I DON'T NEED A REALTOR - MY BROTHER IN LAW IS A LAWYER!!!

In the world of real estate there are really only three things regarding property - these are location, condition and price.  The last being the variable.  Now as  your realtor my three main concerns are price, terms and conditions.  It amazes me that such a simple concept can prove to be so difficult.

I recently got a call from a prior client asking if I would help with a real estate problem.  His problem was he owns three small apartment buildings on a small cul de sac, with only one more building of seven units left with another owner.  The owner of the last building  had approached my client asking if he would be interested in purchasing his units.  Thus giving my client control of the street and enhanced future potential.  It really is a win, win situation.  So why would you involve a realtor at this point - why not have your lawyer write the deal, surely it would be less expensive and easier.

Not so says my client, although he has an excellent lawyer, the lawyer is conservative by nature and his efforts to protect his interests would jeopardise his position.  As he both wants and needs the fourth apartment building.  The seller is way out of line on the price, my client is willing to pay $5,000. per unit more than anything comparable, but not $20,000. - this is something more capable to a realtor.

I remember a past deal I did for a non profit organization looking for a larger space.  After about a year we found a school closing that fit the bill.  Now these deals are done by tender on school board forms and no commissions are paid.  Bearing  in mind it is has a  charitable status, I agreed and made every  effort to assist them fill in their offer.  This organization also having  a board of directors - decided their attorney  should review the offer.  He promptly made several changes for their protection.  When the lady who really ran the operation protested that the school board would not accept those terms - his response was - then we won't buy!

I often hear people say the day of the realtor has become obsolete, it may be changing but is far more difficult than it appears - we do fill a function.

 

 

 

 

 

 

Harold Pope

Harold Pope

Sales Representative
CENTURY 21 New Age Realty Inc., Brokerage*
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