1. July 23, 2014
Grant P. Harpold
Vincent Lopez Serafino Jenevein, P.C.

2. Off-MLS or “Pocket” Listing
Survey - No Option
Electronic Communication
Conduct
Appraisal ≠Market Value
Lingering Lawsuits From Afar
Educate

3. Market – Driven
Educate agent
◦ Price risk
Fiduciary
Educate seller
◦ Lost opportunity
Uneducated buyer
◦ Why not on MLS
◦ Property not vetted
Seller Authorization Form
◦ Protection

4. Keep Simple/Timely
◦ Box (2) or (3)
Timely Objection
◦ Pick number of days
Old Survey is Risky
◦ Risk shift with your involvement
◦ “Existing survey”

5. Section 6, P. 2.

6. Confirm Material Communications
◦ Description of document or event
Not for Expression of Emotions
◦ Post or Tweet with caution
Personal v. Business
◦ Business wins
Can Form Contract
◦ “Submit an offer”
Electronic Signatures and Documents are
Enforceable

7. From: Broker A
Sent: Tuesday, October 30, 2007 4:32 PM
To: Buyer
Subject: Property XYZ
Importance: High
Buyer, I was able to confirm with the sellers that they will agree to a 2 year option
at $2.75 s.f. on the 3.78 acre tract. As-is. This is subject to you closing on the
35 acre tract tomorrow.
In addition, they are prepared to lease the 35 acre tract for that same period for
$300 per month plus they will carry necessary insurance.
Buyer, in my professional opinion, the sellers just put over $200,000 on the table
that is available to you today should you decide to flip the property. They
perceive this to be a big concession.
The sellers were planning to list the property with me and I was attaching a $5.00
s.f. asking price hoping to achieve $4.00 s.f.
Broker A

8. From: Broker A
Sent: Wednesday, October 31, 2007 9:56 AM
To: Buyer
Subject: Property XYZ
Importance: High
Good Morning Buyer:
Contrary to your instructions to the Title Company to revise the paperwork to reflect a $125,000 price
reduction (which had not even been presented to the sellers for consideration), throughout the late
afternoon and early evening my client’s [sic] debated and considered the totality of the deal on the
table. They have decided they will not revise the price from the agreed $2.50 s.f. number.
Each of them will be traveling to the title company later this morning to sign necessary documentation
for the closing to take place today. The title rep. can e-mail you documentation for your signature
today. Sufficient funds will need to be wired today.
We can work immediately thereafter to prepare the necessary material to reflect the agreement reached
in principal [sic] yesterday concerning the 2 year option on the 3.7+/acre stable property at $2.75 s.f.
plus the 2 year lease on the 34.59 acre property at $300 per month, including necessary insurance
protection.
If the closing does not take place today then the original contract remains in effect should you choose
to keep it in effect.
*3 It would be helpful to have an understanding as to your intentions today. One more of the sellers
will be leaving town tomorrow and won’t be available for the next week.
Broker A

9. From: The Sellers
Sent: Wednesday, October 31, 2007 2:35 PM
To: Broker A
Subject: Property XYZ
Importance: High
Hi Broker A,
I wanted to let you know that we are working on getting the following agreements
ready for the buyer’s review.
The first will be the Lease Agreement for the 34.59 acres. The Term is to be a
twenty-four (24) month period at the rate of $300.00 per month.
The second will be the twenty-four (24) month option to purchase the 3.78 acre
tract of ours at $2.75 p.s.f.
We will keep you posted on the progress of both items and please pass along to
the buyer that we wish to get these executed as soon as possible.
Thanks,
The Sellers

10. Discuss Known Facts
◦ If You Know, You Tell
Information Sells Home
Source It; Don’t Diagnose It
◦ Form TAR 2502 – gives notice
Timely Communication
Don’t Get Title Lazy

11. Multiple Offers – can be picky
Cash Talks – no contingency
Property does not satisfy lender requirements

12. Virginia – unlicensed employee cost broker
$6.6 million commission
Maryland – class action for kickbacks from
title company to broker

13. Inform Your Client
Make Sure They Know
Get Them There
What’s NOT Online
Partial Observer
Sensitivity
Expertise
◦ List Price
◦ Photo Selection
◦ Title Company Preference