Three Quick Steps to Make Your RE Transactions Easier
Your realtor actually knows stuff and you should listen. They're looking out for you.
I have been dealing with two different sales that could be moving along smoothly if people would listen to their real estate agents.
They’re not listening, and we’re stalled.
So maybe there’s a lesson here.
One is someone who “goes their own way,” according to their agent. That means they’re going through the sales steps in an order that makes sense only to them, and is creating a lot of confusion.
Their agent, who’s got plenty of experience, has tried to explain that there’s a reason the steps are done in a certain order, but they’re not listening. They hadn’t even signed the purchase agreement, though they’re “committed” to the deal.
Words are not a contract. There is no deal until they sign.
The other one is a seller who is jeopardizing their sale. They got an excellent offer and accepted it, plus they got generous terms to give them time to pack. Now they’re insisting on redoing tests done by the professional inspector because they don’t like the results.
If their own test comes back with different results, whose test do you think the buyer will accept? The professional they paid? Or the suspicious seller’s DIY test?
It’s adding a level of complication that may burst a deal that looked airtight.
These are the kinds of situations that highlight just how much real estate agents know, and the possible consequences for not listening to them.
Clients like these are politely referred to as “uncoachable,” and that’s not a good thing.
Most licensed realtors who’ve been doing this for awhile try to avoid those clients, knowing it’s a losing proposition. You can’t help people who won’t listen to you. But you’ll waste a lot of time trying.
But the fact is that all of us have accepted clients, hopefully not too often, only to learn later that they’re uncoachable.
Here are three quick tips that will make your deals go more smoothly, and help you make the most of the expertise your real estate person brings to the table.
Listen. They will explain the sales or buying process thoroughly.
Ask questions. Do not assume you know better. Ask questions instead. And use the word “why” a lot. Every step in the process has a “why” and your agent knows those answers. With enough questions, you’ll get to the same page.
If your agent suggests something you’re doing is a problem, repeat #1 and #2.
With all the talk about the future of buyers’ agents in the purchase of real estate, this is something I haven’t seen discussed. Buyers don’t have the experience in the process, even if they’ve bought before. Attorneys charge by the hour for their opinion and they, from what I’m hearing, do not have time to take on an influx of prospective buyers looking for help with things lawyers consider the realtor’s job.
A good buyer’s agent knows how to negotiate. They know how the sales process goes. And they know how to coach you to get the deal that fits all your needs, not just the sales price. If you listen, they’ll help you. Your attorney will take over once the deal is set, and your agent will continue to check in on progress and provide help right up until the sale date.
A good listing agent is a seller’s best advocate. They will advise you on how best to prepare your property for sale. They’ll give you good, fact-based pricing advice. They’ll help you through whatever hiccups may come up. They’ll stay in touch with your attorney once you’re in contract, and help get you to closing.
But you have to listen. If they tell you that damaged floor that “was that way” when you bought it is making a bad impression on buyers, that’s great information. You can fix that.
If your agent tells you the price you want is unrealistic and shows you comparable properties to prove it, you should listen. We all know properties that have been for sale for years because the price is way out of line with the market. No one wants that.
A client and a realtor can be a really effective team. A local realtor knows the market, knows the real estate regulations, and knows enough about human nature to help guide clients to what they want — if they’ll listen.