If you’re lucky as a real estate agent, you work in the business for a few years and have clients that work with you again and again. Such was the case with the client success story I want to share with you today.
I sold a property for this client in her small co-op building, and she knew about me and conducted interviews with the other agents who had done business in the building. The first time I met this client, I came to her house on a Saturday morning wearing a suit and tie—which I felt pretty silly about—and she had me up against other agents she had dealt with before.
She had a 1-bedroom, first-floor apartment. It’s always a challenge to sell first-floor apartments, and she had huge furniture too. Even though I was stressed and really wanted her business, I had to be honest with her, tell her a price that was lower than what she wanted, and tell her she had to do something about her furniture.
I recommended a stager who staged the home, and we sold it for $745,000, which was $5,000 less than the asking price. We then located a 2-bedroom apartment—which was what she wanted to move into—that was close by. The asking price for this next apartment was $1.2 million, and we offered $1,210,000.
Am I crazy? No, I’m not crazy! It was Thanksgiving and the market was slow. Anyway, she put a little bit of work into this apartment and called me again four months later. She wanted to sell again and move back into the area she originally moved from in the West Village. She was only five blocks away, but she didn’t care.
"You can’t be perfect for every person, but I go to war with and for the people I work with."
Real estate agents don’t mind getting those calls, but now we had a real challenge on our hands. She improved the property quite a bit, and I had to get her every dollar she spent on it and more. The way to do that was to sell it for $1.5 million, but she wanted to sell it for $1.7 million. There were no comparable properties for $1.7 million, but I didn’t argue with her. We listed the apartment at $1.7 million, then dropped it down to $1.6 million. By the time we dropped it again to $1.5 million, she was a bit stressed, but I never wavered. While we were priced at $1.6 million, we got an offer for $1.4 million. Once we lowered it to $1.5 million, we generated more interest but no real action.
The people who offered $1.4 million were pretty standoffish, but long story short, we got another offer and those people raised their offer to $1.45 million because they were scared they were going to lose out on the property. We made a counteroffer of $1.475, and they agreed to it. But in New York, as you know, it takes another seven to 14 days to sign a contract. During this time, nothing happened, but then my client made up her mind that she wasn’t selling for less than $1.5 million.
I waited until the buyers signed the contract and put up their money to tell them that they had to meet the $1.5 million mark. The agent representing them was world famous—the kind who walked on air (or water, depending on her mood) and breathed fire. Needless to say, she wasn’t happy. But you know what? They agreed to $1.5 million. They also agreed to close according to our schedule. They yelled at me and complained to my manager, but I absorbed all that pressure they would’ve put on my seller had I not been there.
Now that this client had moved into another great home and is looking to buy again, we have a great relationship that’s built on trust and being in the trenches together. You can’t be perfect for every person, but I go to war with and for the people I work with.
If you need a real estate agent you can trust and depend on, I want to talk to you. If you have any questions or are thinking of buying a home, don’t hesitate to reach out to me. I look forward to hearing from you.