My Really Big Real Estate Deal
Well, I didn’t have to think for a second about what I would write about when I read about this challenge.
I had an Internet inquiry and appointment to show a $50,000 house on a Saturday morning. It was in a part of town I really didn’t want to meet a stranger in, so a girlfriend and I went to breakfast, then met the prospective Buyer.
We looked at this worn and shabby home, and you would have thought we were in a castle. The Buyer loved it.
Obviously my first question for this client was what type of financing she had. She told me she was paying cash. I about fell over. This woman was dressed in work clothes and her vehicle was about to fall apart. Where did she get cash?
She was caring for a long-time friend who was in a wheelchair and had a degenerative disease, and his mother left her $50,000 to continue to care for him. She had a few other sheep in her fold and wanted to find a home that was wheel-chair accessible and would accommodate her entire crew. Lorrie owned a tire store and had several long-time employees who she considered family too.
I can’t remember why this first house didn’t work out, but we looked at about eight other homes before picking “the one.” We paid $42,000. My client Lorrie was 62 years old and had never owned a home before. She cried when we wrote the offer, cried when it was accepted and cried at inspections – and not because we found live termites.
She was overjoyed to think that SHE could own a home and provide a safe environment for those near and dear to her.
Somewhere along the transaction, she thanked me for showing her houses. She said she had contacted numerous Realtors who wouldn’t give her the time of day.
It was certainly the lowest commission I’ve ever made in my life, but it was an experience I would never trade.
It taught me several things. It taught me not to assume that a client can’t afford to purchase a home; and it taught me that the $42,000 Buyers are sometimes more rewarding than the $420,000 Buyers. It taught me that I will always MAKE time for first-time Buyers, and that even when the commission is low, that Buyer deserves excellent representation too.
So, here’s a photo of Lorrie laughing, smiling and crying at closing. When we left the Title Company, she tried to give me a tip (money). I assured her I had already been paid – and she assured me that I would have a discount at her tire store for the rest of my life.
Content written and published by Lori Cain.