MILESTONE MONDAY

Two days ago, I had the pleasure of helping buyers purchase a home. 

Big news, right?

Not so much I’ve helped hundreds and hundreds of buyers purchase a home over the years and they are all unique.  Some transactions are tough.  Some are easy.  Some require A LOT of hand holding.  Some require little hand holding.  This particular buyer and transaction was ‘easy’ for me.

But to the buyer, to my clients I was a Miracle Worker!

This Story starts about a year ago.  John and Sarah (not their real names) moved to Frederick and had considered purchasing a home but ultimately, they decided to rent for a while to figure out area, schools, etc before purchasing.

John and Sarah, they found a house in a nice neighborhood that was for sale, but also for rent.  The owner had tried to sell, but 2 contracts had fallen through (remember this for later) and he was ready to rent so he gave John and Sarah an opportunity to rent his house.

John and Sarah got their roots, lived there for a 7-8 months and this past spring decided that they wanted to move forward with purchasing home.

They had become settled in the neighborhood, with the schools and wanted to buy this home.

The agent had a clause in the rental agreement that if they were to ever buy the house that she would still get the commission.  (That’s not an unusual clause to have.)

Little did the agent know that John and Sarah had become friendly with the owner over the past 7-8 months and they talked quite frequently. 

What happened next is where the fun begins.

The buyers and sellers had reached terms on a contract themselves.  John and Sarah reached out to the agent to tell her that they wanted to buy the house and to write the contract.  Well a few days goes by and the agent comes back to them and tells them the seller wants more money, different terms.  At this point, John and Sarah feel duped and are frustrated. 

This went back and forth a couple of times and finally John send the seller a message that they are leaving at the end of the lease and no hard feelings.

Well the seller was SHOCKED.  Why weren’t they buying the house?  What happened?

So, the 2 of them talked directly and come to find out that the seller never told the agent to change the price.  He was more than happy to sell to John and Sarah.

The agent never consulted the seller! 

Just did negotiating behind her clients back. (according to the clients)

At soccer practice late last season, John is telling me this story, he is cussing real estate agents up one side and down another.  He is frustrated.  He is hurt.  But mostly he is livid.  At this point we had coached together on the same team for 2 months.  John was the head coach and I assisted him and during this time we became friends.  We never talked ‘business’ so for him to open up was cool.

Then I started asking questions about a ‘buyer agency agreement’, ‘pre-approval from a lender’, did he ever have a signed contract, etc.

He gave me this quizzical look…

I told him that I was in real estate.  He had no idea.  See, I don’t go around telling people that’s what I do.  I’ve said many times that I’m not pushy, not a salesperson… I find that when people find you are a real estate agent they recoil because they think some sales pitch is next.

But John after a few months knew me.  Knew my character.  Knew who I was at the core.

I told John that I would help him if he wanted.  He jumped at the opportunity.  He told me ‘the story’ and that he and the seller had agreed to the terms and what transpired, etc.

So, I got involved.  I called the agent.  I laid out the terms and I told her in a not so indirect way that I knew the buyer and seller were friends and had agreed to everything.  You should have heard her on the other end of the phone, it was hilarious.  Back pedaling, stammering.

She knew she was caught.  She knew the ramifications if the seller filed a complaint at the Real Estate Commission for unscrupulous acts of negotiating without her clients consent.

So, I was ‘allowed’ to represent the buyers and get ‘em to settlement.

I had to write the contract under the terms that they buyer and seller agreed and navigate inspections, contingencies, financing and get to settlement.

John and Sarah, at settlement could have not been more grateful for my help in getting them to buy the home and although this was a smooth transaction for me it was a roller coaster for them.

And, oh yeah, remember those 2 contracts that had fallen through with the seller before?  The seller (according to John) had no idea why they fell through… Makes you wonder, huh?