You probably don’t believe how funny Real Estate really is, unless you were a buyer or seller and your sale turned out entirely different from what you imagined or needed it to.
But the people I met on the rocky road of Real Estate in the 70s and 80s were fun to observe as they attempted to succeed in a job with more failures than successes than most other professions. Anyone who became a Rock Star was incredibly LUCKY!
This is the truth of how the “Profession” really worked! And it hasn’t changed much since.
The Broker didn’t give a damn if you made a dime! His only interest was that you bring as many relatives and friends as you could in the few months you lasted before you burned out at the immense physical and mental labor.
Your basic training was to do what everyone else did. To fill out one of the single legal page contracts with several carbons, like ones in the drawer in the files, similar to your sale.
Truth: almost no two sales are alike! If you were smart, you got most of your training from the Title Companies or Mortgage Representatives. That is how I learned just about everything about real estate.
Got a listing! Now price it right! Easy right? Most Sellers think they are selling a mansion, while most buyers are paying for a shed! My favorite saying was: “Buyers are liars, Sellers are yellers!”
To find comps (comparison sales), you trekked to the County Courthouse and spent the day pulling dusty volumes of books containing the addresses and sale prices of homes within a mile of your little jewel!
Let me tell you about my fun client Tip-over Tom! A truck driver for a pulp Company. He earned the nickname by tipping his truck at least once. I listed his house, about an acre in town, with a stand of Timber on it! To say he was proud of that timber would be an understatement! Tom found a house in the country and was so in love with it that I could not talk him out of it, and I tried! The land was more swampy, and the house had so many things wrong with it that I was afraid the appraisal would be half the sale price.
The master bedroom was built higher than the rest of the house and had an impressive picture window overlooking his land. When we viewed it the first time, the seller’s agent accompanied us, not with my permission or approval. It had rained that morning, and there was a lot of moisture on the ceiling, and actually, dripping water. That hotshot seller said, “That’s just moisture because the house is built so tight!” I didn’t argue with him. Looking around, I pointed out that the faucets were not hooked up to water, and he said it would all be ‘taken care of,’ probably by closing, but not to worry because his contractor was a professional!’
He may have fooled Tom, but he didn’t fool me. I always met the Home Inspectors on my listings and my sales. The roof did not pass inspection, and there was a long list of repairs and a new roof before closing.
Before closing, we got a sale on Tom’s house, and he hollered at me several times that he would not sell unless he was paid handsomely for the Timber. He knew it was valuable, after all, he drove a truck for a pulp company. I explained to him several times that if he wanted the proceeds from the sale, he needed to take care of it BEFORE an offer was made. I explained more than once that if he accepted the offer minus the timber, his company doing the clearing would be responsible for ANY DAMAGE to the property. To say he was pissed would be another understatement.
I set an appointment to show him the contract on his house and asked my hubby to come with me. His wife was afraid he might hit me or something. I was not worried. I told Shirl, “Now, when I show Tom the contract, he is going to scream and holler for about an hour! We will sit still and just let him rant. He will not hit me! Do not say a word to him, no matter how loud he gets!” Shirl promised, so off we went.
Tom did exactly what I said he would. After an hour, he calmed down and said, “I suppose I will have to sign this if I want the other house where I can go fishing and hunting on my own land, don’t I?”
I said, “Yes, you will if you want the house in the country.” I put the ballpoint pen on the contract and kept quiet. We finally agreed that the Timber was valuable, but the cost and the risk to his existing house were concerns. He signed, and on the way home, Shirl said, “Were you really sure he wouldn’t hit you?”
“Yes, he wanted that swamp land and that house, and he finally realized that in order to get what he wanted, he had to sell that house.
This is the only proof that “Buyers are liars and Sellers are Yellers!”
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Hope your day is filled with fun and love. See you next time…