(summary:)
The client is a family trust, who previously had a negative experience with another broker who prioritized his own gains over the client’s needs.
The frustrated client walked into the Ivy Group’s office, left a personal sticky note for Tim Vi Tran, starting a long-term and still on-going relationship with the Ivy Group based on trust, transparency and honest communication.
This family trust owns multiple properties throughout the Bay Area. The Ivy Group has succeeded in selling two commercial properties for them so far: the first was in Newark, CA, the second in Santa Clara, CA. The same family will hire the Ivy Group again in the future for all their commercial real estate needs.
The moral of this story: Prioritizing clients’ interest over and above an agent’s own gains earns trust and builds long term relationships. The client first approach will win deals, trust, and loyalty.
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In the last case study, we described how the Ivy Group recently helped a family trust with the sale of one of their commercial properties at an optimal, highest price. This case study highlights the second time the family trust retained the Ivy Group for the sale of their portfolio properties.
In this case study, we share the remarkably serendipitous story of how this client found us in the first place.
Before they found and hired us, the family had hired a commercial real estate agent. After a long time, that agent was unsuccessful in selling their commercial building in Newark near Fremont, CA.
During the listing period with the other commercial real estate agent, one of the Ivy Group’s agents submitted an offer on that building. The family found out that the listing agent did not timely present our offer. The family learned about our offer much later. The family subsequently learned that the agent was trying to double end the deal with dual representation of both the seller and the buyer. The agent did not submit to the family the offers from the other agents, but only submitted offers from his own buyers (while it is legally permissible to be a dual agent in California, it is a blatant violation of California Department of Real Estate code of ethics to purposely withhold offers with the intention of representing both parties for personal gain). In essence, the agent was prioritizing his own agenda to the detriment of the client, in order to maximize that agent’s commissions.
Frustrated that the agent was withholding important information to prevent the sale from moving forward, the family trust’s representative, Pamela, decided to replace the dishonest, double-dealing broker. “She walked into my office. I was out in the field servicing clients. I had never met Pamela before and had no idea who she was. She left me a yellow sticky note that reads: ‘I have a buyer for a property you sent a letter of intent but my broker let it go. I would like to talk to you about the property & the buyer.’ I thought it was a joke. In today’s digital age, who shows up unannounced at an office and leaves a note? I called Pamela anyway, and she explained the situation to me. She said, ‘This broker Steven was dishonest. I found out there were multiple offers, but he never submitted them to me. I never saw those offers. I’m looking for an honest broker who knows the market and is going to be transparent with me.’”
“And I told her, ‘I’m the one.’ I literally said, ‘I’m the one for you, and I’m glad that you stopped by my office.’ I shared with her our client first philosophy, which is to prioritize her interest over and above our own. She pulled the listing from the other broker, and we took over,” Tim recalled.
“Within one month of marketing, we received and presented all 6 offers. We eventually sold the building (a restaurant property) to an all cash buyer. Pamela was very happy with our service. And then she said: ‘Tim, you know, my family owns other properties. When it’s time to sell, we’re going to come to you and hopefully get a chance to work with you again.’”
Several years later, Pamela kept her promise. We just sold a commercial property in Santa Clara, CA (learn more about the sale of the Santa Clara property) that her deceased father had wished to donate to charity. She highly recommended the Ivy Group to the experts who specialized in gifting real estate. They interviewed us and hired us on the spot.
From over 25 years experience in all types of commercial real estate transactions, Tim has learned from serving his clients tax ramifications related to the timing of sales.
“I’m not a CPA or a tax attorney, but I have learned a lot from my clients and I share my knowledge and insights about getting a tax-advantaged step up basis when selling an inherited property. This is significant in terms of the tax implications.
“Through the years, I would advise Pamela, how to bypass or minimize these taxes on the gains when selling. We talked about 1031 Exchange, we talked about all the different selling and tax scenarios. Eventually we came to the conclusion that we’re just going to wait for a property to become an inherited property in a couple of years when her aging mother passes away. That way the family trust gets about a $20 MM – $24.5 MM step up in basis, versus paying the taxes on the gains immediately if sold now”, said Tim.
“Even though my role as an agent seems as simple as selling a building, sometimes it is more complex and dynamic. You gotta look beyond just trying to market a property, but to understand the overall big picture: What are the consequences when you sell? What’s your reason? What’s your motivation?
“It is more than just slapping a sign on the property to get a buyer. It’s trying to think outside the box and anticipate all relevant issues the best you can. Most brokers don’t have any knowledge about the tax consequences, tax shelters, and tax basis. They just sell to collect a commission. That’s it. “
“Above and beyond – that’s how we serve our clients: to give a comprehensive view, from different perspectives and angles. That’s how people know you are a top broker.”
“I didn’t start that way. I learned as I went along, and my clients are my best teachers. I learned from my clients. Through the years, I accumulated all these real world experiences. I’m able to apply them to each client’s needs,” said Tim.
Looking back from when Pamela first walked into the office of the Ivy Group and left a yellow sticky note, Tim said: “It was never an accident that this family chose to trust us. The reason why they gave us the listing was that they liked our client first approach. That established our reputation, as well as a proven track record. Through building relationships upon trust, and delivering results above and beyond, we developed our track record.”
The Ivy Group’s client first philosophy and their above and beyond approach have resulted in long lasting relationships and client loyalty. “Always serve what is in the best interest of the client”, concluded Tim.
When you need to sell, buy, or lease a commercial property, the Ivy Group is ready to help you reach your goals with more than 100 years of combined experience and expertise in real estate, investment, technology and engineering. Contact us with your next real estate needs.
Copyright ©️ 2025 by Tim Vi Tran, SIOR, CCIM. All rights reserved.
