For Professionals of the Probate and Trust Industry

Category: Broker Selection

My Vendor (he) – Your Vendor (me)

I have a vendor that specializes in the complete remodeling of homes that I use again and again and again.  He does a fantastic job.

I have never calculated how much business he has received from me this year, last year, or the year before.

I never calculated how much money he is making on projects.

I do not know his home address, nor do I know how large his home is, and if he has a 2nd home, or other investment properties.

I never think about limiting the amount of business I send his way, because he is too successful. 

I only have two questions for him each time I want to help my clients with a renovation:

  1. Can you handle another renovation right now?
  2. Can you do it in this town or that city?

He almost always replies with:

  1. Sure, I can
  2. Sure, I can

And he gets the business.

If I am not your vendor yet, try me. You will see there is more than the four books I wrote and an ongoing contribution to the CEB.

If you tried me and realized I am good, will you let me handle your next listing, or will you calculate how much I am making and where I live, and then turn to a different agent that may end up delivering less optimal results?

Real Estate Strategy For You?

This past week I had two closings – a Probate sale requiring a NOPA in Lancaster, and a Trust sale requiring a NOPA in Lomita. 

The administrator of the Lancaster sale is located in Northern California, and requested “full service”.  I had my vendor clear out the property, do a sales clean and carpet shampoo within a few days, and we got the property on the market.

The PPF, acting as trustee for the Lomita property requested the same level of service.  My vendor completed a trashout, sales clean, and did some yard cleanup and landscaping to increase the curb appeal. 

Both properties sold above market value.  These properties were both outdated, and both sold to owner-occupants, at values equivalent to renovated properties in the immediate neighborhood.     They were clean and they smelled pleasant, so the buyers could envision themselves making the renovations slowly, based on their vision and preferences.

Both of these buyers did not request any repairs, credit, or price reductions from the seller.

It was smooth sailing.  The beneficiaries of both sales all consented to the NOPA.  Everyone was happy.

Why didn’t the buyers speak up after the inspection, and use their strategy to request a repair, and then, agree to a price reduction in lieu of that repair?

That’s because before I had the sellers accept their offer, I requested to have a call with the buyer’s agent and the buyer, and I anchored that discussion.  I told them both that I need to set the seller’s expectations at this stage, and ensure we’re all on the same page.  If there are any requests for repairs, or credits, or price reductions, the seller will simply move on to the next buyer, and there are many other buyers interested in the property.  Both buyers confirmed they understand, and from that moment on… they both performed beautifully!

This strategy is just one strategy I’ve developed over the years to ensure I deliver a seamless and easy sales process for my clients while obtaining the highest possible purchase prices for the properties I’m selling.

Some clients believe agents need to specialize in a localized geographic market, because they have their finger on “the pulse” of that market, or they “own that market”.   Other clients believe agents specialize in a particular style of property, say mid-century modern, and only hire agents with that specialization when they have a property to sell.  Don’t buy into this! It’s just a marketing gimmick an agent uses for personal branding.

As a real estate broker who has been doing this up and down California for almost two decades, first representing financial institutions, and later representing fiduciaries exclusively, I can tell you that the most important attributes of the agent you hire are their negotiations skills and their contract knowledge, and that, an agent obtains with lots of transactional experience.  Doesn’t matter where they’re located, and whether they have their pulse on the local market.  If the agent has transactional experience, the agent knows how to market real property, and how to evaluate any given market with the tools at hand. 

Just some tips on what to consider next time you need to hire a real estate agent to sell your property.  Ask the agent you’re considering how many properties they’ve sold in the past year, and, how many they’ve sold since they became licensed.  That will tell you how experienced the agent is.   You should also ask what the agent’s role is in the sale.  Some agents are hands-off and are not as involved in the sales process – they have a team that handles every step of the process, and the listing agent is busy seeking the next listing. Sure, the transaction will close, but had your agent been more engaged and utilized strategies to act in your best interest, perhaps you would have avoided issuing a price reduction to a demanding buyer, and, perhaps you would have been able to obtain a higher purchase price if your agent was proactive and pushed the buyers to offer more, and more.

Food for thought.

I’ll Get You The Next Listing!

From time to time, I speak to a potential client that tells me this: “I’ll get you the next listing when I have one in Beverly Hills”.

Very exciting but not likely for most of my potential clients in the probate industry to have homes to sell in Beverly Hills, so, long overdue, below is the list of cities and neighborhoods throughout California in which I have sold residential and/or commercial properties to date…. If you have a property to sell anywhere in California, I am happy to help.

Adelanto

Agoura Hills

Aguanga

Alhambra

Altadena

Alturas

Anaheim Hills

Anderson

Apple Valley

Arcadia

Arleta

Artesia

Azusa

Bakersfield

Baldwin Park

Beaumont

Bel Air

Bell Gardens

Bellflower

Beverly Hills

Big Bear City

Big Bear Lake

Blairsden-Graeagle

Blythe

Bonsall

Brentwood

Buena Park

Burbank

Calabasas

California City

Camarillo

Canoga Park

Carlsbad

Carson

Castaic

Cedarpines Park

Ceres

Cerritos

Chatsworth

Chino Hills

Clearlake

Coarsegold

Coleville

Commerce

Compton

Corning

Corona

Costa Mesa

Cottonwood

Coulterville

Covina

Crescent City

Culver City

Desert Hot Springs

Douglas City

Downey

El Centro

El Dorado Hills

El Monte

El Segundo

Encinitas

Encino

Fairfield

Fontana

Frazier Park

Fresno

Galt

Gardena

Glendale

Glendora

Glenn

Granada Hills

Grass Valley

Grizzly Flat

Hacienda Heights

Harbor City

Hawthorne

Hayward

Helendale

Hermosa Beach

Hesperia

Hinkley

Hollywood

Homeland

Howthorne

Huntington Beach

Huntington Park

Imperial

Indio

Industry

Inglewood

Irvine

Joshua Tree

June Lake

La Habra

La Mesa

La Mirada

La Palma

La Puenta

La Verne

Laguna Beach

Laguna Hills

Lake Almanor

Lake Arrowhead

Lake Balboa

Lake Elizabeth

Lakehead

Lancaster

Lawndale

Lemoore

Littlerock

Lomita

Lompoc

Long Barn

Long Beach

Los Altos

Los Angeles

Lucerne Valley

Lynwood

Madera

Malibu

Manhattan Beach

Marina Del Rey

Mariposa

Marysville

Maywood

Mcarthur

Menifee

Merced

Mission Hills

Modesto

Monterey Park

Moreno Valley

Morro Bay

Mount Shasta

Mountain Center

Napa

Needles

New Cuyama

Newman

Newport Beach

North Hills

North Hollywood

Northridge

Norwalk

Oak Hills

Oakhurst

Oakland

Oceanside

Olivehurst

Ontario

Oxnard

Pacoima

Palm Springs

Palmdale

Panorama City

Paradise

Paramount

Pasadena

Paso Robles

Perris

Phelan

Pico Rivera

Pinon Hills

Playa Del Rey

Playa Vista

Pomona

Porterville

Portola

Rancho Cucamonga

Rancho Mirage

Rancho Palos Verdes

Rancho Santa Fe

Red Bluff

Redding

Redlands

Redondo Beach

Redway

Redwood City

Rialto

Richmond

Ridgecrest

Rio Dell

Rio Vista

Ripon

Riverside

Rocklin

Rohnert Park

Rosamond

Roseville

Rowland Heights

Sacramento

San Bernardino

San Clemente

San Diego

San Dimas

San Fernando

San Francisco

San Gabriel

San Jose

San Leandro

San Luis Obispo

San Mateo

San Pedro

Santa Barbara

Santa Clarita

Santa Maria

Santa Monica

Sausalito

Scotts Valley

Seal Beach

Seaside

Sebastopol

Selma

Shafter

Shasta

Shasta Lake

Sherman Oaks

Simi Valley

Sonora

South Gate

South Pasadena

Squaw Valley

Stockton

Studio City

Sun Valley

Sunland

Sylmar

Tarzana

Temecula

Temple City

Thousand Oaks

Torrance

Tracy

Trinidad

Truckee

Tujunga

Tulare

Turlock

Twain Harte

Twentynine Palms

Valencia

Vallejo

Valley Springs

Valley Village

Van Nuys

Ventura

Vista

Weed

Weldon

West Covina

West Hills

West Hollywood

Westchester

Westwood

Whittier

Winnetka

Woodland Hills

Yucca Valley

Dr. Richard Corn

This is the story about my dentist. My “current dentist”. And it has to do with probate real estate so please read on (and if you need to read the post more than once to understand the connection, please do).

Let me be clear. I think Dr. Corn is amazing. So, he is my “current dentist” and until he retires hopefully not anytime soon.

Maybe your dentist is amazing, but read on just in case.

I walk into a tiny, yet fancy reception area, say hello, and each and every time I am immediately invited to come to the back to see Dr. Corn. There is never a wait. Dr. Corn replies back with a hello and also asks a question or two about the situation related to my teeth. He does have an assistant, and she is very nice, but he does most of the work, including teeth cleaning. He is more thorough than any person that has ever cleaned my teeth. I think he is passionate about them!

He is as honest as they come. Never tried to offer me services I did not need and if something can wait, or is not critical, he tells me so. You don’t have to believe me that he is great. Check out the tens of five star reviews he has on Yelp.

https://www.yelp.com/biz/richard-corns-beverly-hills-dental-group-beverly-hills

One more thing.  When I am there, which is usually for an hour, I rarely hear the phone ring. I am just not sure how he stays in business and supports his family. I cannot imagine ever telling him that he is the best but that I need to also see other dentists, to spread the business around. Would you?

So if you live on the westside of Los Angeles, and are not satisfied with your current dentist, do give him a try.

He is located at 8920 Wilshire Blvd #406, Beverly Hills, CA 90211 and his office number is 310-854-1845. When you call him, tell him you heard he is the best and you would like to experience this for yourself…

Should You Select A Local Real Estate Broker?

Some prefer to hire a local agent, even if they do not have probate experience or even significant real estate transactional experience. Others insist on hiring a probate expert regardless of the distance of the agent to the property.

I asked a number of those that insist on a local agent: “why only a local agent?”

Their typical response is “The local agent knows the market better. The local agent has their finger on the pulse of the neighborhood”.

On a personal note, I can tell you that having sold properties all over California, it is very simple to become a “local expert”.

I do visit my listings anywhere in California as standard practice, and meet with my clients there.

So how does one become a local expert without being local?

The internet has a wealth of information about neighborhoods, towns, and cities, and the latest happenings and news!

There are websites that provide information and rating about the quality of schools in each neighborhood.

Google maps satellite data provides me with a look from above. I zoom in to the subject property, zoom out to the neighborhood and then quickly zoom in to various locations in the neighborhood to see what the streets, shopping, parks and other points of interest look like within a certain distance of the subject.

I then look at the street view of the subject property and “drive” the streets around the property to get an additional impression.

It is quick to subscribe to a local MLS for a few months to sell the property to the local market. Once subscribed to any MLS in California, I’m able to study the comparables that are local to the subject property, derive an appropriate CMA from the same data that a “local agent” would, and list the property in the same MLS as a “local agent” would.

Over the years I have subscribed to over 30 different MLS systems and then unsubscribed once the property or properties there sold, and would re-subscribe when needed.

So, an experienced probate broker, can quickly become a “local agent” and provide you with advantages that a “local agent” may not be able to provide.

And who will do that open house you ask? I have local agents all over California who love to conduct open houses.

When working with me, you end up with a probate experienced agent that is also a “local agent” no matter where in California your property is located.

For more information about this or other probate real estate related topics, please contact me at 323-606-1919 (call or text).

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