Are Your Contracts Reflecting Your Professionalism?

By
Real Estate Agent with Keller Williams Realty

Score 

First impressions are important, not only in how a home looks but how you as a professional present yourself.  It begins with prompt and informative communication with agents.

Then judgment day arrives when an offer is submitted.  This judgment is not rendered on the offer price but to how well the contract is written up and the preparation questions launched to the listing agent prior to the offer being submitted.

Fact gathering information for the offer should include:

  • Is the property still available and do you have any offers/activity that my client will need to know about when they are considering points for this offer.
  • How is the seller's name to be addressed.
  • Any specific needs that will need to be considered such as time frame to close, exclusions to the property, seller disclosure documents - do you have all reports and if the disclosure is older have there been any changes that might need to be addressed on the disclosure?
  • On the past listing history - if the home had been under contract and placed back on the market, obtain an explanation of why it terminated.  Were there any inspections done at that time and if so do you have copies of that report?
  • Is there anything that my clients will need to know or consider when making this offer.

The offer in itself becomes an instrument of where an opinion of your representation quality and level of experience is judged.  If there are areas left unchecked, addendums not attached and failed to include obvious forms such as a homeowner's association acknowledgment addendum, math is inconsistent (i.e. varied loan amounts).  If it becomes apparent that the buyer had made an offer on another home such as an inappropriate address reflected that is a turn off as well.  The wording in special provisions - seller to respond by 12:00 August 13, 2011.  Then there is no consequence - i.e. or buyer retains the right to void this offer.  Home must appraise for sales price.  That is very limiting - should be sales price or higher and a consequence or action stated next. 

Presenting the contract in an orderly manner also adds a touch of professionalism image.  Make sense order of the offer with a lender's letter or proof of funds if cash is important.  A note about the buyers to bring a personal touch and help parties emotionally connect so the process will not be just paper and numbers.

It is critical that as a buyer's agent that you do your part to help the listing agent feel confident that you can carry the buyer's side of the transaction well and have the ability to work through challenges such as repair negotiations.  By building a great reputation of the Realtor others love to work with will bring volumes to the acceptance of a contract and equate to the best terms for your client's favor.

It begins with first impressions which you have total control of on your part as a representative!  Be the 10+ rated Realtor for your client.

 

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Re-Blogged 4 times:

Re-Blogged By Re-Blogged At
  1. Mona Gersky 08/13/2011 02:26 AM
  2. Michael L. Brownstead 08/13/2011 02:36 AM
  3. Pacita Dimacali 08/13/2011 09:12 PM
  4. Anne M. Costello 08/13/2011 10:23 PM
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Ambassador
1,893,084
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Hi Connie. All those "mini" impressions in everything you do, add up to that larger grand impression I so agree.

Aug 12, 2011 04:54 AM #1
Rainmaker
40,739
Kent Neumann
Waterstone Mortgage- An Integrity based mortgage bank - Bend, OR
Mortgage Banker

As a lender of 17 years, it makes a big impression on how the contract is wriiten.  I constantly see a realtor pick a closing date that is a Sunday - look at the calendar when you write an offer.  Another huge mistake is including personal items and stating " furniture has no value" - really ??? Who believes that.  If that was true can I just have the personal property without buying the house?  We finance real estate not personal proeprty.  Finally undertand if you put it in the contract the lender sees the information and we need it resolved. So don't put buyer understands their is a plumbing problem and not expect the lender to have that fixed prior to close.   OKAY, my last venting.... never put "seller's choice" as the title company.  It si implied when you leave it blank or list a title compnay and the other agent can change it if they have a preference.   In Oregon is is always the sellers choice to don't state the obvious.

Aug 12, 2011 05:54 AM #2
Rainmaker
1,302,026
Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

hi Connie-I really liked your blog, I feel your spot on with that information. I feel most of my referrals/business are because my confidence show..., my confidence shows because I believe in what I do,and I get help them the best.... it's very easy for me because I know I'm going to help them in a professional way and truly give them an advantage by using me.

Aug 12, 2011 08:34 AM #3
Rainmaker
638,444
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Connie, clients and co-operating agents all appreciate a well-written contract presented in a timely and professional manner. It speaks to who we are and how well we handle our business.

Aug 12, 2011 10:59 AM #4
Rainmaker
611,252
Judith Parker
ProStead Realty - Charlotte, NC
CRS, GRI, CMRS, Charlotte, NC

Hi Connie...you are definitely a 10 plus agent  and your clients as well as cross sale agents are so lucky to work with you.,  Great post!

Aug 12, 2011 03:35 PM #5
Rainmaker
504,894
Teral McDowell
Referral Patners LLC - Murphy, TX

It's all good with me so long as it's a waltz and not the twist <smiling> love your blogs, Connie.

Aug 12, 2011 05:29 PM #6
Rainmaker
650,397
Barbara Hensley
RE/MAX Properties - Rockwall, TX
Homes for Sale in Rockwall County, Texas

Connie - as usual, this is a well written and presented post and YOUR professionalism clearly shows through.  Enjoy the weekend.

Aug 13, 2011 01:47 AM #7
Ambassador
643,759
Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Connie, this merits SUGGEST and a reblog.  Well written just as your contract probably are.

It is amazing how many sloppily handwritten with tons of blank lined Offers we've received.  Even worse is the "floating" the verbal Offer.  That shows less than a -10 level of professionalism and a complete lack of commitment from the Buyer OR agent.

Thanks for your presentation, it will be a pleasure to share this with others.

Aug 13, 2011 02:19 AM #8
Rainmaker
710,830
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

The offer that is presented so very well always generates a most favorable impression. When the agent emails the offer, it helps that he follow up with a phone call and offer to discuss the offer. It's sure to make the offer stand out, especially in a multiple offer situation.

I always send an email pointing out in bullet points, the offer highlights to summarize key points, and also include a short blurb about the buyer.

 

Aug 13, 2011 09:08 PM #9
Rainer
238,396
Anne M. Costello
Weidel Realtors - Yardley, PA

Professionalism is the key. Years ago I created my cover letter as a help for myself.  The salutation, introductory comments and the outline of everything included in the offer helped me pull it all together. I was surprised and pleased by the very positive reaction of the listing agents.That letter opened the door and helped me forge long lasting relationships. Great post!

Aug 13, 2011 09:40 PM #10
Ambassador
2,755,526
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Sadly, the trend to "fax your offer" creates a wall between listing and selling agents.  My experience is that far too many listing agents want to practice long distance contract management.  Some don't take phone calls or respond to e-mail timely. 

A lot is lost when real estate sales is conducted by scan/fax. 

Aug 14, 2011 12:10 AM #11
Rainer
37,846
Jose Rivas
Nottingham, MD

Great post Connie, I learned that my first year in the business, back when there were multiple offers in everyhouse, one listing agent told me the biggest reason my contract was acccepted is because it was complete, organize and neat.

Aug 14, 2011 02:26 AM #12
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Rainer
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Connie Goodrich

CRS ABR (McKinney Realtor)Texas
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