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.
Case Study #1
Just get into the market with whatever you got! This case study is a great example of what happens when you get into the market at a low entry price in a central area instead of leaving your money just sitting in the bank doing next to nothing. • JD helped V and A get […]...
Read MoreCase Study #2
Duty to your client – Persistence pays off Property Address: 9671 157th Street Surrey B.C. (Guildford area) • Listed the property for sale in September of 2017 for $1,248,888 • Had an offer and the buyer discovered some deficiencies upon inspection but were asking for a very unreasonably large...
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