Recently by Holly Hall Wilson

So I started today with a close. My sellers opted for a FAIRLY traditional model, but they did such an outstanding job on their part that it made my job easier and we've actually closed less than 2 months after listing. Since I'm my own Broker, I don't have to fill out any Disbursement Authorizations. My paperwork is usually a rebate from the traditional 3% and I back out the fees that I normally incur and we do a line item credit. Can someone help me with the way the handle the paper trail for the HUD? Do you provide the title company with a flat fee or do you "discount" ?

Buyer Update

  1 Comment

Story for fellow ACREs to appreciate.

Around a year ago, I started an on-line dialog with a buyer from another state who was looking to relocate in my area. We had numerous phone conversations and discovered he even lived in my old neighborhood in Portland, Oregon. One day I get a phone call from him saying he was in the area and wanted to view some properties. I thought," Somewhere between Oregon and Texas it didn't occur to you to phone ahead and make an appointment." Allowed, I only informed him that I was on my way to a funeral and wouldn't be available to show him anything, but I could refer him to another agent. He asked if I could show him properties later that day. I said I honestly didn't anticipate being in any shape to work afterward as the deceased was a very close friend of the family. Would he be ok with looking tomorrow? The buyer told me that would be fine.

Later that afternoon, I was reading my email and found one from him saying that he was driving around and found some properties he wanted to look at, so he started working with another Realtor, adding "I'm sure you understand." So last week I get another email from him saying it didn't work out with the other agent, but they were going to buy something in the next couple of months and he wanted to work with me. I told him, I was an Accredited Consultant in Real Estate and I would help him for x bucks an hour credited back at close.

After he's already shown his true colors, I wasn't thrilled at the prospect of working with him, but I have to admit, getting paid whether he buys or not sure makes me feel better. Thanks ACRE!

Much like Paula, I tend to run myself into the ground running a business and trying to please everybody. As a result, I lose sleep, work 75 hours a week (minimum), and my family and health suffers. I realized I either need to clone myself, or reduce my work load in order to have a more balanced life and enjoy time with my family. I have clients that I love, and a couple of clients that make my stomach hurt when I talk to them. You ever have one of those? After a very stressful transaction with a seller where I was ultimately required to go to federal bankruptcy court in order to get her to comply with a contract and vacate her house, I decided there are some commissions that cost more than the pay check I receive. Personal satisfaction needs to be factored into the equation and I am eliminating any uncooperative clients that I have on the books.

Since I made that decision, I have refused to take a listing and terminated a listing with a seller who falls somewhere between motivated and desperate. This particular seller has refused to adjust his price to meet the current market, refused to show the home on 3 occasions in the past month, and has taken in 14 cats and a vicious rottweiller since I first listed his property. These are the actions of a man that continually tells me he HAS to sell him home in a neighborhood where 30% of the houses are for sale and his is now the highest priced. After being disrespectful to me during our last conversation, I sent him a Termination of Listing and removed his home from all internet and print marketing. I know sellers faced with possibly losing their homes look for someone to blame, and I have excused poor behavior in the past knowing the stress they are under. NOT ANY MORE.

OK, so I'm embarrassed to admit, I'm an ACRE that still seems to do business the old fashioned way. I have presented the consulting option to sellers, and they've chosen the full listing package. However, I've truthfully been reluctant to ask buyers to pay up front. In one particular instance, though, I made the leap effortlessly when a person contacted me after they said they had read my column in a local rag. She told me she had some property in town that she needed to consider putting on the market and wanted to know what her options were. I told her what I would charge to do an analysis. She didn't blink and wrote me a check. This is the interesting part, I had assumed she had read my column on consulting and that she was expecting this. Turns out, she had only read a column I had written months ago on commercial real estate and had never heard of consulting, yet she was wiling to pay for my expertise.

I honestly haven't had the confidence to introduce the concept of asking for money up front when there are so many REALTORS in my town waiting in the wings to give it up for free. I've avoided what I had anticipated to be a difficult discussion until I thought the client already knew what was in store before they contacted me.

I've learned my lesson and I'm wiling to share. Anyone waiting in the wings to actually jump in and practice what's been preached, learn from me and NIKE. Just Do It.

This page is an archive of recent entries written by Holly Hall Wilson.

Find recent content on the main index or look in the archives to find all content.