Putting the pieces of the puzzle togetherOver the past few months, several sales-in-progress have been occupying a major portion of my time.  When my clients and I began our journey together we had  NO IDEA what lay ahead.  The problems we encountered were mostly the result of  the shifting ground that the lending crisis created.  The banks were moving at a pace that would make a snail look like an olympic sprinter.

Each transaction had its unique set of players and problems. But in each case I was blessed to be dealing with buyers, sellers, agents and attorney’s that all pulled together to get to the closing table.

In this environment, there is no room for egos and selfishness or special agendas…

Real estate transactions can be rife with conflict, anger, egos and selfish motives.   In these difficult times, closings are hard won. Buyers, sellers, agents and attorney’s are having their patience and tempers challenged at every turn. One agent said to me – “its like we are CLAWING our way to each and every closing.” I liken it to trying to walk through mud that is waist deep.  Having reasonable clients, working with agents who are willing to get the job done, and having responsive a communicative attorney’s are no longer luxuries – they are essential components of a successful transaction.

So here is  a heartfelt “thank you” to….

My client’s Kathy, Frank, Allison, Judith, Ted, Cristina, & Laura – for patiently prevailing during through all the delays.  I know there were times that you thought you would never close. Your tenacity and determination paid off.

To the agents on the other side of these transactions, Suzanne, Andrew, Regina, Liz, Delilah and Lorna I thank you for your diligence and hard work moving the transactions from the beginning of negotiations and through the challenging escrows intact.

Finally to the attorney’s Michael, Lou, Mary, and Rodney  I thank you for putting the contracts together in a timely manner, keeping the agents in the loop while following up on the many issues that the lending crisis created.

Everyone named went above and beyond.  No one had a grudge or an axe  to grind.  No one was trying to take advantage or club the other party into submission under the guise of “negotiation.”  We  worked with our clients to put together a win-win deals for all concerned.   These closings are a perfect example of what can be done when parties acting in good faith pull together to achieve a common goal.

© 2009 Ruthmarie G. Hicks, http://thewestchesterview.com.  All rights reserved.

Working cooperatively towards a common goal is a win-win for agents and clients alike…

 
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10 Comments on Working cooperatively towards a common goal is a win-win for agents and clients alike…

JUL
23
126,297 Points 9 Featured Posts

HELLO RUTHMARIE!  What a great story!  It's so easy just to be nice - isn't it?! Congrats!  -- Gabrielle

3:48pm • #1
159,536 Points 1 Featured Post Outside Blog

I was just talking to another agent about this today. We have commons goals, let's get these deals closed and all play nice.

3:49pm • #2
642,578 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

Ruthmarie- Awesome! I am so glad you closed and that you got through the mess and mud with lenders that who have moved from end of the lending spectrum to the other. Good for you and all who are involved.

3:50pm • #3
JUL
24
162,239 Points 10 Featured Posts Localism Sponsor Outside Blog

Hi Gabrielle,

In this tougher market, some clients, agents and attorney's don't see it that way...they just want to CLUB the other side.  If problems in escrow occur, the bad feelings that were the result of an overly zealous negotiation can come back to haunt the buyer or seller.  It doesn't matter whether the source of the strife is the agent, the client or the attorney.  But it can cause trouble - plenty of trouble.  Particularly if a loan is delayed due to the bank.

In these cases, everyone was on board and working TOGETHER.  There was one element that was problematic in one of these transactions, but at the end of the day, the rest of us were able to work around that. These transactions CLOSED.  Because everyone cooperated and everyone took their share of the pie and pain.

 

 

 

 

10:41am • #4
162,239 Points 10 Featured Posts Localism Sponsor Outside Blog

Hi Jen,

Some people don't want to.  There are a couple of agents right now that I am working with against - who just don't seem to care at all what happens.  Sometimes clients just want it all their way.  That won't work in our current environment.  It might work in the short term (or appear to work.) BUT if problems crop up later - and they DO more often than not right now....there can be big, big trouble at the zero hour - which is the worst possible time for major issues to crop up.  Things like this endanger closings and prevent people from moving on with their lives.

10:45am • #5
162,239 Points 10 Featured Posts Localism Sponsor Outside Blog

Hi Katerina,

Thanks so much - i was holding my breath on a lot of these.  The issues were all varied, the one thing they had in common was that they were all ridiculous!  Each one endangered the transaction. From the underwriter who wouldn't go from a commitment to clearance for 10.5 weeks, to the condo that was examined under a microscope becuase it had  only 50 units, to the cooperative that had to have a special board meeting to up their fidelity bond insurance before a bank would give a loan, to the buyer who was puttling down 60% cash - creating so small a loan that it was shoved endlessly on the back burner....I felt like all the lenders belonged in a mental hospital.

The one common thread was that everyone was working together.  Had anyone been at all problematic or difficult. Had there been any animosity built up priror to these events - these deals would have been DOA. In the end, I knew I had clients, agents and attorney's that I could count on - and that made all the difference.

 

10:53am • #6
JUL
26
121,820 Points 1 Featured Post

Ruthmarie - I have had some bank owned asset managers who act as though they don't want the home to sell and I don't get that at all.  They make it so difficult to complete a transaction sometimes, and all I am trying to do is help them get rid of some of their inventory.

3:31pm • #7
JUL
27
162,239 Points 10 Featured Posts Localism Sponsor Outside Blog

My area has been lucky. There are foreclosures in some parts of Westchester, but not in the areas where I work specifically.  These four transactions were unusually difficult, but everyone was very cooperative - with the exception of the banks!   But given the way the banks are behaving  - it behooves everyone to be somewhat agreeable.  Problems with escrows can haunt the deal and bad feelings can easily resurface at that point.

12:16am • #8
AUG
03
218,733 Points 2 Featured Posts Outside Blog

Hi Ruth Marie~ It doesn't make any sense for anyone involved in the transaction to not be gracious and accommodating.  I mean after all, we are all professionals! We all need to act that way!

10:22am • #9
162,239 Points 10 Featured Posts Localism Sponsor Outside Blog

Hi Vickie,

This is NY!!! It's different in NY!! You'd be amazed at what we get here.

2:58pm • #10

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Ruthmarie Hicks

White Plains, NY

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Keller Williams Realty

Address: 120 Bloomingdale Rd. Suite 101, White Plains, NY, 10605

Office Phone: (914) 374-5529

Cell Phone: (914) 374-5529

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