3
Motivated Seller
It took a bit of research—more than the possibility of a sale warranted—but Cindy Claybourne found herself interested in the project and so she pursued it. Why else had she chosen a field in which she could pretty much set her own hours, if not to have the freedom to spend a few of those hours doing something for its own sake, and not just for money? She had no appointments that morning. The agency's files and the property records in the Guilford County offices were open to her. And so she began to discover the history of the Bellamy house.
The recent history came first. An owner who was anxious for a quick sale of a deteriorating property—the students renting apartments there were notified that the house would not be available starting in the fall; by midsummer, all were gone. But there were no takers, not at the price asked. The owner moved to Florida. At first he phoned now and then. But the agent who first got the property moved with her husband to Atlanta; the next agent got fired for general lousiness; and the agent after that was a hotshot who lost interest in property that couldn't sell quickly. No staying power. Cindy knew the type, didn't like them much, and resented the damage these fairweather agents did to the profession. They skimmed off the cream, sold the houses that any fool could sell, and then left the tough projects to the real agents like Cindy. The result was that the most shallow, ruthless agents made the most money. What a system.
And the Bellamy house was a prime example of what could happen to a property handled that way. The owner didn't want to sink more money into the house in order to fix it up. But he also didn't want to lower the price. Each time he finally dropped the price it was by too little and way too late.
All that was before 1992, when Cindy joined the firm. For years now the file had lain undisturbed. The owner might be dead, for all Cindy knew. So... she called him.
To her surprise, he not only wasn't dead, he even answered his own telephone. "That old piece of junk?" said the old man. "Every year when I pay the taxes on it I just want to spit."
"Well, we have a potential buyer."
"You've got to be kidding. The house hasn't blown down? Didn't Hurricane Hugo finish it off?"
"Still standing."
"Well, ninety thousand dollars and not a penny less."
"You already dropped the price to eighty-four nine back in '89."
"Did I?"
"And it didn't sell then at that price."
"I'm quite aware of that! Don't tell me my business. That's a valuable property!"
With a smile in her voice, Cindy ignored his warning. "A property is worth what someone will pay for it. If no one will pay for it, then it's worth the value of whatever you produce on the land. If you produce nothing and nobody will pay for it, then that property is worthless."
"Are you determined to insult me by taking me back to college?"
"You've been paying taxes on that house for ten years now, earning nothing from it and never getting closer to a sale than a price quote. Do you want to sell this house or are you planning on taking it with you when you die?"
For a moment Cindy thought the man might explode, he was so furious. She let him rail on about her rudeness and stupidity for about fifteen seconds. Then she set down the receiver on the cradle and took a drink from the Poland Spring bottle she kept at her desk. One minute. She glanced at the News and Record on her desk, flipped to the Word Jumble, worked it in about two minutes, and then picked up the phone and pushed the redial button.
"You hung up on me," he said.
"Was that you?" she said. "It sounded to me like a man who didn't want to sell his property. But why in the world would such a man be talking to a real estate agent?"
The man chuckled grimly. "Well, aren't you the clever one."
"Not really," said Cindy. "I'm the one who doesn't much care. I don't get a commission if you get angry at me and fire me as your agent. But then, I also don't get a commission if the property just sits there because the owner has a completely unrealistic view of its value."
"Well, what do you think the value is?"
"I think the value is whatever the buyer offers."
"Are you crazy? You're going to take the first offer?"
"Let's not get into the question of who is or isn't crazy," said Cindy. "Let's just be realistic about it. There hasn't even been an inquiry on this house in years. Every week you wait to sell it, the less value it has. For all I know, this man's only interest in it is to tear the house down and build something new on the lot."
"A beautiful old house like that? It would be a sin!"
"No worse than letting it die slowly, the way you're doing."
"All right, I'll tell you what. You drop the price as far as you want below eighty thousand. But for each thousand you drop the price, your commission drops by a percentage point."
"I have a better idea. My commission on this is a flat eight thousand dollars no matter what price the house goes for."
"What? Are you insane?"
"You keep asking me that," said Cindy. "But you're the one who decided to start changing the rules on commissions. So let's compromise and stick to the original agreement on my commission. What do you say?"
"It's a good thing I'm a gentleman, or I'd tell you right to your face what I think of you."
"When you get your check and you stop having to pay taxes on that empty house, then what you'll think of me is that I'm a damn good agent who finally did what no other agent has been able to do: get you free of that house. You may even realize that the main obstacle I had to overcome was a stubborn owner who has no idea what's going on in the real estate market in Greensboro."
"How do I know the buyer isn't you? How do I know you aren't knocking down the price yourself to cheat me?"
"I'll tell you how you know. Because when you start insulting me like that, I won't stick around to take it." And, once again, she hung up on him.
At the next desk, Ryan Bagatti grinned at her. "I can't wait to see the motivational tape that taught you that technique. Sean Penn and Zsa Zsa Gabor star in the video You Can Make Millions in Real Estate by Hanging Up on Clients!"
"Hey, I didn't slap him."
"I'm not sure but what he has a bruise from the way you talked to him."
Cindy tossed her hair nonchalantly. "What do I care about money and commissions? Poverty is good for the soul. Unemployment is capitalism's way of getting you to plant a garden."
Her phone buzzed. The receptionist told her who it was. She cheerfully stuck her tongue out at Ryan and picked up the receiver. "Hey," she said.
"Do whatever it takes but sell the damn house," said the owner.
"Commission as per our agreement?" said Cindy.
"Take the whole purchase price, just get it off my hands!"
"I'll do my best, sir."
"And don't you dare give me that 'sir' baloney. You are not a lady, young woman. I hope you realize that about yourself!"
"I do now, sir, and thank you for helping me make another leap forward in my quest for self-discovery."
"You just don't let up, do you?"
"It's my most endearing trait," said Cindy. "After it grows on you."
"I just better see results."
"Have a nice day."
This time the hanging up was peaceful, and she turned to grin at Ryan.
"You only got away with that because you're a woman," said Ryan.
"I only had to do it because I'm a woman," said Cindy. "If I'd been a man, he would have listened to my advice seriously without having to go through all the drama."