Hamid Hakimi Guest Speaker 2014 Florida Association of Realtors Convention
As one of the only four Realtors in the State of Florida Hamid Hakimi was invited to be a guest speaker in 2014 Florida Association of Realtors Convention and share his experience with other Realtors. The topic of the speech was “My Best and Worst Deal” as a Realtor.
My Best and Worst Real Estate Deals
One of the educational events in the Realtors conventions is inviting the experienced Realtors to share their knowledge with their colleagues. Last year’s Florida Association of Realtors’ annual convention followed this tradition by inviting four Brokers and Realtors from across the state to share their vast experience with the audience of fellow real estate professionals. In 2014 convention the subject of the discussion was “My Best and Worst Deals”.
While the audiences were expecting boasting about the financial rewards of a transaction, they found Hamid’s Idea of the best deal nothing short of a surprise. Hamid told them of a day that a young couple with three children went to his office looking to buy a home in Broward County. Hamid was in charge of the armed forces relocation division for his office in Coldwell Banker and the husband was in the armed forces, being transferred from Texas.
With their Prequalification Letter for $300,000 mortgage on hand it took near a month during the real estate boom to finally find a house. While writing the offer in his office, Hamid found out that the couple was a victim of predatory lending. The mortgage broker had offered them a very low monthly payment without disclosing the loan was a Negative Amortization, Adjustable Rate Mortgage (ARM) and their payments will almost triple in a year or so. While this was workable, Hamid could have easily tried to sell them the house, to the couple’s surprise, he refused to write an offer and be a part of the predatory lending.
Although Hamid explained the pitfalls of these type of mortgages and the increased risk of not being able to pay the much higher monthly payments, the young couple who had finally found their dream home insisted in proceeding with the offer. To their dismay Hamid would not budge, and insisted on helping the couple to either buy a small condo for a much lower price or rent. After a few sessions of going and back and forth with the couple insisting on buying the home, they ended up finally leaving Hamid’s office very upset.
Over a month after the Broker in his office shared a very heartwarming letter that she had received from some clients. To Hamid’s surprise it was a letter of gratitude from the young couple who wrote to the broker about their experience with a Realtor who put their benefit before his. For Hamid this was another day at the office as this is how he works every day, understanding that he is working with people that trusted him with the largest investment of their life.