I want to tell you a story about a friend of mine named Rigo. I meet him at a seminar I hold in my office on how to buy REO properties. He had worked with other Real Estate Agents, had written offers and was not happy that he didn’t hear back on why his offers weren’t selected.
I educated him on the process, answered his questions and he made the decision to choose me to be his buyer’s agent. I was honored he picked me, but I was honest with him and explained that we would have to work hard to get him a property he would like. You see, Rigo is not a rich man. He works hard for a living and is like most first time home buyers. We were looking for a really good deal, but our competition was using stronger financing than us.
Because of that, we wrote many offers that were not accepted. The inventory started shrinking and even more buyers joined the hunt. Rigo was getting discouraged, but I continued to promise him that if he’d trust in me, I would find him the right place at the right time.
Well, that time just arrived. I got a tip on a new REO that had been on the market for a long time as a short sale. Agents sort of forgot about it and I told him we had a chance if he wanted it. We wrote the offer and negotiated the acceptance.
Rigo is ecstatic. He will tell you it was harder than he thought it would be. He’ll tell you he had started to give up hope. He’ll tell you he’s still nervous because it’s going through escrow. The main thing he’ll tell you is to persevere. He had faith in me and I’m so happy he did.
I keep hearing from the media that it’s a “buyer’s” market right now. Really? The numbers I look at don’t seem to imply that. If anything, it’s a strong seller’s market Consider this, as of today (6-22-09):
Seaside has 38 active listings available for sale. They also have 70 properties in escrow.
Marina has 24 active listings for sale. They currendly have 40 properties in escrow.
Greenfield has 33 active listings and 92 properties in escrow.
Affordable housing in Monterey County is red hot, and unless we see more inventory soon, it’ll continue like this until interest rates go up. It’s not uncommon for good properties to get double digit offers in a week. There’s no shortage of buyers.
I met a new friend today. Her name is Myra. She called me to ask some questions she had involving real estate. I was happy to assist her, but I was even happier when she offered to assist me.
She had found my number because she had visited a popular real estate website and I had answered a question. She told me she was intrigued enough to research my other online answers and blogs. What she found made her feel comfortable enough to call me and ask questions and share personal information. I was humbled by the fact she searched for me and shared so freely. What blew me away was her request for me to mail her several business cards so she could recommend me to her sphere of influence.
From reading some postings I had made and one single telephone conversation with me, she was willing to put my name next to hers with her friends and co-workers.
Boy, do I consider that to be an honor! This is not the first time this has happened, nor do I expect it to be the last, but I’m always in awe of the impact I can have by being willing to share my education and expertise with people. I live by the adage, “you’re only a stranger because I haven’t met you yet”.
I hope what I shared was helpful to Myra, because what she shared was very helpful to me. It’s my desire to educate and enlighten all who read what I write. If I can ever be of service to you, or people you care about, don’t hesitate to contact me and give me the opportunity to serve you. I would be honored.
