Palos Verdes Lifestyle - Norma Toering 310-493-8333

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From Contract to Close

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Your offer to purchase a home was accepted!  Those are wonderful words for most buyers to hear, and most sellers are relieved to know they are close to achieving their goal as well.  Buyers are delighted to conclude the endless search online and in the streets of their neighborhoods of choice.  Sellers are thrilled the need to vacate their living quarters during showings and the daily task of keeping the house "show ready" are drawing to a close.  It's a happy time for both parties to the contract.

Then reality hits.  There are inspections to do, repairs or credits to negotiate, bids to obtain, tons of disclosures to complete, sign and deliver.  Appraisals and perhaps even a termite fumigation will be required.  Maybe mold will be found or a structural defect. Agents know this is where the real work begins.  Showings are simply the prelude and pretty part of selling and buying real estate.  This is also when negotiation skills separate the wheat from the chaff and where agents establish their true worth and earn their commission.

Over the years I can recall advising a young couple to obtain an opinion from a structural expert even though they wanted to accept the charming little cottage in its "as is" condition.  The bid to repair the foundation came back at $40,000 and my buyers walked away.  Another client was about to accept an appraisal $100,000 below what I believed to be the property's value.  Instead, I wrote a 27 page rebuttal and was successful in getting that appraisal thrown out.  A new appraisal was done and my client netted just over $100,000 more as a result of not accepting the first appraisal.  She was thrilled to pay me a commission of less than 25% of the additional money she saved. I could go on and on with similar situations we've encountered. Every agent worth his salt has many of these stories to share.

Norma at Queen's Necklace

A typical day in an agent's life will involve a long list of "value added" tasks.  For example today we are waiting for a buyer's acceptance of a seller's response to the buyer's request for repairs. It has taken us a week of back and forth to reach an agreement. An appraisal is due, and late last night a former client who is about to begin a major remodel turned to Josh and I for help because the appraisal for his current home came in unacceptably low.  He asked us to review it and see if we agree or can give him some points to refute.  I'm canceling a listing because the seller wants to raise the price and the market is indicating a price reduction is needed.  I'm touring new listings and will film a neighborhood video for marketing purposes while we are out and about in Palos Verdes neighborhoods today. On the lighter side, I'm sending photos of a past client's two dogs to an agent in hopes of getting her approved for a lease while she remodels her current residence. Although her application was originally denied due to pets, the landlords are softening since the property is still available.

From contract to close is actually my favorite phase of a real estate transactions.  There are problems and issues to solve and overcome on a daily basis. It's similar to what goes on behind the curtains in a theatrical production in order to present a flawless experience.  There's a learning curve that must be climbed and it involves both knowledge and experience.  I often say to Josh the definition of a real estate agent is someone who solves problems all day long.

The journey from signing the contract to closing escrow can be a long and winding road, but one that is easier to traverse with the help of an agent who has made the trip many times.  Expert mountain climbers enlist the help and guidance of Sherpas who are familiar with the local terrain and are equipped to lighten the climbers' load.  The right real estate agent can do the same for you when you are ready to venture into the unfamiliar territory of selling or purchasing real estate.

- Norma & Josh Toering
Charlemagne Intl Properties
(310) 493-8333

ToeringandTeam@gmail.com or our Contact Form

Norma and Josh Toering - Palos Verdes Real Estate Agents

Charlemagne Int'l Properties

Sell Smart, Buy Wise and Live Well

Norma Toering - Real Estate BrokerNorma Toering & Team
Broker-Owner - Charlemagne International Properties
310.493.8333 - Email Norma

 

 

 

 

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Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Comments

I love the area you work in and at times long for it...The values are there!

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) over 3 years ago

Richie Alan Naggar author PEARLS FOR THE SOUL .com books Yes, I so agree Palos Verdes is a unique and beautiful little pocket of Los Angeles County.

Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 3 years ago

Norma - From contract to close is where our jobs get interesting. The creativity to find resolutions, the negotiations to find common ground, and just pushing through the entire process to ensure a timely closing. It's also exciting to know that once you have a contract, you are on your way to getting paid, if everything works out.

Posted by Troy Erickson, Your Chandler, Ahwatukee, and East Valley Realtor (Diverse Solutions Realty www.ChandlerRealEstate.weebly.com) over 3 years ago

That is the absolute definition of value added, Norma. Buyers and sellers certainly get the best when they hire you. That is impressive. Our one duty is to protect our clients and anyone looking for an agent had better do their homework. I just represented a buyer in a transaction where the only reason the seller, listing agent, and their brokerage didn't end up in legal action was because my buyer was the voice of reason throughout and held me back. The incompetence of the listing agent was staggering. You set the bar.

Posted by Jane Peters, Connecting you to the L.A. real estate market (Home Jane Realty) over 3 years ago

I always thought my true calling in life was to be a Sherpa, and now I can say that I am one : )  A financial sherpa...I may need to change my business cards.  Great post Norma!

Posted by John Meussner, #MortgageMadeEasy Walnut Creek, CA 484-680-4852 (Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA,) over 3 years ago

Norma,  Half the battle is in the attitude.  We can all learn from your.  Well done.  mark

Posted by Mark Don McInnes, Sandpoint, North Idaho Real Estate - 208-255.6227 over 3 years ago

Norma Toering Broker for Palos Verdes and Beach Cities - You've given buyers and sellers some great examples of how an experienced real estate professional, like yourself adds value!  Great post!

Posted by Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com, Tahoe Real Estate Agent Helping Buyers and Sellers (Coldwell Banker, Tahoe City, CA (530) 414-1260) over 3 years ago

 Good morning Norma. The battle we all face is how to be professional. It seems as if you go out of your way to add that element in all that you do.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) over 3 years ago

Troy Erickson True, anyone can unlock a door, but it takes a certain skill set to move from contract to close.

 

Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 3 years ago

Jane Peters I believe agents need to promote the value we add to the process of selling and buying, not necessarily how many homes we've sold.  

 

Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 3 years ago

John Meussner  Happy to contribute to fulfilling your goal, and you're an excellent financial Sherpa!

Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 3 years ago

Mark Don McInnes, Sandpoint The high road is often more difficult, but always worth the extra effort of additional energy expended on our client's behalf.

Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 3 years ago

Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com Thank you.  We can't all be experts in all fields, and it's best to let a professional help. If I have a dental need I go to a dentist--ditto for my accountant, attorney etc.    Real estate  can get complicated and it's best to have a pro on your team.

Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 3 years ago

Michael Thornton   Some might say I go too far with my due diligence...another agent once told me I "needed to dumb it down a notch or two."  He was from the Buyer Beware school of thought.

Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 3 years ago

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