- Long Beach
- Just days from closing, a panicked client called needing help with their exchange. Prior to the call we had just seamlessly taken the client from a run-down management nightmare to a totally turn-key asset in Belmont Shore. Their exchange with us had gone so well they thought they would do the same with a property in San Diego, assuming that everything would be the same they chose a local broker who promised an easy transaction. After 2 months on market, over bidding the price by 15% and a 60 day escrow, the broker hadn’t shown them one deal to buy.
- Immediately after hanging up with the panicked client our advisors convened a team meeting to discuss the situation. The agent who had taken the call outlined the client’s mental state, their financial requirements and wish list. The first step upon learning the client’s needs was for each team member to think of 5 owners they could call. After the initial calls, the entire team committed to showing the client every deal that is available in their area of expertise as well as calling all owners of property that would fit their criteria. Understanding the needs of the client the team agreed to all work together and all fees would be shared among the team regardless of who found the deal.
- Working together, works! Before the end of first day the client had reviewed multiple suitable buildings. Within a week four different agents had found properties worthy of an offer. When the sale got delayed a week, the buyer had two properties in escrow and not enough money to afford both. Continually working as a team, the client and all the agents discussed the merits of each property and worked together to leverage the clients strength in negotiations to get the best possible terms on the right exchange property. When the 1031 Exchange was complete, the client had the perfect compliment to their Belmont Shore building and a greater appreciation for the power of teamwork.