Episode 10: Fastest Escrow Ever Off Market!
Keri: KERI TV and we are in hot North Hollywood and I'm with one of my favorite agents and one of my closest friends Adrienne Martz from the agency and we're letting you know about an amazing sale that we just had off market. We want to tell you a little bit about the ins and outs of how it went.
We are in North Hollywood which if you don't know is a really hot pocket in the valley. There's a lot of single-family homes still under 700, 600. So, we were introduced to the seller on his mother's house. He grew up in this house 50, 60 years ago and we ended up going over to the house one day. We took a look at it, we ran some comps of course as agents do and then we met with the seller the next week at his office in Beverly Hills.
We met with him. We gave these two options. One, we can push it off market completely. We can do our agency special, we can promote it to the agents we know who sell property in the neighborhood, the Top Agent Network, the in-house agency network or we can do a big open house, put it on the MLS, balloons, food trucks, have everybody come. We met with him, sent him drafts of everything. He has his time to make his decision. We followed up a week later, didn't really hear much. Followed up again, He was in Hawaii, followed up.
Adrienne: Very busy successful guy.
Keri: Yes. Very, very successful busy guy. So eventually we thought, well let's see if we have anybody for it. So we spoke to our investors.
So then we decided to put it out to the agency network and the local agency, the local agents in the area. We ended up having two people come, take a look, right? You ended up showing them here.
Keri: Literally two people, we got two offers on it.
Keri: The phones were going off the hook like my phone rang with (818) numbers for a week straight. From this listing, it was nuts. So anyways, we ended up getting these two great offers. We bid them up against each other. We got all the terms. This is all off the market mind you. We submit everything in one single file to the owner who by the way hadn’t listed with us, hadn’t agreed to list with us, and not really responded. We didn’t really know what happened. Anyways, and then we get the email, do you have time to chat? And I honestly was a little nervous, he’s either going to freak out or he’s going to love us and we get on the phone and he was absolutely blown away by how we pulled this off and brought him these offers. So we ended up accepting a 10-day offer cash, non-contingent. They wrote the offer with no contingencies which is crazy. Both these people were still kind of up to bat. So we go to open escrow and I get on the phone with him and he's like, “You know, I just don't even know how you girls did this, I wasn't even sure which way I was going, this is very emotional process for me and you guys just button something up and hand it there right to me and I just thought, this is perfect”. So I was a little shocked to hear that he's just I guess there's a lot more at stake for him in this house growing up here and we have to remember that these deals are a lot more emotional not just transactional, of course. So it was a quite an amazing situation, sneaking in here.
Adrienne: And this was all in the matter of 3-4 days.
Keri: Yes, right, exactly. The waiting time period, yea and offers came in. So we're just closing escrow on it today. We're going to give our seller a call when we're done with this. So we're just talking about the power of these pockets and how quickly you can move things if you need to.
Adrienne: And easy.
Keri: How easily you can move things. So he basically came over here, we moved all of his mother’s stuff out and cleaned. He's done. He has a no fuss transaction when he first talked is on the phone. That’s what he said, I don’t want a fuss. So if our client wants a fuss we fuss it up but if they don’t. We can do it that way also. So congratulations to these new buyers and what they're going to do here at this great house. That’s our fun story, our inside scoop into real estate market and how it really works and all the hustles goes into it. So stay tuned for next week's episode. Bye.