How Not to Buy & Sell Homes - The Bridge Burning Technique
Why do people burn bridges? Simply put, I think because it’s satisfying. There are definitely two camps on this issue as far as real estate agents are concerned, some are definitely anti-burning and some are definitely pro-burning. Both camps can seem ridiculous at times. The agent who believes in continuing the conversation no matter how futile, or the agent who negotiates with a Zippo in one hand and lighter fluid in the other.
I won't pretend I've never burnt a bridge... I have. And, it certainly has been gratifying. Sometimes you burn a bridge because you want to guarantee that you won’t use it again. And it is an effective technique for sending a message. When I decided I didn’t want to work another law firm job, I told a legal recruiter that I rated those positions right up there with “Puppy Assassin” in terms of desirability. That did the trick, no more calls or emails from her.
When potential buyers and sellers start setting things on fire, I do start to wonder though. After all, it’s hard to pretend you don’t want a property when you offered to buy it, and it’s hard to pretend you don’t want to sell a property, when it is listed for sale. So why all the ceremonial torching? Some people view bridge burning as a type of negotiation; they actually burn the bridge and expect the other party to swim across. I must admit, I haven’t experienced that one yet.
I have seen those same arsonists out in the middle of a lake trying to reconstruct a burnt bridge or two. In my experience, it’s painful to watch and very expensive indeed. And, I have also heard the pangs of regret months later, from many a reformed flame thrower. Regret is also expensive, and also painful to watch.
Typical offenders in this market? Sellers who draw a line in the sand and then don’t listen to the market, investors who love their spreadsheet more than reality, and buyers who thought they would be in the driver’s seat forever. Ships do sail and bridges do burn and we see it every day in this business.
Once lit, whether slow burning or fast and chaotic, that bridge will burn, and when its gone, its gone.
Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent. She has successfully completed short sales with Bank of America, Wells Fargo, CHASE , GMAC, Seterus, IndyMac, CitiMortgage, Green Tree Servicing, Specialized Loan Servicing, HomEq Servicing, Wachovia, Coast Hills Federal Credit Union, Select Portfolio Servicing, Fannie Mae, Freddie Mac, and others.
* Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Tni LeBlanc and MInt properties are not affiliated or endorsed by any lender.
Copyright ©2013 Tni LeBlanc *How Not to Buy & Sell Homes - The Bridge Burning Technique*
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