SIX CLOSINGS THIS WEEK!

A few weeks ago, I was sitting in the office of a very successful Realtor after completing a Home Inspection for one of her clients. I asked her how she was doing in sales. She smiled, pointed to a stack of pending closings, and mentioned that six would close by that Friday.

It got me thinking. What are some of the issues that spell success for Realtors in any market? Granted, I am a Licensed Home Inspector and would never claim to be an expert in Real Estate sales. Still, with a BSBA in Marketing Research and extensive communication with hundreds of Home Buyers and Realtors over the years, I may be able to offer a few objective suggestions.

 First, I can't tell you how many Buyers complain to me about issues they face after making a purchase agreement (and getting it accepted, of course). For example, one customer of mine had hired a Realtor as her Buyer Agent, completed a purchase agreement (having told the Realtor that she wanted a home inspection) and then found out later that the home inspection contingency box had not been checked. The sellers refused the home inspection, she walked away from the purchase and found another Realtor. Other customers of mine have walked away from a deal because the sellers would refuse to pay to have the utilities turned on for inspection. Again, I don't claim to know the specifics of your responsibilities as a Realtor, but if you are representing a buyer as their agent, I do know that the Premier Realtors I work with are always very careful to sit down with the Buyer and help them (or at least advise them) as the buyer fills out a purchase agreement. These Realtors make sure there will be no surprises. If a home has been winterized, the Realtor makes a point to know about it and makes sure there is language addressing who is responsible for turning on and off utilities, who will pay for it, and what will happen if repairs are needed. If the buyer wants a home inspection, the Realtor makes sure that it has been properly requested in the purchase agreement and ensures enough days have been allocated to complete the inspection given the particular circumstances present in each situation.

Next, this may seem like a no brainier, but again, the outstanding Realtors never get put in a situation where they don't have access to one of their listings. What I mean is, there is a purchase agreement on the table, a buyer needs access to the property, perhaps for a Home Inspection, or perhaps just to measure for curtains. Unfortunately, the listing agent doesn't have keys as the seller's uncle who lives down the street maintains the property...only he is out of town. I have seen this happen more than once.

Or, the buyer needs information from the seller (is the roof still under warranty?)

Unfortunately, the buyer agent doesn't have a number for the seller, the listing agent can't reach the seller and no-one has email!

What I am really trying to say here, is that the Realtors who consistently rack up the big sales do more than extensive networking, putting in long hours and running successful ad campaigns. They also pay attention to details, even the smallest ones. If they know something could become a problem, they already have a plan in place to tackle it should it surface. Postponing a closing (in my opinion, and that of my Buyers) is not an option except under extraordinary circumstances. 

As I've said, I know a lot of Realtors...in the hundreds! Some are real pros. In my opinion, the best way to pick them out among the minions is to see how well they represent the interests of their clients.

I would like to see all of you reach your goal for 2008!