Case Studies

Barry knows that when it comes to complications you need a professional with experience and the ability to think steps ahead.

Seller Case Studies

When problems arise regarding escrow, lender issues, maintenance issues, and other problems, most brokers are not inclined to help you with them. Often you’re lucky if he or she even tells you about them. But Barry doesn’t think that way. In fact, the opposite is true. He knows that when it comes to the complications, problems, and strategy in most commercial real estate transactions, you need a professional with not only years of experience, but the ability to think four or five steps ahead of the opponent’s move or the current problem, much like a chess game. To anticipate problems, Barry works closely with every inspector, lawyer, accountant, exchange accommodator, title officer, and lender associated with your transaction, and keeps an eye on the details to protect your best interests.

Thwarting a Re-trade Where Barry represented the seller, the buyer was attempting to negotiate credits for deferred maintenance. The buyer submitted a request for $110,000 at the removal of contingencies. Being that Barry has been involved in a number of renovation projects, he quickly challenged this dollar amount and called a contact that specialized in the type of repair needed. Barry researched the materials needed for the repair and negotiated a labor only bid for the work. Barry produced a labor bid for $15,000 and a $9,000 material list for the seller’s review.

The seller gave Barry the go-ahead to prepare a counter proposal for a $24,000 credit. Barry thwarted the buyer’s efforts and the buyer ultimately accepted the $24,000. Creativity and strategy are essential for thriving in today’s economy. That’s why having a genuine dealmaster in your corner can make all the difference in the world.

Working Every Resource Barry had just put a deal together selling one of his client’s properties. A number of problems sprang up that potentially threatened the entire transaction. The buyer was threatening to pull out of the deal. Barry drafted a very diplomatic and sillfully composed letter that “nudged” the buyer without pushing him into a corner. All the while, Barry was working with the lender’s appraiser, arguing a higher value and lower operating expenses with the underwriter – something the buyer’s agent wasn’t accustomed to doing. As a result of Barry’s effort, the lender came up a little on the loan-to-value. As a result of the slightly higher loan and the letter Barry sent, the buyer removed loan contingencies. Barry had the problem solved before his client, the seller, returned home from vacation. There was no need to even disturb him with a phone call.

Buyer Case Study – 30 Simultaneous Offers

A client came to Barry with a buying request outside the realm of apartment properties in the Bay Area. He wanted to do a 1031 exchange out of an apartment building into a single tenant triple net property where the tenant had a Standard & Poor credit rating of “A” or better. The property needed to be constructed within the past six months and have a long-term lease (20-25 years).

Barry explored the marketplace and, using his network of contacts with thousands of brokers and hundreds of builders, he identified 300 properties that met the initial requirements. Using other criteria he discussed with his client, Barry narrowed the list first down to 50, and then to a group of 30 tightly defined properties that met all of the buyer’s specific requirements.

Then he did something that almost no other broker would do: he sent out 30 letters of intent simultaneously. Over the course of the next few weeks he negotiated heavily on price and other details and whittled down the list to three final prospects. These three properties represented the best pricing available in the entire United States at that given point in time. It was also worlds apart from what most brokers typically do, which is to simply find their client one property and then collect their fee. This is the type of “outside the box” thinking and strategy you can expect from Barry.