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Take Chad's Advice
Chad disucsses his big deal, his "Chad-teau" wine, and why Chris earned his respect.
When first walked into my listing appointment at the Gables Club to meet Trayer I need he had something beautiful to show me. The Gables Club is the premier luxury highrise with hotelesque amenities situated in the heart of Coral Gables. After walking through the unit the view stood out the most. When discuss the listing price with the seller may want $6 million because that's what they have invested in it, but the reality is the condo isn't worth it. When it comes down to it, my clients are savvy real estate people and understand that market dictates the price. The numbers are what they are and that's why I originally insisted on listing the property at $5.1 million.
Gables Club Open House
The unit had a breath taking wine cellar to compliment its views so I looked at that as an opportunity to marry both of these features into a wine and cheese open house inviting only the top brokers in the area. "Chad-teau" was a cleaver way for me to get the listing information infront of the brokers while also associating with a positive aspect, a great bottle of wine. I still get phone calls today because of it.
The Offer on Gables Club
Ty took a big risk presenting the offer in front of other brokers and I respect that. He knew what his clients wanted and was looking to get the deal done quickly at $5 million. Because that is a very strong offer for the unit. The most recent sale in the building which was on a higher floor and a nicer unit sold for $4.95 million.
Negotiating with Seller
When meeting up with Trayer, I knew I had to be prepared with research backing up the offer to make it clear that it this was above the market value and to take the offer and move on to the next project. Trayer has a great poker face and I never really know what he is thinking -- but I knew that this offer was worth the gamble. I was happy to see Trayer take my advice and accept the offer.
Chris Losing the Boca Raton Listing
I feel for Chris. I've been in his position many times before and it's hard. But him not accepting the reimbursement offer after spending $55,000 on marketing the unit, is a bold move and I respect that. You never know when a seller will come back around so its important to always show class so that they can use you again in the future.