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 Throughout my awfully long real estate career, I've noticed that almost every transaction has at least one - usually more than one - moment when I'm sure the transaction isn't going to make it.

You find the perfect house, craft and negotiate a great deal, then it starts.

First, the buyer's remorse.  It's usually temporary.  I've been known to use the old Tommy Hopkins M&M trick - you know the "buyer's remorse pills".  Take two when a panic attack strikes.  Almost always works.

Then there is the home inspection.  When the anal compulsive house nerd finishes with the place, the buyers are left wondering, "What were we thinking?"

 Once the inspection freak out is resolved, the appraisal report comes in - and of course in this "declining" market, it's low.  But wait!  They didn't use the last two sales that totally supported the sales price.  So the redone appraisal comes in over asking.  Yippee!

Then, as we're on our way to the walk-thru, I get a call from the listing agent explaining the sellers are in a tizzy because their sellers decided not to sell, so they don't want to go to settlement until they buy another house.  Holy Yikes!  After an intense conference call with me and the listing agent and the sellers, they get it and arrange a temporary rental.

After you've strong-armed the poor sellers, you get a call from the title company saying the loan hasn't been funded yet and there is some issue with the paperwork being stuck somewhere in underwriting. 

Then finally, somewhere after the roller coaster and tilt-a-whirl, you wind up at the settlement table with everyone signing papers, trading keys and smiling.  And you think to yourself, "This is a freakin' miracle!"

 

20 Comments on Do You Work In An Amusement Park?

Pat - I have often commented to my clients about the fact that I can do everything perfectly, but someone else doesn't do their part of the puzzle correctly, and I don't get paid and they don't get the house bought (or sold).  It amazes me how many intricate little pieces must fit together to get a transaction to occur.

03/10/2008 12:45 AM by Jason Crouch, Broker - Austin Texas Real Estate (Austin Texas Homes, LLC)


Patricia:  I remember the old Tommy Hopkins "buyers remorse" M&M's pills idea.  I learned so much from him.  Back in 1973 when I was first licensed... Tommy wat "IT."  He was the best.  The three separate three-day seminars I tool from him shortly after being licensed have served me so well after all these years.

And real estate ?  Yes, some days it is like an amusement park.  And some days it is like a Zoo.  Thanks for sharing.

03/10/2008 01:19 AM by Fort Worth Real Estate - - - Karen Anne Stone (RE/MAX Trinity)


Laughing my rear end off!  You know, I have one that is going pretty smooth right now, and I keep waiting for the other shoe to fall.  We are past the appraisal, so.....  Too easy, these things aren't usually this easy..... 

03/10/2008 01:24 AM by Marlene Scheffer, Realtor to Kitsap County, WA (Realty Station)


Yes, real estate can be like a roller coaster, and we do love amusement parks don't we? That's why working with experienced agents can keep you on the ride and get out of the park. Lessor agents would have got off one of the rides.

03/10/2008 05:52 AM by Missy Caulk Ann Arbor Realtor Ann Arbor Real Estate (Keller Williams Ann Arbor)


Patricia - What a great job of describing that ride through escrow!  I have a list somewhere of 100 Things That May Go Wrong During Escrow and I could add a few more to the list.

03/10/2008 06:23 AM by Norma Toering Rolling Hills & Palos Verdes Property (REMAX Palos Verdes, Palos Verdes Peninsula)


With my hands in the air, I'm screaming all the way down the hill....ahhhhhhhhhhh!

03/10/2008 08:08 AM by Kelly Sibilsky ~ Lake Zurich RE/MAX Real Estate Agent (RE/MAX Unlimited Northwest)


It's those 90 degree turns during the roller coaster transaction that get me everytime. I'm grateful that we don't have those hidden cameras taking souveneir photos that catch our facial expressions along the way.

03/10/2008 08:31 AM by Amanda I HATE THE BLOG BUTTON CHANGE Hall * Texas Real Estate Broker (Hall Team Homes )


Patricia,

Do you realize you just summarized my great and total career in real estate??? LOL Thanks,   Fran

03/10/2008 09:48 AM by Fran 'The Title Man' Gaspari Title Insurance-PA & NJ (Patriot Land Transfer, Inc.)


Patricia:  If I didn't laugh with you, I'd cry!!!  Isn't it amazing to go thru all that and then to have everyone smiling at closing!!! Congrats to you for your perseverance!!!!    

03/10/2008 09:50 AM by Angela Clark Graviss, ABR, GRI Owensboro Kentucky Realtor (Tony Clark Realtors, LLC)


Patricia,

Nice analogy......I guess we may have a bigger share of the roller coaster effect......my biggest issue w/Buyer's is when we are done with all the hurdles and all is well.....and then we don't settle for 2-3 weeks.....the Buyer's begin to wonder IF they need to be doing something....and no matter how I assure them they feel they should keep the rush going.

03/10/2008 10:01 AM by Dan Brudnok - Realtor, e-PRO, ABR, CSP - Chester County RE Professional (Keller Williams - Exton - PA License Number #RS225179L )


Patricia, No wonder I get dizzy sometimes.....I'm on a roller coaster...ha.  Thanks for the analogy.

03/10/2008 10:22 AM by Kay Perry (Classic Realty/GMAC)


Oh Pat - how right you are!  Unlike some; on a Roller Coaster I hold on for dear life - much like a Real Estate Transaction!!

03/10/2008 09:27 PM by James Downing - REALTORĀ® - Washington DC Real Estate (Coldwell Banker Residential Brokerage)


We're in a unique industry with the ups and downs, with the results out of our control. We just had a buyer walk away from a transaction (on which they were getting a great deal and on a house that was perfect for them) because the inspection on this 1992 house showed: A/C is 16 years old and at the end of its life and the hot water heater is 16 years old and at the end of its life (the replacement of both of these when they fail would be covered by the home warranty the seller is offering) and because the roof may need to be replaced in 10 years and they feel they won't have enough in savings to pay for a new roof in 10 years.  Aaugh!

03/10/2008 10:34 PM by Sharon Simms St Pete Florida CRS CIPS CLHMS (RE/MAX Metro)


Sounds like you are talking about my settlement coming up in 2 weeks. It is still happening but everything that could have happened crazy did this time. I guess someone upstairs just wants to keep me on my toes.

03/10/2008 10:40 PM by Charity Lane (O'Brien Realty)


Patricia-and this is precisely why you need a real estate agent who knows how to handle these emotional stresses and strains. How in the world would a FSBO be handling all of this?

03/12/2008 01:23 AM by Nestor & Katerina Gasset RealtorsĀ® Wellington Florida Luxury Homes (International Properties and Investments, Inc.)


I think you should put a link to this in the comments for Yesterday's article "Extraordinary Measures": Should a Writer about our Industry Hear from our Industry?   There's a lot of talk in the comments for that about what value real estate people bring to any transaction, and you've expressed it right here - without being preachy.  Heck, maybe you could respond with this to the article which inspired that post...

03/12/2008 07:13 AM by Margaret Woda, Maryland Real Estate (RE/MAX VISION)


Jason, I've even reached the point where I'll step into someone else's part of the puzzle to make the whole thing work.

Karen Anne, real estate?  I still use the Hopkins's reply, "Oh, it's just unbelievable!"  And it works after all these years.

Marlene, I've been doing this for 25 years, and I'm still waiting for the "easy" one.

And Missy, I had a former client go into real estate because she said I made it look so easy.   She's still riding the coaster, and the tilt-a-whirl!

 

03/12/2008 11:26 AM by Patricia Kennedy (Evers & Company)


Norma, I stole something like that from one of the trainers and tried to make it funny.  It is until one of the "funny" things happens.

Kelly. enjoy the ride!

Fran, Oh, my, gosh!  Mine, too!  

And Angela, we have to laugh about this stuff - it's more fun than crying!

03/12/2008 11:29 AM by Patricia Kennedy (Evers & Company)


Dan, I try to give them their "to do" list piecemeal!

Kay, get off and try the tilt-a-whirl!

James, we'll have to organize a day trip with our DC area blog buddies to King's Dominion.

And Sharon, you raise a great point - there is so much we can't control!  And I am the control freak queen, so I sometimes have to really resist the urge to go gratuitously nutso on a client or colleague.

03/12/2008 11:33 AM by Patricia Kennedy (Evers & Company)


Charity, just remember that if it was easy, we wouldn't get paid so much for doing it.

Katerina, I have some acquaintances who are in the process of buying from a FSBO with no agent involvement, and it'll be interesting to talk to them when it's over.  

And Margaret, good idea.  I read that yesterday and wondered which moon from which plane the guy came from.

03/12/2008 11:36 AM by Patricia Kennedy (Evers & Company)


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Real Estate Agent: Patricia Kennedy (Evers & Company)
Patricia Kennedy
Washington, DC
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Evers & Company

Office Phone: (202) 364-1700
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Pat Kennedy -- author of The Irreverent Guide to Real Estate -- gives you a look at life on the streets as a real estate broker in our nation's capital. And her blog is peppered with great advice combined with humor!


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