Don't Count Your Money

I never got into the habit of counting my chickens before they were hatched, but I remember plenty of good real estate agents that did.

Counting Your Money Is Not A Good Idea

While I didn't think it was a good idea when the market was brisk, I definitely don't think it is a good idea with the current market conditions.  As the market begins to recover I believe that it is going to take the consumer a bit longer to recover.  In our marketplace I have noticed that even when a buyer finally makes the decision to purchase a property, they still seem to be a little uncertain.

Buyers Are Anxious

This could be because they are unsure about their job stability, the stock market or simply wondering if the market has truly hit bottom.  So with buyers having so much anxiety, we really don't know if the transaction will make it to settlement.  If the buyer's anxiety spirals out of control, they may attempt to find reasons to get out of the contract.  Perhaps they'll use the condominium document review time period or perhaps find the property "unfit" after they have the home inspection.  If they want to get out, they will get creative.

No More "Happy Dance"

As real estate agents working in this financial climate we can no longer do the "happy dance" when we ratify an offer.  Today, ratifying the contract is just the tip of the "real estate transaction "iceberg in this new environment we are working in.  After negotiating tirelessly to get the offer ratified, we then have to negotiate the home inspection items and then hope and pray that the appraiser uses the correct comps to evaluate the property.

Can You Relax At Settlement

We never have a chance to relax and enjoy the process.  Counting the money should be the last thing on our mind.  The only real time we know a property is going to settlement is when we are at the settlement table...and even then we often hold our breath until the last document is signed.

Related Articles

• I Thought This Would Be Easier
• It's A Process AND An Event
• The Home Inspection - Are Your Clients Prepared
• It's A Good Time To Buy Real Estate

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