I should have started this series years ago… to differentiate myself from the multitudes of other agents. This winter has allowed me a little free time to ponder and blog a little bit about my past experiences… hope you enjoy!
Would Other Listing Agents help out a Seller having Financial Difficulties?
I have many examples, but the first I’d like to share is a recent situation where I was referred to a seller who had an out-of-state brother; no other siblings, and both parents had passed away. The local brother (my client) had moved in with his mother several years ago after the father passed, providing assistance to her and taking care of the home and property, etc. until her passing just last year. My client had also recently lost his job, paid for several expenses around the house and was being “forced” to sell by the out-of-state brother, since both had been deeded the property by the mother before her passing… and the out-of-state brother wished to exercise his right to either have the local brother buy him out, or sell.
The local brother (my client) had no choice but to sell… but after several prior expenses had no money to work with, as far as providing a buyer with the mandatory county health department certification to make sure the well and septic systems were in proper compliance. I informed both brothers that I would assist with said health department requirements and they could simply reimburse me from the sale proceeds when we closed the deal. We landed a buyer, and proceeded through the process of well and septic inspections… and of course both inspections initially failed due to bacterial contamination of the well and an unseasonably high water table, which prompted the sanitarian to “fail” the septic field as well… requiring the buyer to install a new field after closing.
The short story is, after I had personally contributed close to $2000 over the course of several weeks to bring the well in compliance and other aspects of the septic system… with no guarantee that we could get the deal to close, we were able to have the seller escrow another several thousand dollars out of their proceeds to take care of the new septic field, and the buyer agreed to close the deal. The sellers were then able to reimburse me out of their closing proceeds as well, and everyone went happily along their way.
Bottom Line: How many other agents would have taken that gamble? Are they really looking out for their clients best interest if they can’t have some of their own “skin in the game” in an effort to get the deal closed?