House for Sale

#THECLOSERSDAILY : EPISODE 271: DON'T BUY IT

So this episode is a warning message to you guys and also very simple. So stuff is being relisted and sold on a daily basis. Find out what the history of that property is. There was a multifamily property that we saw hit the system yesterday that we had under contract about five months ago. We had it under contract around 370, and then we found out the windows were improperly installed. You're likely looking at another $20,000 to re-add that property. Now, in the interim, the selling agent ending up finding their own buyer and selling it for 390 to their buyer. Hit the system again today after they did $50,000 of improvements, and it's listed for 420. Now, do that math, add in, say, a 5% real estate selling commission, and think about how much money that purchaser is losing. So don't rush into something just 'cause you're scared to lose it. Take your time, do your due diligence, do proper home inspections. Especially getting into the spring months, people can get excited about owning properties and stumble into problems.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 151: HONEY WE LOST THE BUYER

So real estates' got a lot of gray areas as you've seen the past couple episodes. Sometimes there's no, "yes" or "no" answer to your questions. Sometimes it kinda lies in between. So we're gonna cover another topic when it comes to the gray area, and that's giving people that sense of urgency when they're showing your properties. You know and maybe implying that you have offers coming or being so firm with the fact that you have an offer in hand that they're gonna have to compete. It's gonna go way over asking, and turning off buyers before they've actually seen the property. We've seen situations where, buyers on a tour get notified right ahead of going to the property that there is an offer on the property, and they just shutdown. They don't even wanna see it. They don't wanna compete. And what ends up happening? The offer doesn't end up getting accepted and those buyers have bought something else. So you gotta be super-tactful about how you do it about the approach that you take with the other agents. That you don't turn people off at the property. You wanna keep as much interests as you possibly can to drive that price up. This property behind me is coming on market. Stay tuned.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 141: A BIRD AND A BUSH

What's up everybody? Episode 141 of The Closers Daily. So got a real life true story for you that we're gonna be monitoring over the next little bit. So we'll talk about it again in a future episode. Here's the scoop. Vacant piece of land listed for sale. Was on the market for a long time. Buyer low balls them about a year ago. Seller dies in the meantime and I guess what they ended up doing was saying "Hey listen we can't take any offers on the property. It's going to probate". I know they got called by about four different people. They were all excited about the lot. They didn't take any offers, any type of conditional offers coz obviously they couldn't deal with them and they just relisted the property now. The tricky thing is they upped the price thinking all these people are still around. I know for a fact that at least three of them are gone. So they'll be lucky if even the first person is still sticking around and the fact that they jumped the price, they maybe singing crickets. So you know I would always advise, work with your real estate agent, work with your lawyer. If you have interested parties, find a way to except an offer even if it's conditional on ending the probate so then that way when it comes time to close on the transaction and we have the conditions, you still have that high high price that you got from that sense of urgency and --

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 131: NEWBIE MISTAKE

I'm Justin Konikow. Welcome to Episode 131 of The Closers Daily. Gonna pair this up with a recent sold that we had at 994. The trail in Grand Bend Huron Woods. Actually one of the first houses that was ever created in the subdivision. Super emotional sale for the sellers, and super emotional sale for us. We're happy to get this to successful conclusions and move on to the next phase in their life. But it's an interesting thing for real estate agents when you're putting sold stickers out. There's a rookie move that a lot of agents make, and it's actually putting up a sold sticker on a conditionally sold property. You may see that from time to time, or you may not see a sold sticker on a property while it is conditionally sold, and at the very last second, they put a sold sticker up without getting the actual notice of fulfillment or waiver of conditions, and then the deal actually falls apart. One lesson you'll learn, real estate is only put up those sold sticker once you get all your documents signed and everything is actually presented. Don't even call your seller and tell them it's a done deal until it's actually a done deal, because you'd be surprised by what could happen between a phone conversation and getting those documents.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 69: WHOSE SIGN IS IT ANYWAYS

The Closers Daily Episode 69

First up, big thanks to everyone who's been following the series. You're fueling our fire with all your feedback and comments so keep them coming. And we're gonna cover the sold signs on a property. So, typically when I list a property, the way it works in our market is, I put my sign up, if I sell the property then I put a sold sticker on it. If you see a sold sticker on it, does it mean that I brought the buyer? Not necessarily. In this case, yes, but in a lot of cases when another agent brings their own buyer, the listing agent is still the one who gets credit for the sale. Back in the day in places like New York, agents would list properties and they actually wouldn't cooperate with a lot of other agents. They would try and double in the property every single time, find the buyer and get the whole commission. Real estate market's changed quite a bit, we now offer what's called a cooperating fee. So, if I list a property and I agree to a commission with my seller, I'll give away a portion of my commission to another agent who can bring a buyer. Incentivizes everybody to try and sell the property and it opens up the market to quite a few more buyers but the agent that listed the property initially does tend to get credit for the sale. I only saw one instance where the buying agent asked to put a sign up, but...

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”