Sold - Finally!

By
Real Estate Agent with Re/Max Chay Realty Inc., Brokerage RECO Reg# 4325734

After Five months of consistent Marketing, 4264 Hogback Road is Sold!
4264 Hogback Rd. Glencairn
Closing in less than a month, the Seller can now achieve his goal of moving to a desired community.  This Seller had his home listed prior to me with two other brokerages for almost a year.

It was suggested to him, that his home would not sell unless he reduced his price into the $240's.  He walked in to my office a very frustrated man.  He told me he had not had one showing in over three months.  He told me he had just "fired" his agent and wanted to know what I would do to help him sell his home.  He shared with me that his home represented a large portion of his nest egg and that he wanted/needed to net as much as possible.

I suggested that all was not hopeless, and discussed "re-branding" his property.  I told him that I felt the key to a successful transaction would be to find a Buyer that appreciated the intrinsic beauty of his home, things like the mature landscaping, the views both front and back, the large private back yard, the open concept layout and the oversized garage.  We (he) removed some older and stained carpet in his basement and installed a laminate flooring.   We chose an ambitious market price of $289,000, $10,000 higher than his last listed price.

I took a minimum listing (60 days), and told him that I understood he was wary of realtors and I was willing to earn his trust. I knew this was risky. 

During the sales process, he would call me, frequently, and talk about his frustrations with his home selling process, and many times I had to remind him that I was responsible only from the time we negotiated to have me market his home.  He was not upset with me, my marketing or my effort, just sharing his frustration with a process which, for him, began over a year ago.  Some times all I did was listen...

During this time period, I marketed the property per our plan, held strategic open houses and had 18 showings (including four by me), and nine people through during two open houses.  We received an offer that was never actaulized. 

By the end of May he felt comfortable enough that I was the right realtor for him and extended his listing by three more months. 

About six weeks ago, circumstances changed for him.  He told me there was an urgency to move as fast as possible.  We discussed alternatives and pricing and reduced the price by $15,000 to $274,900.  I called back buyers I had introduced and agents who had shown the property and informed them of the price reduction.  We received an offer (conditional on the sale of the purchasers property) within one week, and after some negotiation, accepted a price a few hundred dollars less than list.  The backup property sold in one month, and now he has the happy issue of finding a new home.

He has been so happy with the service he has received that he has already referred me to two other people and his brother, who is not interested in selling at this time, but will consider me when the time comes. And I am in the process of referring him to a Buyer Representative, once we narrow down where it is he wants to call home.  Perhaps I spent more time with him than normal, in the end, it was worth it.  I now have another "raving" fan =)

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Topic:
Real Estate Market Trends
Location:
Ontario Simcoe County Glencairn
Tags:
4264 hogback rd glencairn

Comments 23 New Comment

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Show All Comments
Rainmaker
824,084
Marc Swartz
CPA, CA - Toronto, Durham & York Regions, Ontario

Hi Chris - A well done job to help the seller move on with his life.

September 02, 2012 05:06 AM
Rainer
102,264
Jessica Holtzman
Real Estate Agent in Southern New Jersey, CDPE
Keller Williams Realty, Inc.

Chris congrats.  We all get listings that take a little longer to sell.  Seems like you really pushed for this one and your sellers should be thrilled with you! 

September 02, 2012 05:18 AM
Rainmaker
1,881,171
Roy Kelley
Roy and Dolores Kelley Photographs
Retired Real Estate Broker, Maryland Blogger

Congratulations, Chris, on another successful transaction.

Enjoy the holiday weekend with your camera in hand.

September 02, 2012 05:21 AM
Rainmaker
563,324
Chris Smith
South Simcoe, Caledon, King, Orangeville Real Esta
Re/Max Chay Realty Inc., Brokerage

Thank You Wandanna

September 02, 2012 05:58 AM
Rainmaker
563,324
Chris Smith
South Simcoe, Caledon, King, Orangeville Real Esta
Re/Max Chay Realty Inc., Brokerage

You are very welcome Michelle, thank you.

September 02, 2012 05:59 AM
Rainmaker
563,324
Chris Smith
South Simcoe, Caledon, King, Orangeville Real Esta
Re/Max Chay Realty Inc., Brokerage

Carolyn, I, as a rule, never take 60 day listings... but I felt his frustrations with organized real estate, and realized by walking into our office, he still felt that organized real estate was the best option for him to realize his goal...  After talking to and listening to him, I felt if I could earn his trust and respect, then all would be OK.

September 02, 2012 06:01 AM
Rainmaker
563,324
Chris Smith
South Simcoe, Caledon, King, Orangeville Real Esta
Re/Max Chay Realty Inc., Brokerage

Marc, as you well know, this is the best part of our job.

September 02, 2012 06:02 AM
Rainmaker
563,324
Chris Smith
South Simcoe, Caledon, King, Orangeville Real Esta
Re/Max Chay Realty Inc., Brokerage

Jessica, there were people, in my own office, that would run the other way if they saw my seller coming and joke with me after the fact... but I knew he really wanted to sell, and move.  As you know, sometimes the value of a transaction is much more than the dollars we make on a deal.  His good word will lead to more business!

September 02, 2012 06:04 AM
Rainmaker
563,324
Chris Smith
South Simcoe, Caledon, King, Orangeville Real Esta
Re/Max Chay Realty Inc., Brokerage

Thank You Roy.  This one was not easy.  Hope you are enjoying Labour Day weekend!

September 02, 2012 06:05 AM
Rainmaker
967,675
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Hello Chris -- what a great success story - for your seller and for you.   You handled the transaction appropriately and very professionally.  While it took a bit longer, the important thing is that you were able to navigate through all of the angst and frustration that eventually led to a closed transaction.  Congratulations.   Nicely told.  Nicely done.

September 02, 2012 07:07 AM
Rainmaker
951,458
Kathy Clulow
CNE - ASP - SRES .... Uxbridge Ontario Real Estate
RE/MAX All-Stars Realty Inc. Brokerage

Chris - Congratulations ..... while price is often the issue for some homes it can also be marketing, a little sprucing up and or timing that makes the difference. It takes the skill set of a competent Realtor to pull all this together and you did it congratulations.

suggested

September 02, 2012 08:26 AM
Rainmaker
447,863
Malcolm Johnston
Trenton Real Estate
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario

Well done Chris, you certainly earned this cheque. These are the type of listings that really can be frustrating, and there's nothing we can do other than soldier on and keep marketing diligently.

September 02, 2012 10:13 AM
Rainer
639,029
Carl Winters

Congratulations! Goes to show consistency pays-off.

September 03, 2012 04:47 PM
Rainmaker
1,226,615
Al & Peggy Cunningham Brokers, Brampton Ontario Homes For Sale 905-450-5500
RE/MAX Realty Services Inc.

Aww Chris CONGRATULATIONS!! This is SO you and that guy was lucky the day he walked into YOUR office. You should be proud.

September 04, 2012 09:01 AM
Rainmaker
1,772,648
Gabe Sanders
Stuart Florida Real Estate
the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales

Well done Chris.  Looks like you went above and beyond and deserve the accolades being given.

September 05, 2012 03:34 AM
Ambassador
1,722,096
Barbara-Jo Roberts Berberi & Corinna Birgit Cromartie
Palm Harbor & Dunedin FL Residential Real Estate
Charles Rutenberg Realty

Congratulations on getting another one SOLD, Chris!!!

September 07, 2012 12:45 PM
Rainmaker
1,881,171
Roy Kelley
Roy and Dolores Kelley Photographs
Retired Real Estate Broker, Maryland Blogger

Have an outstanding weekend and be sure to have your camera in hand to capture the special moments.


September 07, 2012 07:19 PM
Rainmaker
146,972
Dana Basiliere
Making deals "Happen"
Coldwell Banker Hickok & Boardman Realty

Chris,

I love this story. Good job on earning their trust and getting the job done. You were truly working for his highest and best interest.

 

September 08, 2012 08:12 AM
Rainmaker
1,881,171
Roy Kelley
Roy and Dolores Kelley Photographs
Retired Real Estate Broker, Maryland Blogger

Have an outstanding weekend with your camera in hand.

September 14, 2012 06:21 PM
Rainmaker
1,881,171
Roy Kelley
Roy and Dolores Kelley Photographs
Retired Real Estate Broker, Maryland Blogger

Have an outstanding week with your camera in hand.


September 16, 2012 06:28 PM
Anonymous
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Show All Comments
Rainmaker
563,324

Chris Smith

South Simcoe, Caledon, King, Orangeville Real Esta
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