Why Are You Skeptic To Purchase Property In Detroit? – Jessica Toomer
On this episode of The Closing Table, we sat down with Jessica Toomer!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Jessica Toomer…
The conversation began with a fill-in-the-blank icebreaker on the key to longevity as a realtor, how the industry will be in ten years, and more. Jessica then provides a glimpse into her life beyond real estate. She proudly identifies herself as a wife, a mother of three, a grandmother of one, and someone who truly appreciates the essence of life. She loves traveling, sports, and just making the most of what life has to offer.
Born and raised in Detroit, Jessica holds a deep connection to her community and actively advocates for its betterment. She extends her services across a wide area, encompassing Wayne, Oakland, and Macomb. Despite the negative reputation often associated with Detroit, Jessica highlights its inherent beauty as a community enriched with a wealth of history, culture, and irreplaceable craftsmanship.
When asked about an experience where she successfully transformed a skeptical or hesitant buyer or seller into a satisfied client, Jessica reflects on her interactions with out-of-state investors. Many of them initially expressed fear and hesitation when considering investments in Michigan. However, Jessica reassured them by emphasizing that such concerns could arise in any location. She emphasized the importance of finding the right property in the right community and offering a quality product. By instilling trust and highlighting the potential rewards of putting in the necessary work, Jessica was able to turn their skepticism into satisfaction.
Jessica also acknowledges that being a realtor requires wearing various hats, and she often encounters challenging situations, particularly in divorce cases. She shares an example where one party in a divorce situation refused to allow the property to be shown, hindering the selling process. To resolve this, Jessica had a frank discussion with both clients, emphasizing that holding onto the property was impeding their ability to move forward. In her experience, 99.9% of such discussions yield positive outcomes, showcasing her ability to handle difficult clients while maintaining professionalism and ensuring a positive resolution.
Jessica then explains that there are instances when selling a client’s home takes longer than expected, and often, the property’s condition plays a significant role. Despite efforts to overcome hurdles, certain conditions may still prove challenging. However, Jessica firmly believes that there is a buyer for every property and emphasizes the importance of presentation. While the seller may not achieve their desired outcome, proper presentation can significantly impact the selling timeline.
Reflecting on her early years in real estate spanning 32 years, Jessica recalls a definite mistake she made. During a period when interest rates were in double digits, land contracts, and similar arrangements were prevalent. In one particular instance, Jessica encountered difficulties when the seller refused to address the necessary repairs required for an FHA loan. Despite signing a disclosure stating non-responsibility, the transaction fell through as the seller changed their mind. Jessica ultimately reimbursed the buyer half of their investment. Although challenging, this experience taught her valuable lessons. Moreover, the buyer became a repeat customer and a source of multiple referrals, illustrating the rewarding nature of handling and learning from mistakes.
Following that, Jessica highlights that Detroit was one of the first cities to enter a recession and one of the last to recover. The city is still making slow progress. In the past, appraisers undervalued Detroit properties compared to other areas in Michigan. Jessica was part of a committee that fought against these undervaluations, which eventually led to property values skyrocketing. However, the market later experienced a downturn due to predatory lending practices. Currently, Detroit is still progressing at a slow pace compared to outer communities, but the demand for properties remains strong. Downtown Detroit is thriving, and the surrounding areas are also experiencing revitalization, with many people recognizing the value of the unique architecture and moving into the inner city.
Jessica also shares the numerous rewarding relationships she has built with clients throughout their real estate journeys. These relationships go beyond transactions, as they have traveled together and celebrated various events. Clients have become like family to Jessica, and she feels honored to be a part of their lives.
The conversation wraps up with Jessica sharing the benefits gained in her career as an active member of the board of directors and various committees. Currently, she serves on the professional standards committee for the greater association of realtors. In the past, she has been involved in the ethics committee and nominating committee. Being part of these committees ensures that realtors are treating the general public and their peers fairly and in accordance with professional standards, laws, and regulations. If needed, Jessica sits on the professional standards committee as a panel member for hearings. Engaging in these committees not only polices the industry but also provides continuous education and serves as a refreshing reminder of the standards and practices she should adhere to, despite her 32 years of experience in the business.
Check out Jessica Toomer:
Facebook: https://www.facebook.com/jessica.toomer.56
Facebook Business Page: https://www.facebook.com/JessicaToomerCentury21
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