Key to Customer Service is Contact
Jack Butala: Key to Customer Service is Contact. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jack Butala: Jack Butala with Jill DeWit.
Jill DeWit: Hello.
Jack Butala: Welcome to our show. In this episode, Jill and I talk about the key to customer service is contact. Seems basic, but it's so true. Great show today, Jill. Before we get into it, let's take a question posted by one of our members on SuccessPlant.com, our free online community.
Jill DeWit: Okay. Aaron asked ... This is great. "I know Steve, aka Jack, is not a fan of negotiating price. The offers are the price."
Jack Butala: Where's this going to go?
Jill DeWit: This is good stuff. "The offers are the price. Send enough mail to qualify leads, and you'll get plenty at your price." Check, done. Perfect.
Jack Butala: I like it, check. Did they say that right in there?
Jill DeWit: No, I just added that. Would you let me finish the question, please?
Jack Butala: Sorry.
Jill DeWit: "In my county, that hasn't worked so far. At least at $500. Someone recently came to me." Hold on. "Saying they'd sell, but they're five acres for $5,000. Lower end comps suggest selling price of far more than $1,000 an acre. At least double, if not more. But this particular property's assessed value is $5500. I know assessed value is absolutely not market value."
Jack Butala: Yes, exactly!
Jill DeWit: "But has anyone had any issues selling property at significantly more than it's assessed value? I feel like that could be an issue when trying to sell to a buyer, them seeing an assessed value of approximately half of what they're paying. If I can't sell for more than the assessed value, and ideally at least double the assessed value, then I can't buy the property. Anyone have any experience selling for significantly more than assessed value?" Jack, take it away.
Jack Butala: Jill, what's the assessed value of your house?
Jill DeWit: A lot less than probably what it's worth.
Jack Butala: You don't know.
Jill DeWit: I don't know.
Jack Butala: No.
Jill DeWit: Well, I get the postcard in the mail.
Jack Butala: I don't know what it is.
Jill DeWit: Yeah.
Jack Butala: Our house, [crosstalk 00:01:54].
Jill DeWit: I don't remember. You know, I don't even look at the postcard anymore. Because you know why? Because it doesn't matter, it's not real.
Jack Butala: Nobody looks. Here's the answer to the question.
Jill DeWit: I know.
Jack Butala: And I asked her for a reason. No one knows the assessed value of anything. The assessed value, you're right. You nailed it in the beginning. Is Aaron a he or a she? Do you know Aaron?
Jill DeWit: It's a he. Yeah, we know him.
Jack Butala: Nobody knows, nobody looks at the assessed value and it has ... He's exactly right. Nothing to do with the value of the property. No one's going to say, "Aw, I'm not buying that property. It's only assessed at X." The assessed value changes, usually based on the change of ownership. If you've seen a property ... If you've ever seen the old lady at the end of the block who never renovated her house, and she's 92. Every house on the block is great looking, and she's just got the original house. Her assessed value is 1/10th probably, and her taxes are probably 1/10th of the other properties around her. Assessed value has nothing to do with price.
To answer you question, I have a tremendous amount of experience selling properties for way more than assessed value, and not once has it come up. Not once has a seller said, "You know, justify your price." A buyer, I mean. "Hey Jack, justify your price."
Jill DeWit: You know what's funny?
Jack Butala: Assessed value is $5.