This post could have easily been entitled The Art of the Deal. But in actuality it’s a bit more specific than that. Since this is the time of year where the most real estate transactions take place, it’s also the time of year when the most come unglued. It’s very frustrating for seller, buyer and realtor alike.
The Solution
There is no fool proof solution to the challenge. Some deals just aren’t going to happen despite your brilliant efforts. There are, however, steps that you can take to improve upon your chances of creating viable solutions to a variety of stumbling blocks.
An Emotional Dawning
It begins by understanding the scope of the emotions that sellers, and particularly buyers, experience. The building inspection probably affects the transactions stability more than any other single event. This is the day that the buyer begins to spend money on what they hope to be their new home. This is the day when they become fully aware that they are actually purchasing this specific house.
Some suggestions for Realtors:
- Recommend home inspectors that you are comfortable with, those who are thorough with good “bedside” manner.
- Schedule the building inspection as quickly as possible. It’s not in anyone’s best interest to have the anxiety of an inspection lingering over the buyer’s head.
- If you are the buyer’s agent, make sure you are present.
- Take copious notes of the inspector’s comments.
- Advise your clients of the important inspection issues from your vantage point. Guide but don’t dictate.
- Speak with your clients daily. As written above, this is a very emotional time for them and they need your support.
Speaking with your clients regularly also provides you with the opportunity to allay many of their concerns; especially those that are based on fear or erroneous information.
Often the deal that doesn’t happen is the best opportunity that the buyer or seller will have. The more skilled you become at holding it together, the more value you’ll provide your client.
What are some other affective ways in which to consumate a deal?
What are some definite dont’s?
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