Patience Prevails

One of the most needed qualities to have when working in this real estate market is patience.  Fortunately, some of us live in areas where patience is part of our everyday real estate experience.

Resort and second home communities are great places to learn patience if it does not come to you naturally.  Most folks buying property in these areas are not in a rush.  When I say not in a rush, I am not talking about days or weeks. I am talking about months and years.

This is great preparation for the type of market we are in right now.

When working with sellers we have learned to expect the following comment, "I don't care if my house doesn't sell this year.  If I get my price, fine, if not I'll try again next year or the year after.  We hear this even in a buyer's market.

Buyers, on the other hand, say "I've been checking out properties here at Lake Anna for years.  If I find something I like this year at the price I'm willing to pay, great.  If not I'll look again next year."  We hear this even when it is a seller's market.

We, as REALTORS®, are told this whether it is true or not.  I have had sellers say this even when they have written a contract on another home and must sell.  The truth often comes out following the signing of the listing agreement with a price that is high because "they don't really need to sell." 

Recently I was working with a buyer who looked at a number of homes, selecting one off water and one waterfront home.  The next step was to determine which price range he really wanted to be in.  Both homes were affordable, however, one would enable him to continue to do the extensive traveling that he loves.  The off water home would not affect his lifestyle in the same way paying a higher monthly mortgage payment would. 

The decision was solely his to make and he wanted time to think it through.  As he lived a distance from Lake Anna the client wrote out a check for the earnest money deposit even though he was not sure which house he would select.  

It was all of 10 days from the time the check was written to the time I actually wrote the contract.  This did not mean we were ready to go.  It took another nine days for me to receive the contract back.  Of course it meant that I had to make date changes during this time. 

Buying a home was also not the most pressing issue in his life.  Sometimes as REALTORS® we forget that our clients are busy with their jobs and their personal lives.  We need to learn not to be anxious waiting for a response.  Sometimes days go by from the time someone expresses an interest in a property and the day they decide to really move forward.

Buying a home was also not the most pressing issue in this buyer's life.  Sometimes as REALTORS® we forget that our clients are busy with their jobs and their personal lives.  We need to learn not to be anxious waiting for a response.  Sometimes days go by from the time someone expresses an interest in a property and the day they decide to really move forward.

Naturally I had my fingers crossed the entire time.  Would he change his mind?  Would his pick go under contract before we delivered our offer? 

A gentle reminder now and again was about all that I was prepared to do. 

That is my style.  What is yours?

Now we are waiting to hear from the seller.

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Post Script:

We are ratified!!!

It took 18 days from the day I received the earnest money check and today, when it was finally ratified even though it only involved two counter offers.

Now our next task is to get this process moving along so that we make it to settlement.  Hopefully patience and the right mix of persistence will prevail. 

Let my title not be premature!

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If you or someone you know is thinking of buying or selling property at or near Lake Anna, Virginia please contact Kathleen "Kate" Elim, REALTOR®.

Kate lives at Lake Anna, knows Lake Anna, loves Lake Anna, and specializes in Lake Anna area real estate. 

Call Kate at 540-226-1964 or by e-mail at lakeanna.kate@gmail.com. Be sure to check Kate's Web sites  and blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/

Copyright © 2008 By Kathleen "Kate" Elim, All Rights Reserved. *Patience Prevails*.