|
Sounds like you are on track now & good luck with it. Keep up the work on the former no-service realtor too. I once got a judgement against a guy in small claims court for something like $1,600 and knew I probably wouldn't see it. 4 years later I got a call from a gal who was apparently marrying this idiot, and they found out it was difficult to get any loans on cars, furniture, etc. with the judgement on his record. So I actually did end up getting my money. Also it's not only "no service" realtors who don't do their job. About 7 years ago I was selling an income property for a little over $1mil. and engaged a realtor recommended by a couple of people. I negotiated a commission rate of 4.6% with him with a 3 mo. contract. The market was going gang busters at the time in SoCal, so I assumed the property would go pretty fast and thought a commission of around $50K was OK. He listed it in the MLS and would call maybe once a week to tell me he had answered some calls on it and "gone over the numbers" with someone. At the end of the 3 mo. it wasn't sold and I signed another 3 mo. contract. I wasn't hurting to sell the property, but at the end of the next 3 months I told him I wasn't renewing it. I had a little work I wanted to do on the property and decided after that to just put the thing in the paper with a listing over Friday to Sunday. I ended up getting 32 calls that weekend and sold the place by the following Thursday to a real estate agent who bought it for her own portfolio. I agreed to pay a 1% commission that she would pass on to her agency as a sale. It gave me great satisfaction to tell the original guy when he called a few weeks later on, that I had sold it in 7 days for more than he wanted to list it for.
__________________
Marv Evans
'69 911E
|