.
My current client and I have already done muliple projects together including having me represent him in the original farmland to commercial land purchase...
then a 2nd farmland parcel purchase to double his ownership and then help him develop and sell 10 of the Lots of the new commercial subdivision that he is developing. We spent almost 2 years on this project.
Only have 2 lots left...Call Me!!
He and his wife have been very trusting in my knowledge... (whenever I mention he..."he" equals both of them as she does have veto power or "whoa, let's talk this through" power in what we are doing).
They referred her parents to me to sell their home and help them buy another one in 2022.
My client came to me this early fall and said his accountant told him he needed to spend a lot of money on real estate or his tax liability was going to be huge because of his main business having an exceptional year. This would normally not be a problem...except this year in our market there are almost no multi-family properties available. Especially in the price range he needed.
SO how do you find this need when the solution is not in the MLS or private market? Pick up the phone and dial the owners of all the properties that fit your profile. If they do not answer or return your calls...track them down and say Hi face to face. If you were diligent prior to this timeframe, you have already made previous contact with those owners.
In this case I identified properties that would fit our needs and got a yay or nay from my client on whether to pursue contacting owners and making offers.
On this complex that my client bought...I had sold a duplex right next to it 2 years ago and believe that was helpful this time. I was up to date on the market, the rents, the condition and it also helped that I knew the owners. So it was ring ring time. The sellers had no intention of selling they said.
After a number of back and forths on the price, we finally found a sweet spot for both parties. We were tight on time but got it closed on 12-29-22.
In my career, I have always had one singular goal for every transaction: To have 3 parties Happy after the closing... The Buyer, the Seller, and my wife! If all three of them are Happy that means I am ecstatic!
The bonus this time is the sellers have other properties they will be liquidating in the next few years. And I am now their Broker for real estate...their words.
The first deal 4 years ago I ever did with my Super client was: A tiny home that he bought at auction for $9,000 and was going to rebuild...we listed for 26k and sold it as is for $17,000 with a fixed fee commission.
A few weeks later they bought an apartment complex for $800k. See building below
Moral of the Story: You and I have no idea who our next client may be...they could be in the vehicle beside us...in front of us at the store...a close friend...or friend of a friend. Who knows...maybe even your residential client is buying or owns other types of property...have you asked?
Don't be afraid to talk real estate. Don't be afraid to pick up the phone. Don't be afraid to work with a small buyer or seller...virtually every real estate mogul was a small buyer in the beginning. Forget about age of buyer or seller...that also is becoming less and less of a factor to me.
Here is to a fantastic 2023 and if you have not started working hard for the year yet...it is time to get up and get going.
Be smart...be positive...and be efficient with your time...and ask the questions.
Make them tell you no! Sometimes they will say YES!!
Until Next Time...Mike
Aww... Michael Jacobs Yes the fish tales....there are so many more stroies that can be told about this client and our interactions both professionally and on a peresonal basis...and those shall remain for another time!!