|PICTURE THIS- You are a seller on settlement day and all your possessions are on a moving truck. You are waiting to settle on your old condo before you move on with your life. All of a sudden you have a buyer who is threatening NOT to settle for a reason that you believe is silly, inane, or otherwise outrageous.....|
There are many bumps in the road during a Real Estate transaction and buyers have many contingencies in their offers that provide an escape route should they decide to exercise such options- like a home inspection or the condo doc review period. And generally speaking from 24 years experience selling condos in this town- buyers are generally a nervous lot. That is kind of a given. And from a seller's perspective, nothing sucks more than a buyer rescinding a deal just prior to settlement via the condo doc review period. You see, when are you are a seller, I would suggest you make your end of the deal about dollars and cents. Not about getting your ego stroked. Kinda' harsh, I know- but I do think it is my responsibility to get you your money. If I can hold your hand in the process...that would be icing on the cake. And I will work on that...I swear.
Most sellers just do not require the kind of hand-holding that many buyers do-
As many buyers are 1st timers and sellers have been through the process
I have found that a main portion of my job is to keep the buyers happy. The importance of checking in with them, providing communication and updates, making sure they know what to expect and when to expect it...is paramount to keeping buyers attached to any given contract.
I recently did a deal where a seller became upset with me because he believed I was favoring the buyer- in terms of offering concessions, kissing the buyer's butt, etc- and NOT offering hand holding service to him-the seller.And he was correct....that is what I do. I keep buyers happy in order to ultimately serve the seller's primary goal- which is making sure that you get your MONEY. That is really the key goal for a seller- to make sure he gets his money and doesn't get too bumped up on the way out the door. And sometimes it may appear that I am favoring the buyer, holding his hand more, kissing his butt more, etc etc. And there is no "appearance" about it....I am doing that.
Because nothing is worse than a pissed off buyer at the settlement table who wants to raise hell or bring a lawyer because he is mad about a PLETHORA of possible issues that arise during a transaction or the final walk-through. Or a buyer who is really pissed for some reason AFTER settlement and decides he wants to torture a seller post-settlement. That really sucks for everyone.
Most deals don't require a lot of interaction with the seller. It is usually the buyers
who have many hurdles to jump during a Real Estate Transaction
The one question sellers always have- IS THIS DEAL GOING TO SETTLE?
My answer is always the same- If the buyers are happy they will find a way to work through mortgage issues, condo doc issues, home inspection issues, etc.
IF BUYERS ARE HAPPY. And I personally have a very low "fall-through" rate at that....
Though I really never ever ever want my sellers to have to pound sand...if they have to take a lump here or there to ultimately get their money- then I do feel for them. However the alternative is much much worse than me not showing you as much love as I show the buyer. You follow me?