A MONTHLY SPOTLIGHT ON HOW WE GET DEALS DONE.
Second Time's A Charm
Timing is a key variable in real estate. And in a tight market with limited, desirable options in top neighborhoods, maintaining strong relationships with other agents and persistence are essential to delivering for your clients.
I was introduced to my clients, a nice, young couple, by another client who had worked with one of them. They were renting in the city and eager to establish roots in Lincoln Park.
Shortly after meeting in February, a beautiful, move-in ready townhome hit the private market. I knew it would sell quickly, so I scurried to schedule a showing with the listing agent whom I knew well. We were the first prospective buyers through the door. As timing would have it, the husband was away on business, so his lovely bride, her mother and I toured the home. Not surprisingly, they loved it, so we moved to discuss the contents of our offer.
This was a sensitive situation. Our first time together. Their first purchase. The husband was not able to see it. And I knew there would be other offers. Still, the worse thing we can do as agents is strong arm a client, particularly when time and experience have not allowed for trust and comfort to be established. We presented a compelling offer they were comfortable with making at $11,000 over the asking price. Often times, a seller will put forth a best-and-final request to all bidders. However, in this case, they decided to forego that path, selecting another buyer’s offer. We lost the property by $5,000.
My clients felt dejected, and I, too, was disappointed. Over the next few months, we periodically toured other condos and townhomes that piqued their interest, but all fell short to that first townhome we saw on Burling. I stayed connected with the agent who sold the townhome as she had lived in the community and knew the development well.
A few months later, she relayed her plan to sell an updated, preferred corner unit. Ironically, my clients were leaving on a two-week trip overseas one day after we were able to access the home. However, this was our time. A trusting, collaborative spirit had formed between us, we negotiated an offer, and they navigated the inspection and attorney review with my help from afar.
This Friday is closing day. I am not sure who is more delighted. I am grateful for my clients, the listing agent and all the behind-the-scenes actors who helped guide this to the end.
