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The Most Important Aspect of a Real Estate Transaction

By
Real Estate Agent with DFW FINE PROPERTIES 0506509

by Patricia Feager, 6/17/2017

 

F&Q - Part 5 of 5

 

What is the most important aspect of a Real Estate Transaction?

 

Communication is the most important aspect of purchasing a home. Our brains are lateralized and depending on whether a person is left brain or right brain, humans process information in different ways. The ability to remember what we see, hear, read, and write is critical to achieving success. Effective communication is necessary to feel comfortable.

 

Effective communication is a skill that takes practice to comprehend words, understand meaning, talk back with cogency, intelligence, and express feeling. Language has been evolving before we were even born. Take for example, Shorthand. Gregg Shorthand has been learned and used by people of my generation and my predecessors in English and foreign languages for more than two thousand years. Although it would be rare to find a school that teaches Shorthand today, its objective was to speed up what a speaker was thinking out loud and transcribing the content into meaningful text. In old business, it was very effective!

 

Texting is a form of communication. It is a universal language used in business, between families and friends, to get the news out fast, express joy, happiness, sadness, alert the general public, and it gets our attention quickly. When you're dealing with other people's money the buying/selling process is an emotional roller-coaster ride for everyone involved. Sometimes people cope well and have a smooth transaction. Other times the ride can be bumpy, scary, challenging, etc. Circumstances for all are unique


Keeping informed commands tactful communication and respect. Considering the use of text during the home-buying process, you're dealing with people on their most primal level. People tend to hold on to their money tighter and the forces of emotions escapes into words that need to be controlled by putting things into perspective. Afterall, people are playing the game of negotiations with other people for large sums of money. The intensity for each individual can be great, regardless of how much it costs or where the money is coming from. Sometimes, a home purchase or sale is the result of a life change which involves flesh and blood. Real Estate is a precious commodity; relationships with people requires a higher form of communication with no surprises. Whatever the circumstances, for some the emotional minefield is ready to explode. Communication has to be your best: calm, controlled, and concise. 

 

shorthand

 

pf

Patricia's Tip of the Day:

©Let people judge communication with best words beautifully orchestrated with ease and accurate interpretation.  

 

Posted by

Texas Law requires all license holders to provide the Information about Brokerage Services form to prospective clients.

https://www.trec.texas.gov/sites/default/files/pdf-forms/CN%201-4-1.pdf

dfw fine properties

PATRICIA FEAGER, REALTOR®
DFW FINE PROPERTIES
3575 LONE STAR CIRCLE SUITE 315
FORT WORTH, TEXAS 76177

Email Me
                                  

                                     

MBA (University of Dallas)
BA
(Bachelors of Arts & Science)
Paralegal (Southeastern Career Institute)
Associates (3) (College of Lake County)
KU (University of Kansas)

CERTIFICATIONS

CRS (Certified Residential Specialist)
SRES (Certified Senior Residential Specialist)
PSA (Certified Pricing Strategies; Mastering the CMA)
CRS (Certified Military Relocation Specialist)
RENE (Real Estte Negotitions Expert)

"With self-discipline most anything is possible." --- Theodore Roosevelt 

 

 

 

  

Comments(43)

Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA
Future Home Realty - Seminole, FL
Providing the integrity and service you deserve.

Setting expectations and communicating those expectations well sets the tone for the relationship. Frequent continued communication will make the transaction go smoother and will make for very happy clients. Great post. 

Jun 19, 2017 08:45 PM
David Wright
Benchmark Realty, LLC - Brentwood, TN
Real Estate Refined

This is a relationship business and without great communications, deals can and do fall apart. It's tough enough sometimes even with excellent communications. Melissa Spittel you are so right about communicating each step of the transaction process to the clients. They must know the steps involved and when those steps come into play including the hazard insurance deadline, credit report ordering deadline and the deadline and gravity of the resolution period to name a few of the performance deadlines. 

Thanks for posting Patricia!

Jun 19, 2017 08:46 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Hannah Williams - Our body, mind, and spirit are tested from time to time. It helps to put things into perspective and remember what our purpose is in life. Always and forever, we should do the right thing for all the right reasons. I'm sure this was the case for you. 

Have a wonderful day!

Jun 19, 2017 09:12 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Hello Gita Bantwal - Speaking of communication, I owe you a phone call! I hope we talk soon.

Wishing you peace and good health. 

Jun 19, 2017 09:14 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Melissa E. Spittel - Those are the best four lines I've heard in a long, long time! Obviously, you get it! A true professional practices a holistic approach every day while conducting business. I'll bet you're the best for your community. 

Thank you, and have a wonderful day!

Jun 19, 2017 09:16 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

I really, really like what you had to say Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA. Setting up expectations and following through is not easy for the formula to success depends on how well relationships work from the very beginning. There are many times when things are outside of our control. Maintaining calmness, rational thinking, and fostering excellent communication can often get us through anything. It sounds to me like you work at this all the time!

Good for you! 

Jun 19, 2017 09:20 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

David Wright - I'm convinced that at the root of all problems is lack of communication or confusion about what's communicated. We can never assume others know what we're thinking; nor can we assume we don't have a fiduciary responsibility to keep people informed. It takes adult responsibility to communicate effectively. 

Thank you, David!

Jun 19, 2017 09:25 PM
Barbara Brockus, MBA 602.421.2651
Diamante Homes Realty - Phoenix, AZ
GRI, ABR, SRS, SRES, and MRP-covering Arizona

Patricia thanks for the advice the article is excellent.  Another key component is answering the phone when it rings and not allowing the client to receive your voice message most of the time.  I do believe nationally that's one of our consumers' number one complaints about Realtors.   Ongoing communications with one's client are crucial but in order to engage let's not forget the importance of picking up the phone and answering the call.   

Jun 19, 2017 11:54 PM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

Excellent post Patricia! Communication is key! We are currently selling a boat and communication from our broker is lacking. It's so frustrating!

On a side note: I enjoyed the shorthand sample. I used to be very good at it....quite fast! I barely can read it now. I miss it!

Jun 20, 2017 05:56 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Barbara Brockus, MBA - 6024212651 - Thank you for your kind words and adding valuable content with excellent comments. Not answering the phone is a pet peeve of mine too. Or worse.... the voice message that is long with unnecessary words dropping off with a text me and no room to leave a message. Phone and communication etiquette needs to be taught and learned to stay in business.

Thank you, so much for your wise words. 

Jun 20, 2017 07:38 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Sharon Tara - I'm glad to hear you were a Shorthand pro too! Once upon a time I claimed fame to being one of the fastest in Chicago but I wouldn't qualify today. Although, I do use it occasionally, it isn't the same when I peaked. You and I have a lot in common!

Good luck with selling your boat. It becomes very stressful when you're trying to accomplish something and people don't return phone calls or messages. I feel your pain!

Jun 20, 2017 07:41 AM
Sharon Tara

There is a showing today. Fingers crossed!

Jun 21, 2017 08:06 AM
Dorte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Patricia,

Yes, very good to know, what is going on on all sides.

Jun 20, 2017 08:16 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Dörte Engel - Amen! Communication can't be one-sided! It would be as sticky as eating an open faced peanut butter and jelly sandwich without a napkin!

Jun 20, 2017 09:11 AM
Francine Viola
Coldwell Banker Evergreen Olympic Realty, Olympia WA - Olympia, WA
REALTOR®, In Tune with your Real Estate Needs

We all can agree on this topic, and I think we all THINK we are great communicators!  But sometimes that isn't the case.  Your clients will surely let you know if you are NOT communicating in a way that works for them. :-)

Jun 20, 2017 11:14 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Francine Viola - I just LOVE your comment! When the ego gets in the way of becoming a better listener, problems are sure to rise! You are wise to figure this out!

Jun 20, 2017 11:43 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Patricia, you hit a bulls eye with this post.

Communication is so important.

Communication to start the process is vital to know where you are starting and what the target is.

Communication during the process is important to keep everything on track so you will end up at the desired target.

Communication at the end is essential to make sure we arrived at the target and have met the expectations of those we represent.

Thanks

Jun 20, 2017 01:02 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Oh, John Wiley - Everything you said is so true! Keeping everything and everyone on track, making sure the client is involved and prepared is very time consuming and critical.

There are days when I feel like a nurse in the hospital who is constantly taking your temperature and your blood pressure. It may seem routine to the patient but if I was a nurse and those vitals changed because I wasn't doing my routine check-ups, it would mean I wasn't doing my job, and the patient could be in serious trouble! 

Communication IS the most important aspect of any type of business transaction. 

Your input is greatly appreciated!

Jun 20, 2017 02:01 PM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

So true!  Communicaton is so critically important.  Down to the last detail, everything should be communicated in the manner that best suits the buyer or seller!

Jun 20, 2017 08:33 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I am finding more and more clients are wanting to text and it isn't just the young crowd. It seems I text far more than I email these days and not many answer their phones so forget a phone call.

Jun 21, 2017 06:34 PM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Real estate can be very emotional business, and creating relationships with our clients are the most important aspect of it. Do your best and be your best to become the best for those people we serve. 

Nov 08, 2017 10:27 PM