"Talk Story" on Past Property Sales & Purchases
Negotiating is a Talent | What Does that Mean?
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Meeting in the middle during negotiations is one the ways you really benefit by using a Realtor®. We all have a difficult time being objective & accurately observing the other party when negotiating to save our client the most money, get the best price, limit a key concession or share most advantageously in the expense of a mandatory item in the transaction.
One of my sellers knew me from working in local governments & setting up the Action Committees on the west side of Hawai’i Island. These were allowed by the long-fought-for HI County Council ordinance that set up citizen boards that were advisory to the planning commission. These groups were instrumental in communicating the concerns of we, the residents in these areas, regarding development, l& use, utility services, conservation management of public resources.
When it came time to sell, Sara, who was the extension service’s liaison to set up the focus groups & get the whole process started on the west side, naturally hired me to sell her. She noted my dependability & how hard I'd worked on the door-to-door campaigning to tell everyone to come & have their voices heard & get involved. So, she to sell her home.
Her home was in Holualoa, Kona. I wanted a harmonious working relationship with the selling agents there, so I co-listed with a Kona office. When the first offer came in, that co-broke agent didn't have much to say. I had talked to the selling agent & found out that the buyer had 3 properties that they were interested in. They were CA folks here on a 3-day buying trip. I couldn’t get too much feedback about our property, but they were making the offer on ours first.
I told Sara I really wouldn't go down too low for these folks because they didn't want difficulties, as they felt they had so many other options. Since we had to disclose some issues on our seller’s disclosure which weren't favorable to the house. These might kill the transaction with a non-motivated buyer. The buyers did not accept our ‘counter-offer’. About 2 weeks later, we had our second offer. It was about $20,000 lower than the first offer, which of course, wasn’t acceptable. The other co-broke agent encouraged the seller to only come down about $10,000 so the buyers wouldn't go away. (This would have been lower than we had countered on the 1st offer.)
I had to use my training I got getting my psychology degree to again, get the selling agent to open up about who the buyers were & what their motivations & needs were. These buyers were different. They didn't have any other properties they had in mind if they didn't get Sara's property. I consulted with Sara as the other agent listened & then disagreed. I said I would go back with a Rather high counter-offer of $23,000 more. Sara was very happy with this & I suggested being confident & giving them the long 3-day weekend to decide. On the evening of the second day the buyers accepted & my client was super happy. A couple of times she got real nervous about things she had to disclose. I told her once we should give them something to soften the blow & we chose to give them an extra refrigerator in the rec room & a piece of art that have been chosen just specifically for the certain spot in the house. This helped ease the receipt of the not so palatable items.
One of my sellers knew me from working in local governments & setting up the Action Committees on the west side of Hawai’i Island. These were allowed by the long-fought-for HI County Council ordinance that set up citizen boards that were advisory to the planning commission. These groups were instrumental in communicating the concerns of we, the residents in these areas, regarding development, l& use, utility services, conservation management of public resources.
When it came time to sell, Sara, who was the extension service’s liaison to set up the focus groups & get the whole process started on the west side, naturally hired me to sell her. She noted my dependability & how hard I'd worked on the door-to-door campaigning to tell everyone to come & have their voices heard & get involved. So, she to sell her home.
Her home was in Holualoa, Kona. I wanted a harmonious working relationship with the selling agents there, so I co-listed with a Kona office. When the first offer came in, that co-broke agent didn't have much to say. I had talked to the selling agent & found out that the buyer had 3 properties that they were interested in. They were CA folks here on a 3-day buying trip. I couldn’t get too much feedback about our property, but they were making the offer on ours first.
I told Sara I really wouldn't go down too low for these folks because they didn't want difficulties, as they felt they had so many other options. Since we had to disclose some issues on our seller’s disclosure which weren't favorable to the house. These might kill the transaction with a non-motivated buyer. The buyers did not accept our ‘counter-offer’. About 2 weeks later, we had our second offer. It was about $20,000 lower than the first offer, which of course, wasn’t acceptable. The other co-broke agent encouraged the seller to only come down about $10,000 so the buyers wouldn't go away. (This would have been lower than we had countered on the 1st offer.)
I had to use my training I got getting my psychology degree to again, get the selling agent to open up about who the buyers were & what their motivations & needs were. These buyers were different. They didn't have any other properties they had in mind if they didn't get Sara's property. I consulted with Sara as the other agent listened & then disagreed. I said I would go back with a Rather high counter-offer of $23,000 more. Sara was very happy with this & I suggested being confident & giving them the long 3-day weekend to decide. On the evening of the second day the buyers accepted & my client was super happy. A couple of times she got real nervous about things she had to disclose. I told her once we should give them something to soften the blow & we chose to give them an extra refrigerator in the rec room & a piece of art that have been chosen just specifically for the certain spot in the house. This helped ease the receipt of the not so palatable items.
The sexy 90-year-old (who got a 3-carat diamond)
Once I had a duplex in a desirable downtown location listed for sale. It’s 90-year-old seller, who remembered the good all days & when the market was about $20,00 higher. At an ACREE exchange club meeting (where I was the treasurer), I pitched the property. One of the agents said he had a doc that really liked downtown investment property. He said he had sold the doctor a Big Lake cabin years ago & the doctor had been wanting to get rid of it for the last few years. Another regular attendee at the exchange club meetings was an astute broker-investor, who had acquired quite an impressive collection of investment quality gems & stones. He was always looking to exchange those into real estate. We did a three-way exchange. My client chose investment gems he wanted to give to his 3 grandchildren in Greece, where he was moving right after the 3-way exchange. We made a tentative agreement; gems for the cabin on the lake, so the doc would buy the duplex at a price Constantine would accept. However, in my research in the next couple of days, I discovered that the Greek government customs office would take 30% of those investment gems, as a tax to my client, when he landed at the airport in Greece. Constantine was OK to select one item for the full amount & wear it under his clothing…no duty on personal jewelry! He selected a stunning pendant & a very thick white gold chain.
Why does the title list his as ‘a sexy 90-year-old’? That’s because he was making love to the neighbor & had a heart attack, but survived! What an amazing guy! Real Estate has been such an enjoyable field for me. I am fortunate to work with people like Constantine, I have been able to solve their real estate problems.
When the Market tanks, we learn how to swim!
I won't go into all the details, but I also SOLD 11 town home condominiums that had been marketed for a couple of years w/no success. I also sold a retail strip center, several commercial lots & houses & individual condos.
Ask me some of the other creative things I've done to help a real estate transaction? It's been some of the most enjoyable parts of my career; to figure out a way to make something work that takes thinking outside the box.
Once I had a duplex in a desirable downtown location listed for sale. It’s 90-year-old seller, who remembered the good all days & when the market was about $20,00 higher. At an ACREE exchange club meeting (where I was the treasurer), I pitched the property. One of the agents said he had a doc that really liked downtown investment property. He said he had sold the doctor a Big Lake cabin years ago & the doctor had been wanting to get rid of it for the last few years. Another regular attendee at the exchange club meetings was an astute broker-investor, who had acquired quite an impressive collection of investment quality gems & stones. He was always looking to exchange those into real estate. We did a three-way exchange. My client chose investment gems he wanted to give to his 3 grandchildren in Greece, where he was moving right after the 3-way exchange. We made a tentative agreement; gems for the cabin on the lake, so the doc would buy the duplex at a price Constantine would accept. However, in my research in the next couple of days, I discovered that the Greek government customs office would take 30% of those investment gems, as a tax to my client, when he landed at the airport in Greece. Constantine was OK to select one item for the full amount & wear it under his clothing…no duty on personal jewelry! He selected a stunning pendant & a very thick white gold chain.
Why does the title list his as ‘a sexy 90-year-old’? That’s because he was making love to the neighbor & had a heart attack, but survived! What an amazing guy! Real Estate has been such an enjoyable field for me. I am fortunate to work with people like Constantine, I have been able to solve their real estate problems.
When the Market tanks, we learn how to swim!
I won't go into all the details, but I also SOLD 11 town home condominiums that had been marketed for a couple of years w/no success. I also sold a retail strip center, several commercial lots & houses & individual condos.
Ask me some of the other creative things I've done to help a real estate transaction? It's been some of the most enjoyable parts of my career; to figure out a way to make something work that takes thinking outside the box.
Mansion I sold that became The Church called “A Gift from God”
The Board of Directors at a local bank decided I was to be the agent to handle all the foreclosures & REO (real estate owned) for the Key Bank during a challenging financial market. This was partly due to my having earned the Realtors® CCIM, Certified Commercial Investment Member designation.
I listed a foreclosed property for them that was so bizarre. It was the home of a builder who went on a building spree & built about 23 4-plexes of similar design. It was reported that he lived on Pepsi-Cola He built himself a castle-style house with all the trap doors, turrets, vintage fixtures & wall paper. No buyer prospects took this house seriously, but it was on a gorgeous 5 acre piece in the preferred Lower Hillside area. After doing several community meetings to try to get the acceptance of a ‘church’ on this 5 acre residential parcel, we were successful & had a huge Greek festival with the finest food, music & dancing the area had ever seen after the closing. This became the new Holy Transfiguration Greek Orthodox Church. I had convinced the foreclosing bank I represented, to take a prime corner where their small church was located as part of the exchange for them to buy this property. It was on the International Airport Rd. corridor, an advantageous location.
The statement to this day on their website is:
Regarding their goal to get a larger church….“Despite this setback, determination and perseverance prevailed…the parish moved from its old location to what is still considered a “gift from God.” The parish swapped its small property for an 8,000 square foot “mansion” on five acres.” http://transfiguration.ak.goarch.org/our-parish/
The Board of Directors at a local bank decided I was to be the agent to handle all the foreclosures & REO (real estate owned) for the Key Bank during a challenging financial market. This was partly due to my having earned the Realtors® CCIM, Certified Commercial Investment Member designation.
I listed a foreclosed property for them that was so bizarre. It was the home of a builder who went on a building spree & built about 23 4-plexes of similar design. It was reported that he lived on Pepsi-Cola He built himself a castle-style house with all the trap doors, turrets, vintage fixtures & wall paper. No buyer prospects took this house seriously, but it was on a gorgeous 5 acre piece in the preferred Lower Hillside area. After doing several community meetings to try to get the acceptance of a ‘church’ on this 5 acre residential parcel, we were successful & had a huge Greek festival with the finest food, music & dancing the area had ever seen after the closing. This became the new Holy Transfiguration Greek Orthodox Church. I had convinced the foreclosing bank I represented, to take a prime corner where their small church was located as part of the exchange for them to buy this property. It was on the International Airport Rd. corridor, an advantageous location.
The statement to this day on their website is:
Regarding their goal to get a larger church….“Despite this setback, determination and perseverance prevailed…the parish moved from its old location to what is still considered a “gift from God.” The parish swapped its small property for an 8,000 square foot “mansion” on five acres.” http://transfiguration.ak.goarch.org/our-parish/
Waikoloa Beach Resort | Townhome | 2 beds 2.5 baths (Represented Seller)
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Sold Our Listing Full Price!
The owners had sold 2 other townhomes with our firm, and this was the 3rd one in 3 years. We were given the instruction to sell it in a month. We sold it in 2 weeks!
E. Rapozo:
Thank you again for your thoughtfulness and above all thank you for all you…have done for us all these many years. God Bless You! With love and aloha,
The owners had sold 2 other townhomes with our firm, and this was the 3rd one in 3 years. We were given the instruction to sell it in a month. We sold it in 2 weeks!
E. Rapozo:
Thank you again for your thoughtfulness and above all thank you for all you…have done for us all these many years. God Bless You! With love and aloha,
Waikoloa Village | Single Family | 3 beds 2 baths (Represented Sellerer)
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Sold Over Appraisal
April kept it in tip top shape even though the high winds kept blowing the dirt & leaf matter…Attention to detail. Treats and refreshments for agents that showed and meeting the Buyers to help answer questions. It all helps, especially when the selling agent is sincere, honest and willing to go the extra miles to create harmony for all!!
April:
I had a Good Working with Relationship with 2 other Realtors in 2 different companies.
Diane:
"We made it happen together!"
April kept it in tip top shape even though the high winds kept blowing the dirt & leaf matter…Attention to detail. Treats and refreshments for agents that showed and meeting the Buyers to help answer questions. It all helps, especially when the selling agent is sincere, honest and willing to go the extra miles to create harmony for all!!
April:
I had a Good Working with Relationship with 2 other Realtors in 2 different companies.
Diane:
"We made it happen together!"
Mauna Lani Resort | Condo | 3 beds 2.5 baths (Represented Buyer)
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A couple who had owned in a Kohala Resort neighborhood for years, always wanted to be in one of five buildings where they could enjoy the sunset views overlooking the fairway of the popular golf course. They also wanted to get an upgraded unit with 3 bedrooms instead of 2. I successfully made that contingent offer so that we could take the equity out of an investment on the mainland in a 1031 tax deferred exchange. This allowed them to put the highest amount of down payment & defer the capital gain. Not only did we do that to everyone’s delight, but just after that was closed, I listed the 2 BR unit that wasn't on the golf course. I generated more money within three days on the market for that unit, that now two years later, the same plan (on the golf course even!) is selling $20,000 less. The Buyers who wanted to see it had their agent out of town, so I showed it to them; sold it to them; and as soon as their buyer's agent was back, she took over and received her full commission. 😄 The couple and their adorable fluffy dog, enjoy this neighborhood even more now that they have this beautiful Location they dreamed of for so long
April:
Also represented them as Sellers 2X
Drs. Jan & Michael:
"We have accomplished so much in our 6 weeks here. Mahalo for your help, support, gifts, and diligence over the past months. What a successful process!...and Willi sends you a big tail wag, too!"
April:
Also represented them as Sellers 2X
Drs. Jan & Michael:
"We have accomplished so much in our 6 weeks here. Mahalo for your help, support, gifts, and diligence over the past months. What a successful process!...and Willi sends you a big tail wag, too!"
Waikoloa Colony Villas | Town Home | 2 beds 2.5 baths (Represented Buyer)
The Engineer Who Wanted only 1 of 12 Hawai’i Island (Unlisted) Properties
My engineer client had vacationed through me and eventually decided he wanted to retire here. After carefully analyzing the inventory, he instructed me he wanted a very specific view that he wanted. There were only 12 condos with the design he liked that had that view. I sent letters to those owners and one of the owners (I had sold it to 14 years before [I listed {+sold several} the last 68 of these townhomes when they were new.]) I allowed the sellers to represent themselves and save the listing commission. It was a perfect for my buyer, even though he had to buy furniture. We took a day trip to Hilo to a store I have had many of my clients purchase from. It has six bays of furniture. My client found everything he needed except a couple pieces that we located at another within a mile away. My client has a much less stressful life now that he is anticipating his future doing all the Island activities he loves in the not-too-distant future. 😄
R. Evans:
"You read my mind…Thank you for all the information & securing the unit with the view I wanted at a price I could afford even though it wasn’t listed for sale!"
My engineer client had vacationed through me and eventually decided he wanted to retire here. After carefully analyzing the inventory, he instructed me he wanted a very specific view that he wanted. There were only 12 condos with the design he liked that had that view. I sent letters to those owners and one of the owners (I had sold it to 14 years before [I listed {+sold several} the last 68 of these townhomes when they were new.]) I allowed the sellers to represent themselves and save the listing commission. It was a perfect for my buyer, even though he had to buy furniture. We took a day trip to Hilo to a store I have had many of my clients purchase from. It has six bays of furniture. My client found everything he needed except a couple pieces that we located at another within a mile away. My client has a much less stressful life now that he is anticipating his future doing all the Island activities he loves in the not-too-distant future. 😄
R. Evans:
"You read my mind…Thank you for all the information & securing the unit with the view I wanted at a price I could afford even though it wasn’t listed for sale!"
Mauna Lani Resort, Kulalani | Condo | 3 beds 2.5 baths (Represented Seller)
The Owners Thought They’d Never Sell
They bought at the height of the market in early 2006. When the owners never had time to come and stay in the unit; they wanted to sell. The time was just not right with dramatically declining property values. We rented it out for a good rate until we could recover the price. Then we refurbished the paint, steamed the carpets, updated the interior. We worked to get top of the market for it when the competition was almost nothing. Success-we SOLD IT!…then held our breath when the appraisal was ordered. Fortunately, the buyer was willing to go the extra mile to get it.
Michael Scalise:
"Mahalo April! Again, both Alex and I want to thank you. We really appreciate how hard you’ve worked on this; not only managing the property but selling it! Best to you! Take care."
They bought at the height of the market in early 2006. When the owners never had time to come and stay in the unit; they wanted to sell. The time was just not right with dramatically declining property values. We rented it out for a good rate until we could recover the price. Then we refurbished the paint, steamed the carpets, updated the interior. We worked to get top of the market for it when the competition was almost nothing. Success-we SOLD IT!…then held our breath when the appraisal was ordered. Fortunately, the buyer was willing to go the extra mile to get it.
Michael Scalise:
"Mahalo April! Again, both Alex and I want to thank you. We really appreciate how hard you’ve worked on this; not only managing the property but selling it! Best to you! Take care."
Waikoloa Beach Resort, Vista Waikoloa | Condo | 2 beds 2.5 baths (Represented Seller)
Undaunted by the Task
At a time when there were 12 listings and 2 sales in the last 6 months, my clients that I worked 7 years for, selling between 30 & 39 new homes every year in Alaska, really needed to sell their HI resort property. They trusted me enough to cancel all the vacation rental reservations so that the property could be shown easily. I focused diligently wooing the local Realtors®. I had a beautiful virtual tour, shopped and updated the accessories, got repairs as needed and even had a Broker’s Open where each attendee got to select a piece of jewelry for attending. Needless to say, I sold this for a record price per square foot & we all were thrilled! Over lunch a few months later, they told me Of all the agents that have represented them over the years, I’m the best agent they have ever worked with! Wow…that was a real honor, as this is a VERY RESPECTED custom home builder!
John & Judy H:
"Thank you for your very hard work! No one else could have done it, April!"
At a time when there were 12 listings and 2 sales in the last 6 months, my clients that I worked 7 years for, selling between 30 & 39 new homes every year in Alaska, really needed to sell their HI resort property. They trusted me enough to cancel all the vacation rental reservations so that the property could be shown easily. I focused diligently wooing the local Realtors®. I had a beautiful virtual tour, shopped and updated the accessories, got repairs as needed and even had a Broker’s Open where each attendee got to select a piece of jewelry for attending. Needless to say, I sold this for a record price per square foot & we all were thrilled! Over lunch a few months later, they told me Of all the agents that have represented them over the years, I’m the best agent they have ever worked with! Wow…that was a real honor, as this is a VERY RESPECTED custom home builder!
John & Judy H:
"Thank you for your very hard work! No one else could have done it, April!"
Waikoloa Village | Single Family | 3 beds 2 baths (Represented Seller)
The 3 bedroom 2 bath Ranch that became ‘The Ideal”.
A former military man and his wife found their roots in a very lovely family neighborhood with lots of sidewalks & a park that was only 2 blocks away. They were finally able to get a dog pictured here! They loved the idea of having other families near them that they could get to know and find that permanence they missed, being in the military & moving a lot didn’t offer.
They shop where they now recognize people in the shops in the commercial center, enjoy takeout food and restaurants, plus the local grocery store 7 blocks away, where friendly staff know their names! Plus they're only 6 miles from white sand beaches and entertainment & shopping options of the resorts. They are never bored with the hiking and ocean sports. They report this is just what they idealized when they decided to move to Hawai’i!!
April:
I represented the Seller but enjoyed helping this happen for these lovely Buyers. The Seller said:
Dale & Ruth Thomas:
“When it was time to sell the house, April had a contract signed within 45 days of listing, and we could not be more pleased.”
A former military man and his wife found their roots in a very lovely family neighborhood with lots of sidewalks & a park that was only 2 blocks away. They were finally able to get a dog pictured here! They loved the idea of having other families near them that they could get to know and find that permanence they missed, being in the military & moving a lot didn’t offer.
They shop where they now recognize people in the shops in the commercial center, enjoy takeout food and restaurants, plus the local grocery store 7 blocks away, where friendly staff know their names! Plus they're only 6 miles from white sand beaches and entertainment & shopping options of the resorts. They are never bored with the hiking and ocean sports. They report this is just what they idealized when they decided to move to Hawai’i!!
April:
I represented the Seller but enjoyed helping this happen for these lovely Buyers. The Seller said:
Dale & Ruth Thomas:
“When it was time to sell the house, April had a contract signed within 45 days of listing, and we could not be more pleased.”
