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Monday, October 3,2011

Ask Gabe

Q: What solutions are there to selling my property without price-cutting and financial suicide? 

A: Before I discuss the solutions, let’s get familiar with the lingo of creative real estate.

TRADE: This term is applied to most transactions of unlike items, trading a boat for an item of need or value. A like-trade is between the same kind of goods or items, real estate for real estate.

Direct Exchanges: These are the most difficult to perform, house for a house. This is only a problem when there are no other participants. It becomes more exciting by expanding the number of participants to create more choices and a better chance to trade. Trading could be as simple as trading in your old car for a new one, it is all in the negotiation.

In the 1970’s and early 80’s, times were indeed hard for us in the Real Estate business; possibly worse than the present time. Certainly things are different now, but the motivation people had to dispose of property was overwhelming then, as now. In the 70’s, Real Estate Exchange sessions were being held all over the country. Our local Broward Real Estate Exchangers sometimes had more transactions and usually more dollar value than the local Ft. Lauderdale Multiple Listing Services.

Jim A. Wolf, Creative Real Estate Investor, Developer and Entrepreneur, continues to promote effective exchanges between owners and their like or unlike properties in his regularly held Exchange Club for members and invitees. He is “hands on” and appreciates the direct contact between principals and claims many real estate sales fail when offers are only submitted online or by fax and not in a face-to-face situation. When an offer is made without the personal touch, the answer is usually yes or no, but there could be thousands of alternatives. When no one is available to explain these options then only the very few options leading to a successful closing are considered.

Jim brings his successful business methods to encourage participants to think on their feet and can call themselves creative and adds some old tricks to selling or buying by giving them a new dimension that is possible in exchanging.

In the last edition of Happy Herald we opened the doors for sellers who had, viable properties and the intention to exchange them for more useful properties or just sell them outright, call us. Happy Herald marketed these properties for exchange and the results have surpassed our imagination. As a result, we are proud to have millions of dollars of luxury properties participating in exchanges. Our readers responded with a flurry of interest keeping our phones busy with activity and questions on how they can participate. We have attracted international attention from as far away as Greece and neighbors in the  Caribbean.

If you are interested in how you can benefit from exchanges, there is a lot to learn and a lot of money to save if you apply the knowledge and learn how to save on capital gains. We invite professionals, accountants, attorneys and naturally real estate professionals that are eager to learn to join us in the discussions.

The current Multiple Listing Service, as sophisticated as it may be, often suggests the only solution: to sell the property and get it sold is to reduce the price. Jim says, “There is a better way.” He invites anyone who has never traded before to an evening of fun to explore with him and his group of experts, the ins and outs of the world of trading.

Be sure to contact us to find out how you can participate effectively and affordably in the programs we offer to advertise your property for Sale or Exchange. Jim Wolf has agreed to contribute his time and expertise to our readers in the area of exchanges. He will present his seminars by invitation only. To find out how to become an invitee contact me at the Happy Herald headquarters at (561) 394-7466.

 

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