THE MADRONA GROUP SUCCESS STORIES VIDEO SERIES
How To Win A Real Estate Bidding War | Success Stories [Video]October 26, 2020
How Many Times Can You Sell The Same House? [SUCCESS STORY VIDEO]November 21, 2019
WHY YOU REALLY NEED A REAL ESTATE AGENT TO NAVIGATE CHALLENGESOctober 24, 2019
What Happens When An Appraiser Calls Out Work That Needs To Be Done Before Closing?October 21, 2019
THE POWER OF RELATIONSHIPS VIDEO
WHAT DOES RELATIONSHIPS HAVE TO DO WITH WINNING LISTINGS?
In this video Jason Fox interviews Joe Kiser about a recent sale in which we represented the buyer and won a listing bidding war with a relationship.
We were working with a first time home buyer on this deal and they fell in love with a hot property that received multiple offers.
The listing price was close to our max and we needed a little help with some closing costs.
Watch the video to find out how a relationship was able to help us secure the listing despite not being the best offer.
NEGOTIATING A HOME SALE USING THE POWER OF RELATIONSHIPS [VIDEO TRANSCRIPT]
Hey everybody today I'm going to talk to Joe Kiser about the time we helped a client get a house where having a relationship with somebody in the industry helped us win the listing.
Joe, tell us about this family.
Well they called us up and were real excited they found a house that they liked and offers were gonna happen right away.
Wow, awesome, and so we probably had already sat down with these guys gotten them ready to buy, Buyer Ready day one?
Yeah unfortunately not, we worked a little backwards. I went out while the ether was hot and met them at this house and while we were there I called the agent. Found out there was tons of activity and while we might be able to still get an offer in, we weren't prepared for that house.
Yeah, not really ready for that one so what was the next step?
They had a lender they had been working with they so I reached out and introduced myself to her and started to build a relationship with their lender. She got them underwritten and ready to go.
Yeah all right, this is gonna end up paying off later.
You went out and showed them some more houses tell us about the house they liked.
They fell in love with this house. It was recent to market, a recent flip and they really went the extra mile on every little detail. It was beautiful. We're gonna write our first offer and there's already two or three other offers on it.
All right so here we go. We're in that market where we are always up against other offers.
I remember I called you and asked you how it was going and you thought we might get this one and you were really shocked. Why? tell me about it.
Originally when I talked to the listing agent she let me know they had offers in hand and that none of them had any closing costs and that was a big deal because they were worried about appraisal. I told her we're gonna be writing an offer but it won't have any closing costs. But when we started working everything out with the lender it turned out we needed closing costs.
I couldn't get a hold of the agent so I had to send the offer over asking for closing costs after we talked.
Ouch, that doesn't sound like a winner.
It wasn't. This is one were partnering with the right people, like you said, saved the day.
The small world we are in, it is a small world just remember that when you are writing these offers and working with agents, it turned out that the listing agent of this home had a preferred lender and it was the lender that ironically my client was paired up with.
The popular idea out there is that it's always about the dollars. It's just not always the case and relationships often trump. In this case the fact that that agent had experience getting good results from that lender that probably gave her some comforts and security. Even though we didn't present the best offer we got it.
Yep, there is a lot of communication that goes into that.
Awesome, and the end result?
We got to give keys to a happy longtime friend to their first home, it was real exciting.
Yeah it's the best.
Thanks everybody for watching!