He genuinely earned our business and is now our family broker.
We have been in the business of owning and managing investment properties for over 30 years. We get calls almost every day of the week from brokers who want to list our properties for us, but we aren’t interested. It happened one day that we were going to trade out one of our properties. It was a unique 100-year-old, mixed use property in West Hollywood that had been in our family since the 1950s.
We got a call from Edan, and he was friendly enough during the first call, but we were reluctant to meet. We just didn’t know him. He was persistent though. Many brokers that call, we just never hear from them again but since the first call, Edan called us regularly. When we talked, he was friendly and professional, and he knew loads about the area and some of the neighboring buildings that had sold. After a few calls, we felt completely at ease and knew we were in good hands.
Our property wasn’t going to be an easy one to sell. It was unique and demanded a high price but it was quite old so it was a challenge to price it just right and present it to the market, so buyers understood it.
During the marketing period, a similar building down the street sold for way below our asking price. Regardless, Edan advised us to stay the course and we received 10 offers, ultimately getting the price we were looking for!
That was the “easy” part. But this was an exchange deal. We still had to reinvest. From the very beginning, Edan showed us properties that fit our precise criteria. Even when we didn’t want to see them (this is an exhausting process) he didn’t relent. He knew the best thing was for us to continue moving forward, so he carried us forward.
While we were in escrow, we wrote offers on multiple properties and, the one that we thought was “the one” didn’t work out. Edan rallied, and quickly found us another one that was truly the right one. We won the bid against the competition because he took the time to know us and represented us well as the best buyer. He got us great terms and was able to get us hefty credit for the purchase of our upleg. The main thing we were worried about (because it’s the big thing that can go South if done incorrectly in these deals) is that he managed to close both sales within a month of each other simultaneously! The happy ending is that our cash flow and our new building is 20% higher than we were making with our all building.
At this point, Edan is our family broker. Our son and daughter-in-law have done quite a few deals with Edan now. He made us feel confident he can carry out these exchange deals effectively. We are listing another apartment building with him as well. We highly recommend Edan. He didn’t simply exceed our expectations on a single deal; he genuinely proved himself an expert in his field in every deal. He earned our business.
