Yeah, We Were All Pretty Smart Back Then

J Philip Faranda August 24, 2010

I just spoke to a prospective client who has a bit of a complicated situation with a house he owns. It is vacant, and I met him there today along with a gentleman who turned out to be an older brother. 

Without going into detail, this is not an easy scenario, and the guy clearly needs help. He asked if my listing contract was an “exclusive,” which is a term I hear in the boroughs but seldom in Westchester. The listing contract we use is from the board and it is called an Exclusive Right to Sell. “That’s not what my brother did when he sold his house,” he told me, and we proceeded to go outside and engage his brother. 

His brother proceeded to tell me a series of events which sounded like a for sale by owner’s dream scenario. He had a nice sign. He got 10 calls the first day. He had multiple offers. He told the buyer he chose that it was his way or the highway. He spoke in terms I never heard before, and with good reason- he made them up. But he was rather impressed with his flawless, smooth, carefree transaction. I just listened. When he got done with his tale of success, I asked him exactly when he sold this house. 

Oh, it was May of 2005.”

Yeah. My dog could have sold 15 houses that year if the department of state had reciprocity with the dog license division. Everyone was a genius in the Spring of 2005

The shame of it is that if this guy influences his younger brother in a real estate decision there is high risk of a foreclosure. 

2005 is a far away galaxy. 

 

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