The past week and a half, we’ve been working through a bit of a snafu on one of my client’s contracts.
Perhaps you’ve seen the meme that goes around every so often — usually around the time that property tax assessments come out.
And while it’s meant to be tongue and cheek, like most, there is a lot of truth behind the humor.
In every transaction, there are always multiple “opinions” on value. After all, as we’ve written before, price is what price is. But value can always be manipulated. Heck, our entire approach is built around helping homeowners take strategic action to increase the ‘perceived value’ of their homes.
That said, when you push the envelope on price — as we often do — you will run into a challenging discussion from time to time. And of course, that’s when those “other opinions” come into play.
The loudest opinion of all is that of the appraiser. Even when both buyer and seller agree that the property is probably worth X, the loan appraiser often has the final say.
And truth be told, that can be frustrating.
Which brings me back to the recent “snafu.”
Last week, we had to submit a rebuttal argument to an appraisal that we found to be artificially low. At least, that’s the nicest way that I can put it. In doing so, I spent an entire morning — nearly four hours — researching, plotting, and crafting an argument that I felt was impenetrable.
When I sent the three page letter to the lender, he called me back and said, “Man, thank you for the time you put into this … you’d be amazed at what I usually get back, when I task other Realtors with giving me something that I can use. It’s usually a couple sentences that amounts to little more than this is wrong.”
Then he joked, “You’re the kind of guy who when there was a project due in class always did twice the work of everyone else, aren’t you?”
We had a laugh about that. But again, there is a lot of truth behind the humor. I told him, “If we can’t make this thing work, it’s not going to be for lack of trying on my part. I can assure you that.”
I’m not looking for extra credit, I’m just committed to giving an A+ effort the first time around. Because sometimes that’s the only chance you get.
You see, I’ve always taken a “Best in Class” mentality to everything I do. And I like to align myself that operate from the same way field manual.
Take for instance the new listing that my associate, Ryan, and I brought to market this week. A beautiful property in the Northwest Hills / Mesa area.
A little over 5 years ago, I helped Tina and Shane purchase the home and it needed some work. At least, that’s the nicest way that I can put it.
I’ll admit, they had a vision for the property that I could not see at the time. But with his construction experience and her eye for design and details, they transformed the property from an eyesore to a jaw dropper.
See for yourself. Take a look at these before and after shots.
Five and a half years later Tina’s son, Ryan, and I have the pleasure of helping them get it sold. And no matter how that process unfolds, the one thing you can count on is that we are going to fight for every last penny of value.
Perceived, or otherwise.
At Three Pillars Realty, when it comes to you, your family and your financial well being, we simply refuse to cut corners.
And thats a truth, with no humor behind it.
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