"I Will Not Let You Down."

By
Real Estate Broker Owner with J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY
http://actvra.in/m4r

J Philip Real EstatePeople are hurting in this economy. Many good folks who did nothing wrong are caught in the undertow of the recession and can't find a soft spot to land. Upon occasion, I run into people in those circumstance. If they had been born at any other time in history, they wouldn't face foreclosure. They'd have equity, probably their job, and even if they were in a pinch they could sell and realize respectable proceeds. But not in this day and age. 

The worst part of owning distressed property is not financial. It is emotional. Most people that face bankruptcy or foreclosure know where their next meal is coming from. But they don't know what the next mail delivery will bring or who will be calling them the next time a phone rings. Add to that the fact that in Westchester, even modest homes have high prices compared to most of the country, and the hole they stand in seems deeper. 

Today, I explained to a new client what I always say to anyone facing foreclosure:

I will get this done for you. I promise you my very best, and frankly that is pretty good. I will not let you down. I have done this sort of thing over 50 times. I like your chances. 

And with that, my brand new client burst into tears. In a sea of collection calls, nasty letters, a failed loan modification and 2 years of financial setbacks, someone they were referred to by their lender out of the CDPE directory told them that they finally had an ally. 

Ronnie, my admin, had to run and get some tissues, and Mr Seller did what he could to comfort his wife. But the whole thing was cathartic. 

And maybe I sound cocky, I don't know. All I do know is that we have a track record, I have an awesome team, great lawyers, and a support staff on the admin side that cares as much as I do. I put my good name on the line when I make promises in the face of the unknown, but thus far we've been pretty fortunate. The last short sale application that failed and ended in foreclosure was 2007 (and the bank took a six figure bath). The rest closed. 

My clients left the office out a few tears and also having shed some worries as well. For the first time, they had a plan. And a team. And professional help. All my best. Typically, my best gets the job done, and I am not afraid to reassure my clients. Some people need to hear it. 

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Re-Bloggged 2 times:

Re-Blogged By Re-Blogged At
  1. Dorie Dillard 10/28/2011 05:19 PM
  2. John McCormack 10/29/2011 09:18 PM
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Topic:
Home Selling
Groups:
40 Somethings
BananaTude
Bartender, Make it a Double
Short Sale REALTORS®
Westchester County
Tags:
short sales
cdpe

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Rainer
28,345
Jayson Holland
Jay Holland
RE/MAX

Love it! Way to go. Sounds like you have every right to be cocky. Attitude is contagious. To be the best you have to be the best. I also love to be able to look people in the eye and say "I wont let you down" and know that I wont. That is one reason why we do what we do....to wear the super hero cape.

 

Although they walk through the valley of the shadow inventory, they need fear no evil, for J Philip is there with them, ready to stare down the evil and conquer it!  :-)

 

 

October 31, 2011 12:06 PM
Rainer
10,153
Corianne Fugate
R.W. Price and Associates

Your post is uplifting - and no, if you do what you say it's not being cocky!  The hard part of trying to help the folks in this situation is that they seem to wait til the last minute to search for the help they need instead of searching for help the minute they know they are going to need the help.  I am finding that many of the folks calling our office have waited too long. We have been able to help a few - just not all.

October 31, 2011 01:01 PM
Rainer
18,049
Terronald Logan
Realtor, Homes for Sale - Austin, Texas
Keller Williams Realty

You are clearly a great agent looking out for the best interest of your clients and doing your best to come from contribution in order to get their goal of releasing themselves from this financial burden.  The real objective, like you did, is to treat these clients as if they are our loved ones.  How would you talk to them if it was someone you really cared about?  What you are doing is truly saving these people, whether they know it or not, and they are lucky to have you versus another agent who's just out to put a sign in the yard and take another listing.  Good for you!

October 31, 2011 11:24 PM
Rainer
107,973
Stu Dye
The Mortgage Guy
RMS Mortgage

J Phillip,

I'm a little behind in my AR reading, but I felt compelled to comment on your post.

Keep up the good work and more importantly, the good karma...  The industry needs more "can-do / will-do" people like you and your team.

Happy Sunday!

-Stu Dye

November 06, 2011 10:38 AM
Rainmaker
334,058
Sylvie Stuart
Home Buying, Home Selling and Investment - Flagstaff, AZ
Keller Williams Check Realty 928-600-2765

Distressed property owners are stressed out and overwhelmed, it's great to give them the confidence and reassurance that there is help in their situation. We can offer a lot of comfort in a time of need. Congrats!

February 13, 2012 08:42 AM
Anonymous
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Rainmaker
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J. Philip Faranda

Broker-Owner
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Additional Information

Phil Faranda is broker and owner of J. Philip Real Estate LLC in Briarcliff Manor, NY. Since founding the firm as a sole practitioner in late 2005, the team has grown to over 30 agents & closed 350+ transactions valued at $140 million. He is in his 4th term as Vice President of the HGMLS. This blog commentary is geared toward consumers and industry colleagues alike. You can reach him at (914) 723-8900.
Warning: *Sarcasm and irony advisory at all times.*



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