Case Study #3

Clients that are willing to listen and follow advice
Property Address: 5832 170A Street, Surrey B.C.
• My clients purchased the property in August of 2015 (completion October 2015) for $620,000
• At this point, the Vancouver market was on fire but the Fraser Valley hadn’t fully caught up yet
• Also, historically, data shows that July and August are slower than other months on either side (i.e. June and September) as people are on holidays, and inventory is limited
• Upon inspection, we discovered that a new furnace is needed for the property with a cost of about $4,000-$5,000
o Given that the summer market was “slow” in terms of inventory and buyers actively looking, we tried to get the Seller to reduce the price by the same $4-5K however they only were willing to do $2,000 to make price $618,000
 My client was not pleased by this but as a reasonable client who follows my advice, I explained to him that if this property were listed in June or September, it would likely sell for considerably more with multiple offers potentially
 As it was a repeat client, I offered some money back to help them handle the cost of putting in a new furnace
 By the time we reached subject removal, there were multiple parties waiting for us to back out of the deal or hoping that we couldn’t get financing to remove subjects
• Fast forward to 2017 and we re-sold the property for $917,000 and many favourable seller terms
• In just under 2 years, my clients made a cool $300K on the property all because they didn’t let a couple thousand dollar furnace cloud their judgment with the right advice
• Since selling the home, the new owner has tried to sell it but has been unsuccessful
• This is a perfect example of helping clients GET IN at the right time and more importantly GET OUT at the right time.