Case study
How I won my client more than $110,000 off the asking price. After nearly four hours of back-and-forth negotiation, we bought for $1.61 million — $118,800 (about 6.87%) below the $1,728,800 list price — and the seller also agreed to replace the air conditioner with a unit meeting the standard both sides agreed on.
Read the full story →On offer day the seller had all but decided to accept a conditional $715,000 offer, but the buyer walked away at the last minute. A few days later, Ming helped them sell for $720,000 with a firm offer.
Read the full story →When you buy or sell a home, which words are most persuasive?
“I can sell your home for more.”
“This one is worth buying — you’re sure to make money in a few years.”
“Don’t worry, there’s nothing wrong with this house.”
Each of these speaks straight to what buyers and sellers want. Sellers hope to get a bit more, buyers hope for a good deal, investors hope their assets grow. These hopes are completely normal — and they are also the easiest opening for someone trying to persuade you.
Over my years in real estate I have come across some regrettable cases. Looking back, many of the losses did not happen suddenly at the moment of signing. They began with an unverified promise, a calculation that was skipped, or a question nobody followed up on.
The four stories below are worth reading for anyone getting ready to buy or sell.
After a high-price promise. When sellers hear a high estimate, they often take it as a sign that the agent is more confident and more capable. In reality, a high estimate can simply be the easiest way to win a listing.
Read the full story →Every time, “it’s worth buying” — but who adds up the final bill? An acquaintance who once sold me a car called later, saying he wanted to sell a house and asking to talk. Only when we met did I learn he already owned five properties.
Read the full story →She bought a house for $1.08 million, then found that the lender’s appraisal came in at just over $910,000. The gap between the two numbers was well over $100,000.
Read the full story →One February, a woman called. She had seen my SOLD sign nearby and wanted me to sell her house in Scarborough. Describing the agent who had helped her buy it, she said: “He’s my co-worker’s son — very honest, doesn’t say much, very down-to-earth.”
Read the full story →On the surface, these four stories are all different.
One seller signed a listing because of a high-price promise; one buyer kept buying, property after property, encouraged by talk of ever-rising prices; one buyer faced an appraisal gap only after signing; and one only learned the house’s history after moving in.
Behind each of them are questions that should have been answered much earlier.
Why is the price this number?
Is there enough money?
Where are the risks?
What hasn’t been checked yet?
When choosing an agent, it is of course fair to look at their sales experience, how they work and how they communicate. But what is more worth watching is this: when the facts don’t match your hopes, what do they say and what do they do?
Are they willing to bring out the data and explain?
Are they willing to admit they don’t know yet, and keep checking?
When you are excited and ready to raise your offer, will they remind you to look at your budget?
When a house looks beautiful, will they still carefully check the small things that don’t look right?
The value of professional service often shows in moments like these.
Selling higher and buying smarter is what everyone wants. Giving that wish a basis in reality — and making sure clients know what they are taking on — is just as much part of an agent’s job.
Next time you hear something that really excites you, try asking one more question first:
“What is that judgement based on?”
And then one more:
“If things don’t go as expected, what do we do?”
Those two questions may be enough to show whether there is solid work behind the nice words.
— Ming
You are welcome to add Ming on WeChat to talk through real questions about buying a home or investing in property. May every important decision come with enough information, clear numbers, and reasons that hold up to questions.
