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Absentee owners at ease

By
Real Estate Agent with Majestic Properties 3061802

We have several listings from sellers that do not live in Miami.  Some of them live outside the country, some of them outside of Florida.  What these sellers have in common is thatdistance.jpg they hired us because they felt confident and sure that we would handle the sale of their real estate property to their complete satisfaction.

One of our customers  who lives in a different state and whose property just went under contract, expressed that he was nervous about the whole transaction and did not know what to do.  This particular seller thought he needed to be present during all the steps and was afraid he would not be able to sell the property because of lack of time. By communicating with him on a regular basis, he is now confident that the sale of his property is in good hands.

Once these properties are under contract there are steps that must be taken to make sure the transactions go smoothly to keep our absentee owners at ease.

1.  Submitting and negotiating an offer:  When we first receive an offer, we make sure that all addenda are included, signed and complete before we submit these to the seller.  This ensures that all documentation is appropriately filled out and signed by all parties to avoid problems and unnecessary delays.  It is surprising to see how many times we receive incomplete offers because other agents are not aware that certain addenda are required by law.

2.  Making property available for appraisals, inspections, surveys and for any other contractual requirements.  We are always available to open these properties to facilitate the process for all parties.

3.  Managing the transaction to make sure all deadlines are met - including deposits, financing contingencies and commitment letters, inspection periods and closing dates.

4.  We are in constant communication with all parties including Loan Officers, Condo or Homeowner Associations, Title Companies and/or attorneys to make sure there are no unexpected problems with the transaction.  We communicate with our customers regularly to keep them in the loop.

We let our absentee customers know that it is not always necessary to be present at the closing, since traveling may be difficult and not convenient for them.  A lot of them prefer "mail away closings" where they don't have to leave their place of residence and all paperwork is sent directly to them.

In this age of technology, it is all about convenience and peace of mind.  Our customers are always confident that they are being taken care of and they are in good hands.  It feels great to have earned that trust.

Comments(10)

Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Been there done that. 

Listing for out of town owners is HARD WORK.  You do your work and you do the work of the owners.

You are like an Elf in the night.  The owners will wake up one day and, "Gee, it's all done.  The house is sold.  How did that all happen and without any trouble".

Many agents can't be trusted with property management.  Good for you.  It shows dedication.  You will earn your money. 

Jun 15, 2007 11:04 AM
Steve Scheer
Realty Oasis - Metro Brokers - Highlands Ranch, CO
Highlands Ranch Real Estate - Denver Real Estate
Ines, I have completed many transactions like this as well, especially when there is an immediate relo.  Sometimes I have even had to add some necessary maintenance to the list - either getting it done or arranging it.  Great blog. 
Jun 15, 2007 11:24 AM
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Lenn - it's hard work, but I'm sure you will agree it is also rewarding. 

Steve - maintenance and management is part of the process.  We have a listing now that we are getting roofing, paintinting and other estimates for the owner, will coordinate and supervise the jobs and hope to be able to stage it as well.

Jun 15, 2007 11:27 AM
Monika McGillicuddy
Berkshire Hathaway HomeServices Verani Realty - Hampstead, NH
Southern NH & the Seacoast Area

I've had a few of them but mostly my sellers still live in the homes they are trying to sell. Sometimes I think it would be easier if they didn't :)

 

Jun 15, 2007 11:53 AM
Susie Roscoe
Signature Realty Associates - Brandon, FL
Real Estate Specialist | Brandon, FL
I'm sure he feels differently now...GOOD TEAM WORK!!  Watch out...you might give him too much service making him "talk about you" to his friends...and have more listings to sell!  What a problem!  I loved most hearing you are in touch with him regularly!!  THAT goes so far I've found. 
Jun 15, 2007 12:18 PM
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Susie - it's funny how communication, the most trivial part of our business, is so difficult to find.  That has to be the number one complaint from the consumer about real estate agents.
Jun 15, 2007 12:21 PM
Sue Argue
Staged First Impressions - Hampton, NH
NH Home Stager
Ines, well written blog and very cool picture. It's a huge responsibility to handle the whole process, but it sounds like your clients have picked trustworthy and experienced agents.
Jun 15, 2007 12:28 PM
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Sue - the picture is from 123RF.com.  When you deal with absentee owners it's either all or nothing, so yes it's a huge responsibility and not for everyone.  We have a seller now in France and sometimes I feel like it is easier to communicate with him than our local sellers.
Jun 15, 2007 01:24 PM
Sue Argue
Staged First Impressions - Hampton, NH
NH Home Stager
I usually use yotophoto.com but I like the one you mention better...thanks!
Jun 15, 2007 02:23 PM
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Sue - I will have to check out yotophoto.com, it's great to have options.
Jun 15, 2007 02:26 PM