REAL ESTATE ADVISORY GROUP
Advisor Admission Requirements
Owned at least 3 Outer Banks properties
Actively involved in Outer Banks Real Estate
Related professional expertise (Attorney, Appraiser, Investor, Broker, Builder)
Advisory Member Overview
Profile : Gary Woodson
Degree : Accounting
NC License(s): NC General Contractor (Commercial & Residential) & NC Real Estate Broker
Previously licensed as Banker
Gary and his wife Becky, also a broker, build 3 to 4 homes a year on the Outer Banks. Their primary business is representing OBHOA owners in real estate transactions. Many of their client relationships begin when members seek in-depth information as prospective buyers, or considering selling.
Members using OBHOA Real Estate Advisory Group typically desire more details. Market information, construction specifications, and local area particulars. OBHOA members are not typically OBX local fulltime. Whether buying or selling; there are thousands of dollars gained during marketing and negotiation by whoever has the upper-hand on most recent closed and pending real estate sales.
Recently, Gary turned down a beach lot offered to him. He recognized the lot would bring more on the open market. Buying at the price offered would be taking advantage of the situation. Instead he offered to sell it for the owner. Three weeks later, the owner was staggered by an offer 42% more than he had expected to sell.
Gary explained, it was a unique situation. “I suspected there was a group of 4 or 5 spec builders looking at that time for a lot in the area. This lot had been passed over recently because there had been plentiful better lots, but now all were sold.” The suspicion proved accurate with four offers during the first week. Next, the most common way to handle multiple offers is to “bid-up” the buyers by declaring that “highest and best” gets it. Gary explained that option to the owner but advised against it. Sometimes the technique is very effective, but sometimes not.
The reward for doing the right thing also pays off. Gary did not know the lot owner before this, but anticipates the affect will last. People talk about it. OBHOA Real Estate Advisory Group fills a unique demand. The group caters to clients with a focus on long term relationships. As a whole the group believes it is more important to provide quality expertise, than focus on a quick dollar.