Below is a post I made in Spring 2010. You don’t have to read the whole thing, but check out the sentence in block quote at least since that is what this is really all about.
I fought hard to get my people the best price on this house back then. When people buy a house they like, they often don’t care about a few thousand dollars, especially now that the market is better and people aren’t as afraid of their house losing value. I care because one day, all of my buyers will be sellers and that is the day they will appreciate my efforts the most.
That time is now for these clients. I just listed their house. They will be netting $3000 more from the sale of their property had the events on the post below not happened.
“Man, I’ve had a fantastic week. I had a great family come into town to pick out a house. It was another one of those marathon weekends, but I always have fun. I really saved these folks some money too. See, they were willing to pay more for the house than they got it for. They wouldn’t have been smiling as big, but they would have done it.
The other agent is somebody that I have a lot of respect for as a listing agent. This person knows how to get things done, which is probably why they are so successful. (Thought I’d better lay that out since I don’t want to come across otherwise.)
While I like this agent, the bottom line is that I’m not working for her, I’m in this for my folks. They’re the ones trusting me to do my best for them. We made an offer a little lower than what the comps showed the house to be worth. Then the agent and I talked about a range of where we’d both like to land. The other agent came back with a number and said that was the sellers bottom number. Like written in stone bottom number. Knowing the personality of this agent, I knew she would want to wrap up the deal ASAP. I had a theory that if I just moved slow and drug this out, that I might get a little more out of this for my folks if I was the one in control of the gas pedal. I told her that I didn’t know if my folks would go for that. Since it was getting late, I said I’d call them in the morning and let her know. The agent reminded me that we were only a few thousand bucks apart. I said that I thought the gap was enough to send my folks back to the thinking chair, and at which point they maaaaay just have to go with an identical model house around the corner that was $5k cheaper. I also told her that the listing agent for that house had e-mailed me saying that the seller would buy new carpet for my folks and let them pick the color. The agent was on the computer looking at that house before I got done…….which was pretty smart. The agent was like, “John, that house has white cabinets and I have those nice cherry ones”. I was like, “Well, a few thousand bucks covers a lot of negatives. Plus white goes with anything.” Then the agent started in about how little the gap would make in my peep’s mortgage. It was about $18 a month. I told the agent to convince the seller that if they would only add $18 to their next mortgage, they can sell their house tonight. That worked, because about 20 minutes later I got a call that they would meet our price.
So, I am feeling pretty good about going the extra mile for my folks. They are only going to be here short-term.
If they had gone with the $18 a month logic, they still would have felt the price gap when it was time for them to sell.
I always say that now is not the time to overpay for a house!
I also had a great time working with this agent. This person is high energy. I totally respect that this agent was trying their hardest for her peeps. I also always learn a lot when I am working with great agents, I just wish there were more of them out there.”