Episode Details

In this episode, Leigh's guest, Gary Balanoff talks about the importance of managing the relationship between developers and agent—Gary will also share his crazy story about the time an indecisive couple asked him to see more than 80 homes, before making a decision that would cost him his commission and a little bit of his sanity.

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Time Stamped Show Notes:

• 00:39 – Leigh welcomes Gary Balanoff
• 00:52 – Gary has been in real estate for 33 years
• • 01:10 – Gary worked as a broker for 18 years, and has lasted this long because he enjoys the process of working with buyers and sellers
• 04:06 – A pastor was moving to town and needed a place in one area but the availability wasn't great
• • 04:20 – They looked at more than 40 homes but there was always something wrong with each place
• 04:38 – After looking at all the homes, the pastor eventually decided to call it quits—they decided to rent so Gary set them up with the rental manager. However, Gary kept looking
• • 05:02 – After 6 months, they resumed looking, and considered another 40 homes—more than 80 total now!—but again, told Gary there was just something missing in each home
  • 5:26 – Gary said those were the only ones that fit in their price range and they decided to rent for another year
• 06:11 – Two months later, Gary closed a deal with a young couple and was welcoming them to the community when he asked if they had met their neighbors—they said YES, and dropped the pastor's name!
• • 06:48 – Three months before that, Gary had shown them that particular home
  • 07:04– Gary went to the model center and asked why he did not receive his commission
  • 07:28 – He was told that the couple signed the contract 40 days after they signed the 30-day registration period
  • 07:51 – As a new home builder, they need the cooperation of agents
  • 08:20 – Two months after that, the company declared bankruptcy and the builder went out of business
• 09:02 – Leigh says buyers and builders do not understand what value a realtor brings when they are buying – they serve as a 3rd set of eyes and ask the questions others may not think to ask
• 10:01 – Gary had a chance to work again with the young couple
• • 10:40 – They spotted a new development and told the agent they were working with Gary and the agent called him
  • 11:01 – Gary was present for the actual contract writing to make sure they got everything they were really looking for—he also helped them with the move-in process and Gary got an extra bonus on top of his regular commission
  • 12:01 – The builder was kind enough to recognize that Gary was working with them and put him on the contract
• 12:15 – The bottom line is to be proactive in your relationships with all people
• 12:37 – Leigh says the main task of an agent is to make sure the clients is protected, that they have quality construction and a good location