The S.I.P Review

THE S.I.P REVIEW

It's On My Heart...

A True Professional...

Just sold my mom's condo in Sun City. Actually I did almost nothing, Dennis Sallee did it for me. He is a close friend, we went to North Phoenix Baptist Church with him and his wife Suzanne back in the day. So when my mom made a decision to move to Colorado to join us in September of 2009, we listed the home with Dennis. He came out, sat down, asked us a lot of questions. How soon did we need to sell it, what were our expectations, did we know how the process worked, all kinds of stuff. He even asked my mom emotional questions, like what were some memories of the home, what she hoped to accomplish with the move, that sort of thing.

What to Expect?

We really did not know what to expect, except that the market was tough in Phoenix, and today the buyer is in control, they have all the cards. So off we went on a great adventure. OK, so not so much an adventure as a rude awakening. Dennis first asked us if mom needed the money to move to Colorado. She told him she did not, but also wanted to get this behind her, on with her life, so to speak. He then asked how much time did we want to go buy before it sold. This was in September, so the prime selling season was just starting, I told him that it would be great to get it done in 6 months. He then told us what had to be done to sell it. It had to be mint, not a single blemish. The prospective buyer had to look at it and say "wow!". So we started by painting it completely. Even some areas that had been painted a few years back. Dennis had the names of two painters, we picked one and trusted him to do the job, I never even saw it. Dennis did, he was there to help manage the process from start to finish. We then replaced the water heater and dishwasher, two items that had past their prime years ago.

The Analysis!

Dennis did a price analysis to see where the others were selling for, not what they listed for. Here is where we got a wake-up call. Only two condos like my mom's had sold in the last 6 months, for about half what my mom's place appraised for in 2006. So she was not thrilled. I did remind her she paid even less for it in 1997, so it's not like she was losing money.

Dennis started at a number we were comfortable with but had some room to move if needed. No one looked. He did not do open houses, not the way homes are sold today. He marketed it on the internet and used the MLS and realtor tours. In 60 days we dropped the number $10,000. Then another $10,000. At about February he began to get some traffic, and we sold it in March, closing 6 months and 3 days after listing. For a number where my mom made about 50% profit compared to what she bought it. Worked for us.

Here is where it gets interesting. The buyers went to our old church, Calvary Chapel (yes, the one on I-17 where the big sign is). It truly is a small world. They also had a home inspector do a complete exam of mom's little condo. They found several things that probably would have been overlooked in earlier times. A couple of electrical items needed attention. So I called Mike Carroll (the sales wiz at Donley Service). He hooked me up with an electrician he knew and trusted, who did what needed to be done fast and efficiently. The new owners also wanted a TV antenna removed and a cracked window replaced, as well as a repair to a section of guttering. Dennis said he would get that done, and he did.

To summarize, we are over 1000 miles away. Not possible to get us back there to do the things the buyers wanted. We had to depend on Dennis, and he got the package put together perfectly. He sold it almost to the day he predicted, and got top dollar. By top dollar I mean it sold for about $20,000 more than the other two condos (same size) that sold nearby. To say we were pleased is an understatement. Thrilled is more like it. My mom has friends who she met after moving up here in September, they have not been able to sell their homes (one in eastern Colorado, another in Chicago), so they are moving back to their old home. They were living in a retirement home up here, decided to go back and try to sell later on in the year. Lost moving money, time and energy. My mom said, "I guess I was lucky!" I replied, nope, you just picked a very good realtor.

Here is this month's idea!

Are you the type of company representative who stands out from the crowd at the bottom of the ladder? At one point I heard there were more realtors in Arizona than Marines in Iraq. Lots and lots of them. Sounds like another trade I am familiar with. So do you do what-ever it takes to help your customers? Even more than they hoped for? You have to today. This is not your father's economy, this is all new. Are you connected with other companies who can do the things you can't? Such as electrical, plumbing, roofing, the other "trades"? I would get hooked up and be sure the company you refer your customers to will do what they claim they can do, and not ruin two reputations. And I would be ready to help my customers more this year than ever before; they need advice and counsel today on a number of things. There are huge claims on energy efficiency, rebates, tax opportunities of all kinds. The customer needs to know that you have their best interests in mind, know what the answers are, and can also be trusted completely.

So I would be the person who takes the customer's concerns and makes them go away. How do you know what their concerns are? Ask questions. Lots of questions. Good questions, not sports or politics or even religion. Questions about their family, home, what they want to accomplish, that sort of thing. Then offer them solutions that work. You may use your services and products to help them get what they want, or you may have to do more than what you did in the past. Maybe even refer them to another company, one that you trust and would do the same for you.

By the way, here is Dennis's contact info, just in case you need a friend in the real estate business: He won't tell you what you WANT to hear, he'll tell you the truth, and then deliver on his promises.

Dennis Sallee
Realty Executives
Office: 480-948-9450
Cell: 602-989-5812

Thanks for listening,

JIM HINSHAW
Owner/President
Office: (970) 635-5675
Cell: (602) 369-8097

JimHinshaw@SipTraining.com
www.SipTraining.com

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