A DIFFICULT TRANSACTION

I recently completed a rather difficult real estate transaction with another agent.  I was the listing agent on a bank owned property.  The buyers agent worked with buyers that stuck with the process for over 3 months.  The property had multiple problems - water in the basement, cracking drywall, holes in the walls.  At one point - the bank gave the potential buyers a counter offer which the buyers accepted.  The bank then backed out of the deal. That's right - they "verbally" gave me an acceptance which I conveyed to the buyers agent.  But when I sent in the contract to be signed, the "higher ups" at the bank refused to sign it.  So the buyers walked away.  A few weeks later - they came back and accepted the new counter offer from the bank.  I had never seen this before and I didn't blame the buyers for walking away. 

WHY THE AGENTS MADE THE DIFFERENCE

Buying or selling a bank owned property can be a difficult process.  Trash outs, utility problems, liens on the property.  Not to mention the obvious whiplash caused by the lender.  But throughout the process the other agent and I always managed to stay calm and rational - being upfront about what was occuring.  When the buyers expressed concern about the water in the basement - I provided them with a quote from a contractor that I had ordered on the banks behalf.  Turns out - the buyers inspector knew this contractor and said he does great work.  I think this gave the buyers a sense of assurance that it was a legitamate and accurate portrayal of the problem.     

SO WHY DOES IT MATTER

Throughout the process I was honest and upfront with this agent.  We did not know each other before the transaction and the fact that we were both respectful and honest while representing our clients made the difference in getting this deal closed.  I have all the confidence that, should I have the opportunity to show her property in the future  or vice-versa - we can both assure our clients that what the other agent is representing to be the truth is, in fact - the truth.  What do other agents think when they schedule an appointment to show your properties?  Could your professional repuatation with other agents help you sell more property?  Absolutely.  

Bo Buchanan, Kettley Realtors 58 Chicago Rd, Oswego IL. 60543 (630) 846-4663

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