I owned my own company in Downey, California and was the first agent to attempt a short sale. In the 1980's when these became popular, I was the first to negotiate successfully with some of the biggest banks in the state.
I not only was successful, I quickly became number 1. Many Realtors avoid these type of sales because they are tedious and time consuming. Some short sales took as long as 6 months. I was the first to negotiate with the Governor's office also.
They had continually just taken the fall and let all their homes go into foreclosure. I showed their representative that some money (in the thousands) was better than nothing. In the beginning they refused to deal and I simply told them to take a flying leap and not bother me. I told them "I do not work for free."
Needless to say, my phone rang and the negotiations began and we closed the deal. My first sale would prove to be my most profitable because they then would deal with me each time. I was then their paid negotiator on their side. Each time an agent presented them an offer, they would contact me to see if the agent was legit and if the offer was viable.
Time and time again I showed where the agent was a scam artist and trying to rip the government off. My reputation grew and before long I had more short sales than I could handle and would start referring them out. Regrettably there was never anyone who could do what I could do.
I had an escrow company ask me why I did these short sales. My commission was from 4.5% to 5% normally. Regular commission was at 6%. It was not just the money. It was about the satisfaction I got helping people. My clients would tell people how I was their friend, not their agent.
I became very hard core. You had to be tough when dealing with the banks. You had to know when to send flowers and when to stand your ground. My very first short sale was dealing with a lending corporation and I negotiated 3 liens. The owner would not sign the deal unless I went out with him, which I refused. I had to meet him at his office and I took my partner. There I looked him dead in the eye and told him he had till 6pm to sign the papers or the deal was over with.
At 5:50pm my phone rang. He signed the papers and offered me a job with his company. He told me that I was so hard on him and he wanted me to work for him. This offer I declined. From that day forward I knew that it was "SHOWTIME."
WHAT IS SHOWTIME?
Anyone in Real Estate knows what is showtime. Showtime is the time we become the best actors on the planet. We have to know our part and how to play the game. You cannot be sad or have problems. You cannot moan or groan. You have to know who you are dealing with and know how to sale the deal.
My Broker who I studied under, Carol Pearce, would say this each time she left the office. She knew who she was and how to act.
GIFTS
Carol got more gifts than any Broker I ever saw in my life. I was in awe of her. I wanted to know what she did to get so many gifts. She saved them money. No service is for free. It is common courtesy to give a gift when someone helps you. The Chinese always give $100 in an envelope. If someone helps you, pay them. Nothing is for free. If you don't pay, you have bad karma.
WHY HIRE A NEGOTIATOR IN ADDITION TO YOUR REALTOR
This is a question most ask. A Realtor lists a property for $155,000. In one week he brings a buyer of his to buy the property at $30,000 below asking price. He tells the seller this is a great buyer and they should negotiate on the offer. Negotiate he does to offer $10,000 more. You are still at $25,000 less than the listed price.
The agent is double dipping or gets the commission at both ends and so he represents the buyer and the seller. He must use due diligence. But can he? He knows the seller needs to sell and why and tells the buyer, he can get them a great deal. Has he performed due diligence now? No. He is now representing the buyer.
The seller is new and does not know what to think. First they want to sell the property, nothing is owed and they TRUST the agent. They may sign their life away or pay a Negotiator $150 to look over the deal, negotiate the price and get the seller more money.
The negotiator is an experienced Broker with knowledge of how the game is played and about contracts. The Realtor is not happy but he goes along.
A NEGOTIATOR IS AN ANGEL FROM HEAVEN
A good negotiator will know the game and works to get you a better deal. Nothing is guaranteed but many times a Negotiator can save you thousands of dollars. Nothing is for free. The small fee is tax deductible and it is a service that you can feel secure with.
They have due diligence to only you and can guide you in escrow and closing. When handling any transaction, don't you want the best? Hire your negotiator today.
Pay here.
No comments:
Post a Comment