SOME ADVICE FOR NEW AGENTS - GIVE THE BUYERS OR SELLERS SOMETHING TO "CHEW ON".
Hey new agents, read this blog, it's great advice. It's what I would tell you if you would call me and say, Hey Karen! I'm new, HELP me. My other bit of advice would be, join active rain and BLOG!!!!!!!!!
THIS ADVICE FOR NEW AGENTS ONLY! Most productive and experienced agents have developed a style of communication with buyers and sellers that works for them.
When I say "give the buyers or sellers "something to chew on", I mean PRESENT THE CONTRACT OFFER OR COUNTER OFFER in person, in writing and always, always first prepare a NET SHEET for that buyer or seller.
FACT: A buyer or seller doesn't know what they don't know.
FACT: A buyer or seller will always focus on the price included in an offer to buy or sell.
FACT: The most important piece of information about a transaction MAY NOT BE INCLUDED IN A TELEPHONE DESCRIPTION OF AN OFFER OR COUNTER OFFER.
FACT: The Terms and Conditions are often more important than the price.
FACT: Few buyers or sellers can focus on a complete transaction, offer or counter, by hearing a few details presented to them by their agent by telephone.
FACT: The practice of personal presentation is also a matter of RISK MANAGEMENT. Fewer misunderstandings will occur when agents present in person. Reducing the risk of misunderstanding contracts by buyers or sellers will reduce the risk of future problems.
This post was inspired by an article published this morning by Richard Weisser about a client who states that he'll not pay any closing costs.
WE LEARN FROM EXPERIENCE. I'll never forget an experience some years ago. I listed a home for sale for a military veteran owner/seller. When I presented to him an "Estimated Seller Net" example, he sale clearly, "No one paid any closing for me 30 years ago and I'm not paying any either."
DON'T FORGET THE "TACTILE" SENSE. Folks feel empowered by documents they can hold and read, even when the agents is explaining the document.
DON'T FORGET LICENSE LAW. License law usually requires that a buyer or seller receive a copy of any offer/counter-offer or contract agreement concurrently with their signing.
WHEN TO KEEP YOUR MOUTH SHUT. Two weeks later, I presented a written offer for full price with ALL CLOSING PAID by seller for a Veteran buyer with VA financing. The seller accepted without a single change or counter. DONE!! Now, if Lenn knows one thing, it's when to keep your mouth shut.
THE DEVIL IS OFTEN IN THE DETAILS. I learned long ago that a lot of transactions are lost when agents practice real estate sales by phone. Generally, a telephone conversation can only cover snippets of an offer or counter offer. A contract must be considered in full context. Otherwise, buyers and sellers can have second thoughts when signatures are required and they have an opportunity to review the entire document.
BUYERS AND SELLERS CAN "LOOK YOU IN THE EYE" OVER THE TELEPHONE. Present the written offer/counter in front of your buyer or seller and let them have a few minutes to read and to think. They may have important questions. ALWAYS, ALWAYS present an offer/counter with a NET SHEET. It's the BOTTOM LINE THAT HAS MEANING.
Agents would be surprised how effective the person to person real estate practice can be.
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Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988. Serving home buyers in Maryland and Northern Virginia.
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