Jerry Hogg was in his mid 70’s and had been working in the service industry for 40 years.
He was in need of very extensive back surgery and that was the catalyst for his retirement. He contacted us and said that he had a realtor come by his shop with an “offer” to purchase his building. Our Team then sat down with Jerry to get an understanding of why he was looking to transact, what had changed in his life to want to retire, and most importantly, what he wanted to do with the equity that he has in his property.
We talked with Jerry at length about how our marketing process yields better results than other major brokerages, but you get the nordstorm-like customer experience when working with Centennial.
Jerry ended up picking to list his building with Centennial despite an offer that had the Buyer paying the Agents Fee. He still felt that our process would lead him to making more money and having less headache throughout the listing process. We generated multiple offers through out the listing period and ran into multiple road blocks with the city.
We then targeted the uses we knew the city would allow and hit the phones hard to find a buyer. We revamped the marketing, honed in on the highest and best use, and 3 offers were generated in the first week of December. We created a competetive bidding environment just like we talked about with Jerry in our Proposal and he had the leverage to dictate the price and terms he wanted for the deal.
Due to Jerry’s situation, he wanted confidence the buyer would close on the deal and an extended timeline for him to move out of the building just in case his back was not doing well. Even with massive interest rate increases from the moment we listed the property, we closed 9501 Alondra Blvd with a 5% discount on price, a 21 day total Escrow, and we closed the deal before the end of 2022.