023- What's an Exclusion? | #KeriTV Episode #23

6m · #KeriTV - Getting “REAL” about real estate · 19 Feb 16:00

Hey everyone!  It’s Keri TV.  We just closed, like that door closed, on 12120 Sardis.  We are celebrating.  I have a story to tell you about this home.  Stay tuned.

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This beautiful five-bedroom home that we’re standing in front of just closed for 2.135 million.  The reason why I’m so excited to do a Keri TV episode on this property is because this is all about being positive and optimistic with whatever situation comes your way.  For example, I took this listing back in May.  When I took it, it was being leased as a sober living home.  There were about ten to twelve boys living here.  The rooms are all bunk beds.  Of course, you know how boys can be, sometimes.  A little bit messy, a little bit dirty.  It was very difficult to show in general, just because of the condition of the home and working around all these different schedules.  We took it on.  We tried to do some new photos.  We bought some of the old photos.  This is a newer construction home, so it’s absolutely beautiful.  Of course, when you’re a buyer and you’re coming into a 2.45-million-dollar home, you expect perfection.  Right?  You’re a turn-key type of buyer.  Coming into this home didn’t have that emotional feeling when it wasn’t staged.  They decided to move out.  Okay.  We waited a few weeks for them to move out.  They moved out, get it cleaned up a bit, but there’s still some things that need to be done, painting, etc.

Then, we planned this big open house.  We sent out flyers to the neighborhood and postcards.  We did balloons.  We get food.  We go to an open house and it was in that heat wave.  Do you guys remember that heat wave in, like, August?  Was it August?  We get here to do the open house and the power’s off.  Not only is everybody melting, we don’t have cold drinks.  It ends up being such a disaster.  The second open house, I end up getting locked out.  For some reason, the key was taken.  The odds were all against me in getting it to look perfect.  I have a very particular system for the way I list properties to get the emotional feeling and the pictures right.  Everything.  It was getting near the end of the listing period.  Obviously, it’s a little difficult to show a property once you get locked out.  They ended up deciding to list with another agent, which can happen of course.  It was disappointing, considering I didn’t feel like I got a full shot or the right chance to sell it.  It’s okay.  I wish them well.

What happens when you have a listing is there’s something called an exclusion agreement.  This means that anybody who comes to the property when you have it listed, if they come back and buy it afterwards, you still get to be the listing agent on that transaction.  The current listing agent does not receive any compensation for it.  Interesting, right?  Do you guys know what an exclusion list is?  Have you heard of that before?  If you’re a newer agent watching this or any agent in general and you don’t get exclusion lists, do it.    Every single person who comes to the property, get their name and register them.  One day, this amazing couple walks in.  It was when the power was out and we had all our food.  They were the sweetest people.  They were dream clients.  They already had an agent and agent friends.  We ended up following up with each other and chatting.  I absolutely love them.

This is back in August.  Yes.  Heat wave, August.  The property goes off the market.  They really loved it, but they couldn’t do anything until the end of the year.  We stayed in touch.  They followed it.  It gets relisted a month later in October with a different agent, as I said.  The property’s all cleaned up, power-washed, repainted and it looks great!  It’s got a little bit of a stigma because it’s been on the market awhile.  The price has changed.  Different agents, you know.  Perception seems to be negative for properties like that.  This reminds me a little bit about my 949 10th deal, the longest deal of my life.

We wrote an offer in September.  It wasn’t accepted.  This was just before it was relisted.  We wrote a couple of offers and then finally, in November, this awesome lovely couple were ready to write.  We write an offer.  This time, we go for it.  We write a great offer.  They end up getting accepted by the sellers.  They’ve had their time on the market.  They’ve had enough.  They took this offer.  It had multiple offers at the time, so it ended up being the best offer.  That current agent, unfortunately, did not get any compensation.  I was able to represent this lovely couple who had their heart set on this home.  I was able to represent them and the seller.  The day we released contingencies, the other broker sign was taken down from the front yard and it was taken off the MLS.  We didn’t nag them to take it down.  Today, we just recorded, January 15, after getting this listing in May, doing all the opens, power outage, losing it, following up on it, working with this lovely couple, having the exclusion list signed, and the exclusion list was only six months.  In a couple of months, that wouldn’t have even been relevant.

This is definitely a story about staying optimistic and staying positive.  Never getting upset when you lose a client, a listing, or a deal, because you have no idea what’s coming around the corner.  When you have somebody’s best interest at heart – well, I always have my clients’ best interest at heart.  I was very concerned with making sure this was a positive outcome for everyone.  The sellers were in a situation where they had some difficult circumstances.  It wasn’t a traditional sale.  I’m here right now.  It is freezing could outside.  I’m ready to pop some champagne with this awesome couple.  I will be knocking on their door all the time because this house is absolutely gorgeous.  It’s in Mar Vista.  Great, popular Mar Vista. 

This is the tale of getting a listing sold from an exclusion list, staying positive, working with great people, always wanting the best for your clients and everybody involved and things will come back to you, if that’s the case.  Just sold.  12120 Sardis in Mar Vista, 2.135 million.  Happy 2019!  We’ll see you next week on Keri TV!

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The episode 023- What's an Exclusion? | #KeriTV Episode #23 from the podcast #KeriTV - Getting “REAL” about real estate has a duration of 6:22. It was first published 19 Feb 16:00. The cover art and the content belong to their respective owners.