Jim Valentine on Real Estate
From start to finish there are a lot of components to a residential real estate transaction. At every step things can happen that change your position and eliminate any perceived leverage you might have had.
You might even find yourself needing cooperation or concessions from the other side of the transaction to make things work. If you’ve been rude, angry or nasty along the way your chances of getting favorable cooperation are greatly diminished.
It is amazing how often people enter into a transaction with an attitude. This includes agents, we should probably say especially agents. We often wonder what they think they are accomplishing by expressing their candid negative thoughts, especially when most of the time they are baseless.
Founded on ignorance, such comments don’t serve the customers of those agents well. It is not uncommon to discover in such situations that they are more interested in serving themselves.
Situations that we are alluding to often include agents speculating about ulterior motives. How silly can that be. Let’s see, a buyer’s agent represents … the buyer. The listing agent represents … the seller.
When representing both … well, there should be no hard feelings in that case. Both sides want to be kept safe, have their money or asset protected, and work toward the common goal of the close of escrow.
There may be some gamesmanship involved in protecting your “hand,” what you will actually do when you are doing the initial negotiation to achieve a meeting of the minds, but for the most part candor goes much further when you are engaged in the escrow process.
You may find the need to change the date for the close of escrow, or you have a family emergency and can’t make a deadline, or … there are many things that can go awry during a real estate transaction.
The role of the agent is to solve problems as they arise, and certainly they will. If it was easy, you wouldn’t need an agent. If the approach to resolution is venomous then you might find yourself without a position in the transaction.
Don’t let your agent ruin it for you by not cooperating, or creating a rift where none was necessary. You can play nice and demand that your agent does as well. Nobody wants to be around grouchy people looking for advantage all the time.
We put way more transactions together by working with the other agent for reasonable solutions to our differences than we do exchanging insults. We won’t engage in the latter. Good professionals work together to solve problems for the benefit of all.
Everybody wins in a solid transaction. Even with the occasional concession that might be required to make things work, be sure to view everything from an overall perspective. How does the one detail fit into the whole of the transaction?
Most of the time it can be absorbed without much concern, or a quid pro quo exchange can be achieved so both give and take. Remember the end game that you seek, the successful and safe, close of escrow. Whether you concede in time or money, is it worth it to play nice and adjust?
Cooperation and candor will carry you a long way. Professional agents will work with the other agent to discuss wants and needs of both parties. It isn’t always about the price, but sometimes it is.
A buyer may be maxed out, or a seller may have a low threshold. Both are common problems, and it needs finesse to close the gap successfully. Don’t get mad, don’t compromise your position, state your options and see what can be done by the professionals.
Play nice and enjoy the process. There is enough emotion in a residential real estate transaction without personalities enhancing conflicts. It may seem like you and the other side are opponents, but in reality, you both want the same thing.
You just need to find a way to get there together. Play nice and you will achieve your goal.
When it comes to choosing professionals to assist you with your Real Estate needs… Experience is Priceless! Jim Valentine, RE/MAX Gold Carson Valley, 775-781-3704. dpwtigers@hotmail.com