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A Realtor's story
Realtor Case Histories
A "for sale by owner" and my first transaction.
by a Realtor in Texas
Story November 2001
To: Arrows Real Estate
From: name withheld.
Subject: you asked for a story and here is mine.
I had been in real estate for two days. I had quit my job as a land man in a small oil and gas company, which was drilling a series of wells in Louisiana. The president of the company was a rude man from the Texas panhandle who would come to town only on occasion. On his last visit during my employment there, he behaved so inappropriately toward me that I resigned the next day. I had no plan particularly and since I did have my real estate license, I just thought, in a rather matter of fact accounting of the situation, that I would "go into real estate". Whatever that meant. I was not quite sure, but it beat the alternative of working in an office where I was not safe.
So, here I was, with my desk which was a card table with a suede table cloth covering it, my chair, and my telephone, which items were presented to me by my broker, who officed in the next room of her 2 room office on the top floor of a neighborhood 2 story commercial office building near our city’s most desirable neighborhood. My broker was very successful working on her own, and probably was not quite sure what it meant to have agreed to sponsoring an agent. But then, I did not know anything about real estate so it worked just fine.
I realized, as I sat at my desk the next day in real estate, in that room by myself and with no prospects whatsoever, that to make any money, I would have to have a "listing". So, let me see, it was 7:00 am on a Saturday morning, I am at my desk, with my new manila files, which I had purchased along with a spiral notebook, and blank paper. I stared at the phone, and tried to think of anyone I might know who could sell a property where I would be the agent. Who could that be? Well, yes, there was that single man I knew who lived in a condo and who was very bright and respected at Merrill Lynch. He had called me once recently to go on a blind date with an associate of his who was coming to town from the New York office. I went on the date and had a wonderful time. That is another story. Why not call that single man, I said to myself. So, I looked up his number in the telephone book, and dialed. "Hi Bob, this is Susan. Guess what? I am in real estate now. Did I wake you? Oh, dear. Well, I had an idea which is why I am calling you. Would you want to sell your condo? I would like your business. You would? Great."
I was a happy girl! My first listing! But wait, no no. All did not go well. He called me back shortly thereafter and told me that he told another friend (also in real estate) that he wanted me to be his agent. She cursed him so badly that it scared him and he told me he could not sell after all because he had known her so long and that she was furious with him. Well, I sadly realized then and there that I could not rely on "people you know" to get ahead in real estate. So, what was I to do?
How about the "for sale by owner"? Good enough idea. I went out and bought a newspaper and a cup of coffee, returned to my desk, and turned to the real estate ads. I circled all the "for sale by owner" ads, then I criss-crossed the telephone numbers until I found one where I recognized the name of the street. Ah, there was a good one, in an old neighborhood where the houses were not too big. That did not sound too hard or too nerve-wracking. Here I had the name and the address and the telephone number. All right. I dialed the number and the man answered the phone. ‘Hello, this is Susan and I see your ad in the paper for selling your home. I am in real estate and would like to help you. Selling without help is hard, isn’t it? I would like to set an appointment to come by and visit with you about my services. Would 2 o’clock be better or 3 o’clock? 3" All right. I will see you then. Goodbye". Oh my gawd! An appointment! Well I had 5 hours to get ready, since it was now only 9:00 am.
I put together a presentation book. I went to the computer (which was not really a computer but merely a machine to access the listings of the local associations of Realtors. I studied the neighborhood area closely and soon realized that this man and wife were asking too little for their property by about $10,000.00. So, I prepared a list of the sold properties and the for sale properties near their house, cut out pictures and pasted them up, and did everything I could to look like a real estate agent. But I was very nervous, to say the least. Finally the time came for the appointment.
I drove over there, with a "for sale" sign in the trunk of my car. I made my way up the little walk to their house and I am getting sick by this time with fear. I introduce myself, make polite conversation, let them show me around their house, and finally we settle down in their living room. Luckily I tell them that I am fairly new in real estate. Why was that lucky? I started with my file presentation and after about 15 minutes of talking, my voice trembled, and I broke into tears (which I forcibly controlled with every nerve I had). What happened next? In a few seconds I contained myself and said, "I am sorry, but I am a little nervous today." The man was simply wonderful. He said, "Go on and do the close". I had no idea what he meant. The close…Believe me, I do know now, but then I did not. The close is when you close a sale. It is an art to know how to close a sale. Well, all right. I finished my little pathetic presentation. The husband and wife looked at each other. Then he said, "Will you please go outside. My wife and I want to talk for a minute". I was glad to go. If I never saw them again that would be fine because I was so nervous. So, out I went. I walked down their front walk and walked along the sidewalk toward the next house and back. But, amazingly, the husband came out on his front porch in about 2 minutes and asked me back in. In I went.
And, oh my gawd! They decided to have me be their agent. I guess I had them sign the listing agreement and I do know it was for $15,000.00 more than they were asking in their newspaper ad. Then, we parted and I went to my car trunk, got out that sign and put it in their front yard. I bid them goodbye and drove away. I was a happy girl. I was ecstatic with happiness. I knew I could make it in real estate.
Then, I put that property on the MLS and believe it or not, I sold that house in 2 weeks! It was co-brokered and I made the sellers very happy, as well as myself. I was on my way. I made $1,100.00 in 2 weeks.
So, There you have it. At least you have the first part of that story.
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