Persistence Pays Off: Turning a Cold Call Into a Closed Deal

Challenge

Navigating a transaction in a soft local retail market posed multiple challenges for the Matthews™ agents. The property, a 4,400 SF dental center, was located in a submarket lacking retail density, with limited comparable sales to benchmark pricing. Complicating matters, the asset had previously been listed with a different group at a higher price, necessitating a candid discussion with the seller about realistic valuation metrics including price per square foot and achievable cap rate.

 

Additionally, the listing initially went under contract but fell through, requiring renewed momentum to re-engage the market. The seller—a local dentist seeking retirement— was motivated to sell quickly in order to exchange into a larger retail center. Despite market headwinds and prior listing fatigue, the agents needed to craft a compelling strategy to achieve a competitive outcome.

 

Strategy

The agents employed a relentless, proactive approach to breathe new life into the deal. Leveraging Matthews™’ database and marketing tools, they launched a consistent and targeted email blast campaign to maximize visibility. Cold calling efforts continued persistently, helping to regenerate buyer interest even after the initial deal had dissolved.

 

They cultivated buyer competition by carefully vetting inquiries and crafting strategic LOI language that protected seller interests while encouraging strong offers. This disciplined process allowed them to quickly secure a second contract and drive the sales price upward. Rather than allow prior setbacks to dampen momentum, the agents transformed them into an opportunity to build urgency in the market.

 

Results

The renewed efforts paid off. The deal closed with an all-cash buyer at a strong price per square foot, considering current market conditions. No retrades occurred, and the escrow period was smooth and efficient, delivering on the seller’s goals of speed and certainty. The results exceeded expectations given the soft market environment and prior listing history.

 

Thanks to their resourcefulness, persistence, and strategic execution, Daniel Nunez and Josh Longoria not only closed the deal successfully but also established trust and momentum to support the seller’s upcoming upleg transaction.