Real Estate is not for the Faint of Heart

By
Real Estate Broker/Owner with Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington 0788174
http://actvra.in/4bp2

Published Originally in 2012.

 

Because my first two real estate transactions from six years ago were like the first harvest in spring wherein smiles beamed flawlessly from the east and west, I thought that my new venture would remain a breeze. But.... gusty winds and tempest weather were invoked on my third transaction. Here is what happened. faint-hearted

 

As soon as the mortgage contingency date was over, my sellers sold their personal items at cheap prices through a garage sale to facilitate relocation to the warmer state. I felt vicariously the excitement and their could-not-wait-to-move out  frame of mind. 

 

But the delight eclipsed slowly when I could not get the commitment letter from the buyer's agent after several attempts. We had five thousand in escrow which should cover the liquidated damages. But my greenhorn self could not sleep over the fact that my sellers had to postpone their plan and that we had to start the process all over again. I was also hard on myself for failing to advise them not to dispose of anything yet until I the commitment letter was in my possession.

 

Their huge frustration over the deal which was ready to fall like the sword of Damocles dangling over our heads affected me immensely that I would write an e-mail to the buyer's agent in the wee hour of the night to make a follow up for the umpteenth time hoping that I would wake up the next morning with a commitment letter attachment in my inbox.

 

Adding woes to the sellers' misery was the filing of suit at the small claims court to get the five thousand deposit as their recourse. They waited six months to be heard at the court. The judge ruled in their favor. But the buyer's lawyer, who was also acting as the trustee for the buyer---yes, the same person who signed the contract on buyer's behalf----filed a motion. A motion for ????. Hey, I am not a lawyer.

 

Hah.. Indeed, the "who you know" phrase worked. A different judge reopened the case and changed the ruling. How did it happen? I remembered hearing that all decisions made at the small claims court by the presiding judge would be final.

 

After months of anticipation, my sellers received a letter signed by the second judge granting them $1200 as liquidated damages instead of $5000. This specific manipulation of the system made me question the validity and strength of a contract which should be deemed binding and enforceable in the court of law. But I am not going that far and digress because my disappointment is about to percolate.

 

The whole experience gave me anxiety-filled and sleepless nights months. My emotional attachment to the sellers muddled my professional responsibility. As years pass by, I get better in keeping my emotions in check lest be drained--mentally and emotionally. 

 

Every transaction is unique and the worse part is there are things and factors involved which are completely beyond our control: Home Inspection, Appraisal,Titles, Personal Incidences, Final Walk-Throughs, etc. There could be an instance when a check evades your waiting hands right there at the closing table. This would be the moment which can precipitate an emotional breakdown. 

 

Our job requires great labor coupled with uncertainty as our compensation remains in limbo until the check shows as an available balance in our account. Hence, we realtors, should hold our heads high for our resolve and undaunted perseverance. For our heart is filled with compassion but strong enough to resist surrender despite the odds.  For the job we chose is not for the faint-hearted.

 

 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Mike Cooper 01/06/2012 12:17 PM
Topic:
ActiveRain Community
Location:
Connecticut
Groups:
Realtors®
Tags:
maria gilda racelis
realtor manchester ct
realtor bolton ct
realtor vernon ct
realtor andover ct
ct lakefront
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Rainmaker
488,878
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise, Meridian, Ada/Canyon/Gem/Boise Counties

Oh, this job is so so much harder than people realize.  I had a stomach ache from stress for at least the first 18 months until I toughened up a little bit :-) P.S.  Suggested your post for a feature. -Kasey

Jan 06, 2012 11:54 AM #1
Rainmaker
540,827
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

Hi Kasey: Thank you for the suggest and thank you for the input. :) You are definitely correct that some people do not realize that our job is stressful and there are times that the stress does not translate into money in our pocket book. May you have blessed years to come

 

Jan 06, 2012 12:06 PM #2
Rainmaker
452,506
Diane M. Phillips Realtor 443-286-4365
Frankly Real Estate Inc. - Manchester, MD
Specializing in Carroll Co., MD

Maria ~ So true! This business is not for the faint of heart.

Jan 06, 2012 12:38 PM #3
Rainmaker
237,607
Donna Paul
Keller Williams Realty Gold Coast - Dix Hills, NY
Long Island Home Specialist,All About Real Estate

What a world wind you went through with your client. I saw your post once Mike re-blog it and I thought I must stop by and leave a comment. Our job is not just selling a home it much more than that for sure.

Jan 06, 2012 02:37 PM #4
Rainmaker
540,827
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

Hello Diane and Donna: I appreciate your comments. Who else can relate to this blog but fellow idividuals in our field? More power to all of us.

Jan 06, 2012 10:31 PM #5
Rainmaker
939,419
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Ugh, I can see why that experience caused sleepless nights.  The best end-result is a thrilled client with an exchange of keys.  Unfortunately, there are stumbling blocks all along the process that could get in the way.  The job we choose is definitely not for the faint of heart!

Jan 07, 2012 12:13 AM #6
Rainmaker
166,200
Lisa Dunham
Alexandria, VA
Associate Broker, Alexandria Virginia Real Estate

Wow, Maria!  What a roller coaster!  I am sure I would have taken this experience to heart just as you did.  I, too, am very passionate about my clients and this experience would have left me in a state of panic for months.   As real estate agents, we must endure much and you certainly have provided a fine example of that.  I agree that this job is definitely not for the faint at heart.

Jan 07, 2012 01:06 PM #7
Rainmaker
372,241
Bruce Hicks
Best Homes Hawaii - Honolulu, HI
Your Lifetime Friend/Helper!

It seems we as an industry, must educate the public that we are more than the 'car salesman' view that the media projects.  We come to the table with responsibility.

Mar 21, 2012 03:17 AM #8
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Rainmaker
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Maria Gilda Racelis

Home Ownership is w/in Reach. We Make it Happen!
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