Crazy Sh*t In Real Estate with Leigh Brown - Episode #63 with Missi Howell

Having multiple customers at one time is part of the job in real estate—but, how about when you have 2 customers ready to make an offer on the SAME HOUSE? This is when things can get tricky...not too trick for guest, Missi Howell. In this episode, Leigh welcomes Missi Howell who has been selling real estate for almost 10 years in Northeast Florida.  Please subscribe to this podcast in iTunes or in the Podcasts App on your phone. Never miss a beat from Leigh by visiting The Leigh Brown Experience.   Time Stamped Show Notes:  00:21 – Introduction for today's episode  00:35 – Leigh introduces Missi  00:50 – Missi has been selling real estate for 10 years   00:54 – Prior to selling, Missi retired from her 30-year real estate banking business  01:02 – Missi realized that she needed to explore a world outside real estate banking  01:50 – Missi's market is the NorthEast Florida market  02:05 – The inventory is really low in Florida   03:00 – A year before listing a certain property, the seller called Missi wanting to know how well their house would do a year from then  03:26 – Missi told them their house needed an update  03:48 – The house is a pool home  04:30 – A year later, the seller wanted to list the house   04:49 – The house was updated  05:30 – Missi tells the seller the possible price range of the house  05:49 – The seller priced the house at the top of the price range  06:00 – The house was listed Friday evening  06:43 – After hours, online requests for showings came in and the seller was approving them   06:58 – The next morning, Missi, the seller, and the office's phones were blasted with calls  07:14 – Within 24 hours of showing, they had 10 offers  08:10 – Sellers can't handle the stress that much  08:40 – Missi did net sheets with her seller, which is what a professional realtor should be doing  09:42 – It took Missi 2-3 hours to finish her net sheets  10:22 – Sellers don't always take the highest offer  10:36 – The seller chose to entertain the highest offer and the one with the highest down payment; both had similar requests, equal financing terms, comparable closing dates etc.   12:07 – Missi called the agents to verify the offers  12:30 – Missi called that agent and it turned out that the seller checked the wrong box in regards to seller financing  12:45 – "Make sure your details are correct" because you could lose a deal due to these mistakes  13:13 – A licensee should review the contract so that both parties know what is in the contract  14:34 – Missi had 2 contracts fall apart on a Friday for 2 different reasons  14:56 – On Saturday, Missi got a call from Buyer 1 that a house was going onto the market that they'd be interested seeing   15:31 – The buyer went to the open house and they wanted to make an offer  15:54 – This particular house was priced to sell  16:10 – Missi agreed to write up the offer and that they'd submit it on Monday as the seller was holding offers until then   16:29 – Buyer 2 called Missi and surprisingly, they wanted to look at the SAME HOUSE as Buyer 1  16:44 – Missi told Buyer 2 that she was already writing an offer for the same house for another buyer and explained that she could, legally, represent both of them  17:01 – Missi also gave Buyer 2 the option of being referred to another broker to handle the negotiations—if Buyer 2 wins the negotiations, then Missi would step back in—they agreed to these terms  17:47 – Buyer 1 wanted Missi to represent them and not Buyer 2  18:05 – Buyer 2 still wanted to go with Missi during the showing because they trusted her alongside with their new agent (the agent that would write their offer)  18:43 – Both buyers' offers were submitted to the seller and they were both Missi's client  19:08 – What's the common denominator here? The pool home. If you're looking for a pool home in Northeast Florida, they're becoming more popular and people are getting smart   19:49 – The pools are becoming more valuable than they were one or two years ago because of the demand  20:10 – Missi continues to learn and educate herself   20:30 – "The ego takes over for a lot of agents"  20:36 – The buyers need realtors to guide them and not just to sit with them  20:49 – When Missi got into buying real estate, she knew she wouldn't want additional years to learn something new again  21:05 – "I re-invest back into me"  21:32 – Missi keeps herself committed to her customers   22:17 – Missi thinks that every realtor should be required to obtain the GRI  22:25 – GRI is Graduate for Realtor Institute and it has been updated  22:59 – Missi's CRS is an advantage for her   23:17 – In CRS, you have the designations everybody can get and then you have designations that no one can get  23:34 – Consumers don't always know the reference  23:48 – Missi looks for CRS and Women Council of Realtors when referring people  24:40 – "If you don't make time for your business, then your business will die"  25:23 – Every now and then, Missi has to stop and rebalance  25:28 – It takes practice, commitment and making appointments with yourself and partner in order to manage your load  26:04 – Reach Missi through her email  26:51 – Tweet Leigh Brown for your very own crazy story in real estate  3 Key Points  The realtor should be responsible for the contract and make sure that both parties understand what's in the contract.  Continue to educate in yourself – invest in your own learning and stay committed.  If you don't make time for your business, then your business will die.  Credits  Audio Production by Chris Mottram  Show Notes provided by Mallard Creatives  Cover Design by Two Minds Design  Original Music by Rimsky Music