Brokerblogger

Setting Realistic, Deliverable, and Measurable Expectations - Brokerblogger

Before you read this post, please keep in mind that one of the main reasons for this is that our reasonable expectations for our first year of Ryland Home ownership were not set or met properly by Ryland, our "seller".  See "My Last Ryland Homes Blog Post & My Attempt To Help Ryland Homes!" to get a better overview of our Ryland Home complaint to the BBB, and links to the over 100 Ryland Home problems that were all eventually fixed after 13 months of having much of our time wasted, and much unexpected stress.

If there is one thing that a "broker" or "intermediary" has to do well, it is making sure that buyer and seller expectations are set properly.

If you are on the buying end of a transaction, "Customer Satisfaction equals the Perceived Value the customer receives from the product or service minus the Cost to the customer for that product or service." according to D. Brown Management.  "Perceived" is the keyword, and "Setting Proper Expectations" is key to the evaluation of "Value Received".  The definition of the word "Perceived" says:  "to attain awareness or understanding of". 

So how do you attain "awareness & understanding"? It is done through Open, Honest, Upfront, and Good (O'HUG) Communication combined with empathy for the other party which is imperative in having all go smoothly.  Good communication, by the way, should be clear, conspicuous, comprehensive, and most importantly, completely comprehended!

If you are on the selling end of a transaction, you should get the same kind of good communication from the buyer on payment terms, as well as feedback on perceived value delivered and measured from buyer expectations.  Here is why:

Levitt Corporation's Seasons at Prince Creek West Clubhouse Plans - Brokerblogger

6/21/09 UPDATE:  Seasons Clubhouse had a grand opening on 6/20/09.  To see it, here is a map.

On 6/15/07 I was e-mailed by a Levitt Real Estate agent this information:  "..., please check the Sun News June 28 for press release re grand clubhouse Groundbreaking celebration."  I just did a search on the Sun News (MyrtleBeachOnline.com) and could not find the announcement.  But, that doesn't mean that it didn't run, or that the groundbreaking ceremonies didn't happen.  (See "Levitt's 'Seasons at Prince Creek West' Still Has No Clubhouse")

I hope the groundbreaking ceremonies did happen, but even if they did, it doesn't mean that the building will be finished and usable in 6 months (January, 2008).  I hope that it does happen, as the people who bought into that development early on were promised these "Amenities and Activities", and they are still waiting for them.

This Levitt news release of 1/23/06 says:  "Levitt Corporation Expands Homebuilding Into South Carolina; Subsidiary Levitt and Sons Opens its First Active-Adult Community in South Carolina, 'Seasons' at Prince Creek West."  So, it now is almost a year and a half later and still no Clubhouse, even though this photo of a street full of model homes (courtesy of "LivingChoices.com") shows a very similar street to where the Levitt "Prince Creek West" buyers are now living.

The image of the proposed Seasons at Prince Creek West Clubhouse in this blog post came from the official 1/23/06 "Levitt Corporation News Release" (the images appear to change from time to time, so the Clubhouse image may not show when you look).  The Clubhouse image sure looks nice, though, and I'd bet that the people who buy into this development will enjoy it.  I'd also bet that the Levitt Realtors that sell the properties really want to see the Clubhouse completed, too. 

So, I wish Levitt Corporation well, as it has a well documented and famous history.  Maybe, the information in this 7/12/07 BFC Financial Corporation Press Release will help.  It says:  "BFC Financial
Corporation (NYSE: BFF) ("BFC" or "the Company"), announced today that it sold 10,000,000 shares of its Class A Common Stock at a price of $3.40 per share for settlement on July 17, 2007. The shares sold by the Company are expected to raise net proceeds of approximately $32 million after underwriting discounts and commissions."  It goes on to say:  "The Company intends to use the proceeds of the offering to support Levitt Corporation either as a result of the proposed merger with Levitt or, if the merger is not consummated, in connection with Levitt's previously-announced intention to pursue a rights offering and for general corporate purposes."