These Land Agents Are Not Taking Me Seriously?
I am now dealing with my second land agent... just as sketchy as the first.
First I called him and 2 days to return my call. Then he gives me a little more info about the property and requested a contrct/letter of intent. Then, when inspecting the property for the third time... I have a spontaneous meeting with the lady that owns and lives adjacent to the lots....
We both had funny looks on our faces when we learned that I had not been given the ELEVEN ADDENDA that are part of the sale contract for the lots. I didnt want to trash-talk anyone, so I told the owner that the agent is probably getting it to me (yeah right).
I have plans/builder/RE Legal firm, and about 1 million ready to go, just need the contract.
How can I approach these agents better? I am very interpersonal and friendly... I now think that the owner/agent are just fishing... just trying to see what they can get with no intent to sell.
Maybe the agent is sick of rejecting terrible lowball offers and thinks I am another? See my other post called Lot changed?!
I guess I need tips for approaching land agents who don't normally sell land (the ones I have dealt with) and/or ones that do.[ Edited by Cliffrock on Date 03/28/2004 ]
Is the Agent, the owner?
Lance
No, they are neighbors in this fancy neighborhood. He's handling it as a "favor".
However, the agent is having some medical issues. He called me today (Sunday morning) to tell me what he's doing. (as though he read this post!). I think the owner is VERY particular, she is requesting addresses of homes my builder has built etc etc...
Maybe I did have a positive impact on the agent, he seems to be taking me more seriously now. He said he would get back to me Mon evening or Wed evening. HE gave me more about what the seller wants in the contract, so thats good.
I guess my own code of professionalism is all I can do!
If you're dealing with an agent who is not land experienced, then that person probably doesn't even know what it is that they don't know but should know if they're marketing land. On top of that, it sounds like the owner (because she lives adjacent to the lots for sale) may have some notion of imposing building restrictions/restrictive covenants.
I would ask for copies of the "11 addenda" and also the form of contract if the owner is proposing a particular form. In addition, I would request a face to face meeting with the owner with the agent present so that you can have the opportunity to ask the owner specific questions about the property. You could assure the seller's agent that that is the sole purpose of the meeting--to facilitate communications and get info, not to do an end run around the agent. When buyers were brought to my land listings by agents who were clueless about land, I've often suggested a meeting between their buyer and me (with buyer's agent in attendance). There's no resistance on agents' part since I was in essence taking the pressure off them and also I wasn't trying to cut them out of the deal.
I can think of no worse situation. The owner lives adjacent and wants all new construction to emulate that which she thinks is perfect. To wit. Her house.
On top of which you really have a very inexperienced unqualified Broker who is "doing a favor". Now those are two really difficult hurdles.
Of course the next step is to research the land and obligations recorded against them also check the CCand O's with a fine tooth. Check for any existing financial pressures, due dates on mortgages, missed payments. credit statements. etc.
Then as Nancy says, you have the big meeting with all present. It is on this occasion that you attempt to educate the landowner. You show pictures of prior projects, you flash the ever present financial statement and you come across as really knowing the trade, land costs and all the minutae of development.
With luck you build up a little repour and the communications cut in and perhaps sometime in the near future you lunch or breakfast and the meetings become productive.
A bit frustrating but as in all relationships it just takes a little time.
Lucius
WHEW! I thought this was typical.
Nancy and Lufos, this situation seemed difficult and unusual, glad to have the feedback. I am emailing the mayor to arrange a sitdown (he reportedly had one with another person about these lots)(this sounds like a soap opera), I will definitely need to set one up with the agent and owner, great idea!
I have to comprehend what they want and what they know, then do my best to facilitate. The Mayor should be a big help, he's been through this before.
Thanks a ton, my confidence is up.
I will update in a few days...
Cliffrock,
When dealing with consumers and agents not educated in the exigencies of the land business, take several deep breaths and try not to laugh--particularly at the ones who claim they know what they're doing.
As Lucius might say...
we will be anxiously awaiting your update. Good luck.