Austin TX Real Estate - Hill Country Austin Lakeway Homes for Sale: Meeting New Clients in the Strangest Ways

Meeting New Clients in the Strangest Ways

home valuesBack around September, I got word of some potential "deals" in a particular area of Dallas.  When I heard what was going on, I immediately knew of some investors that would be interested.  After getting more and more information, my initial investors were like, NO WAY!

There's a builder in a community that has apparently put 13 people into foreclosure situations, in which I won't go into details, as they confuse me as it is.  The lender liked talking with me and working with me so she said that if I got the home owners' permission to talk with her in detail, we could do some business together.  I have the contact information for 5 of the owners. 

Because these homes are being built and money has disappeared, there are thousands of dollars of liens on these properties.  One of the owners was VERY serious of getting out from under the home and said he would do whatever it took to get the house sold...

Fast forward to November when I blogged about meeting a builder who needed a new Realtor.  I took this builder out to the houses and he immediately wanted all of them except one.  We immediately put an offer in on one of the properties.  Of course, the offer was contingent upon all liens being removed as the lender wouldn't approve a short sale with those liens.  The owner had to jump through many hoops to get the lien releases signed, but he didn't mind.  We were set to close the Friday before the New Year when one of the lien holders took off to Mexico and didn't return until yesterday, but alas, it closed.

Within this ordeal, one of the lien holders didn't want to release his lien.  He kept upping the amount of money he wanted to release it.  Finally, the owner tells him that this is ridiculous and why does he keep changing his number.  It turned out that the person with the lien likes to buy foreclosures, fix them, and flip them, and he's sore that the owner didn't allow him the opportunity to buy the house.  The owner so graciously gave him my name and number and told him that I was working with the lender on several of the homes and that I could get him into one of the homes...

Remember the builder above who liked all but one of the houses?  This new guy is going to buy that house, cash!! I now have a buyer for the remaining 4 houses!!  Short sales are never fun to go through, but if I had walked away from this situation at the beginning just because the first investors wanted nothing to do with this mess, I never would have found another investor!!  Granted, this lien holder guy does have his real estate license, and we'll be working out referral fees, but it's still business I wouldn't have had if I didn't decide it was worth going the extra mile with the work.  Lately, I've been finding lots of new clients in the most unsuspecting ways.

Also, a big THANK YOU to the title company as they did a fabulous job running around town with their notary stamp for the lien releases!!

Comment balloon 25 commentsDonna Harris • January 04 2007 06:40PM

Comments

Wow Donna, that sounds like it was a grueling set of transactions. Kudos on your determination. It sounds like you worked hard and it was recognized.
Posted by Mark Flanders (Consulting) over 11 years ago

Great job Donna.  You got the perserverence to get the job done.  I'm sure that's recognized by your client.

Ken

Posted by Ken Spencer, for Verrado, Buckeye, Sundance (Serendra Realty Group ) over 11 years ago

Mark and Ken, thanks!  Yes, they are very grueling, but the price range is nice so the compensation is too.  The ones that the builder is buying, I'll get to list those ones when he's done, so there's more to come!

Sometimes I wonder if my clients appreciate me because some of them are just down right nasty... others are full of Thank You's.

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 11 years ago

Congratulations on a job well done, I know perseverance can really pay off in the real estate industry.

 

 

Posted by Darren Stewart (Mortgage Investment Services Corporation) over 11 years ago
Donna, nothing wrong with finding new ways to get clients, even if it does take a little more work.  Good job.
Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 11 years ago
Good job and congratulations on your success. And what terrific experience, despite the aggravation.
Posted by Jeff Dowler, CRS, The Southern California Relocation Dude - Carlsbad (Solutions Real Estate ) over 11 years ago
Congratulation! persistence does pay off.  With this attitude I am sure you will be making use of many other unusual opportunities.
Posted by Jennifer Fivelsdal, Mid Hudson Valley real estate connection ( JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571) over 11 years ago

You are to be congratulated for your patience and persistence.  Go girl!

Posted by Carol Williams, "Customized Mentoring & Marketing Services" (U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business.) over 11 years ago
charmed life! no coincidences.
Posted by Harper Team (J Rockcliff Realtors) over 11 years ago
Great job of seeing it through, most agents would never have put that together.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 11 years ago

Knowing how to do short sales is an essential part of the Realtor tool kit. Thanks for your great post!

Posted by Kathy Vaughan (Ryan Taylor Homes) over 11 years ago
Sure sounds like you earned your money the hard way.  I bet you had a great feeling of satisfaction when you completed the transactions.  Good for you! 
Posted by Diane Bell, Hilton Head Real Estate, Bluffton (Charter 1 Real Estate, Hilton Head, Bluffton, SC) over 11 years ago

Some go easy some go hard. You gotta have a few difficult ones to know how sweet a good sale is.

Congrats on you perserverence.

Me

Posted by Craig Schiller over 11 years ago

This is weird... I read all the comments through my email this morning and found some of those comments aren't on the blog any longer... why did people delete their comments?

Someone asked about the commissions though it's been deleted.  Only the one has closed thus far as we're still getting the liens released on the others, but the commissions are all over the place. I'm not greedy, so when I know the bottom line from the lender and I know the bottom line of the buyer, I work my number in there.

Craig, "a few difficult ones"?  I'm extatic when I get a good, easy one, which is very rare!

Harper team, if the charmed life is attracting the bottom of the barrel stuff most of the time, boy am I ever charmed!!

Everyone else, thank you very much for your kind words. I'm sure these other 4 deals will have stories of their own that I'll be blogging about...

 

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 11 years ago

Donna,

Thanks for the post. It pays to be persistent and go where most won't!

Posted by William Collins, Director of Property and Asset Management (ERA Queen City Realty) over 11 years ago
Just spoke with Sellers who want to sell - but don't have to sell.  They would have to bring 110K to the table to close if they sold at market value.  They will wait for a while!
Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 11 years ago
THat is alot of hoops to go through but its worth it. Possibly some other agent who knows short sales would have taken your business if you were not so patient. Great job.
Posted by LLoyd Nichols, SW Florida Homes (Premier Florida Realty of SWFL) over 11 years ago
A great way to learn more about short sales. We have only had to handle one so far due to the market rising over the past few years - but as Tony pointed out - we expect more this year.
Posted by Suzanne Marriott, Associate Broker, CLHMS, e-PRO (Keller Williams Arizona Realty) over 11 years ago

Nice job....congrats....

HEY! Your blog is on the DASHBOARD!!!! WOOT!

Ken Stampe

http://blog.homeloandfw.com

what does a Lychee taste like anyhow?

Posted by Ken Stampe, iBrandPlan (iBrandPlan.com - Grow your e-Profile & Brand) over 11 years ago
I'm glad that all your efforts are not wasted.  I bet you have such a sense of accomplishment!  Way to start off 2007.  Congrats. 
Posted by Debi Braulik, Selling Maple Valley to Fife WA Homes For Sale (www.roundrealestate.com) over 11 years ago
Donna, all I can say is well done. Going the extra mile is a pain, but in most cases it's worth it. I love reading stories like this. It is why I believe the bloggers on AR are some of the best and brightest in the industry. You're willing to do what it takes. Love it. Makes me smile very wide.
Posted by Jeff Turner (RealSatisfied) over 11 years ago

Hi Donna,  Thanks for the blog 

Its never crowded in extra mile!  This profession offers runaway success to those who can zoom, think out of box.

Thanks & good luck

Yasir 

Posted by Barb & Jennifer White (Re/Max Xecutex) over 11 years ago
Persistence pays off every time.  Congratulations to you on your determination and hard work.  It's a good thing you did not get discourage by what others had to say.  Naturally, you saw this opportunity and went after it.
Posted by Netta Blackwood, REO/BPO Expert (La Rosa Realty) over 11 years ago

Ken, Thanks!!  I'm still waiting for your blog that I need to comment on!!

Netta, Yes, I almost passed all this up because the initial investors were scared to get their feet this dirty.  It turns out, that once things get cleared up, the mud washes right off, and things are clean again!

Bar and Jennifer, I try to always be in the extra mile, but you know how people will try to cut you off for no reason.  That's how I feel sometimes!  Slower people stay to the right!

Jeff, I'm glad I could put a smile on your face... or is it just that it's Friday?!

Debi, Yes, it's a great 2007 so far!! Biggest January I've ever had!

Suzanne, Each short sale is different so it's really hard to learn from even 10 or 20 short sales if they're all going to be with different lenders.  However, some of the questions are the same, so it does help to know the basic process.

Lloyd, Thanks!  And actually, these homes were set for foreclosure, not short sales, so that would have been a completely different, complicated process.

Tony, I had a closing 3 months ago where the sellers had to take out a loan to close on their house.  They had to bring $12k to closing.  I can't imagine $110k!!

William, thank you, and you are very right!

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 11 years ago
Donna, great blog.  You did a wonderful job when other might have backed away.  Congratulations!!
Posted by Kay Van Kampen, Realtor®, Springfield Mo Real Estate (RE/MAX Broker, RE/MAX Solutions) over 11 years ago

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