The Catchword(s) of the Week is COMMON SENSE!

By
Real Estate Agent with Diversified RCS Inc; http://www.ManhattanPropertiesGroup.com

As we head into the weekend, the Catchword(s) of the week is COMMON SENSE, which is defined one way by Merriam-Webster as "sound and prudent judgment based on a simple perception of the situation or facts."

We all know that common sense can be affected in real estate transactions that have become emotionally-charged between Buyer and Sellers (and their respective agents, attorneys, etc.) This fact was highlighted in a blog I read this week, where a Buyer (and his attorney) used the term "one night-stand" that was written into the contract to claim an interpretation as something other than one commonly known piece of bedroom furniture (refer to http://activerain.com/blogsview/3268286/did-your-agents-bad-grammar-cause-you-to-get-screwed-at-closing).

Remember that, as Agents, we need to remain emotionally detached enough to help our clients maintain common sense when they might otherwise be embroiled in an emotionally charged situation like a property closing. As a third party who is not emotionally, financially or otherwise attached to the specific property involved, we have an advantage that will help us maintain some common sense when the situation becomes emotionally charged. We need to tap into that advantage (or ask another team member) to help our clients navigate the emotionally-charged waters of closing.

To help us all with maintaining COMMON SENSE during a transaction, here are some thoughts to consider:

  • Is the proposed decision a part of, or a product of, an emotionally-charged situation?
  • Before a decision is made, does it make sense to have a "cooling off period"?
  • Are you emotionally detached enough to help your emotionally-charged client maintain some common sense regarding the proposed decision? If not, is there someone you can call on who is emotionally detached enough to help you and your emotionally-charged client maintain some common sense regarding the proposed decision?

Use the above questions to trigger your thoughts for similar questions that are specifically applicable to your client's situation, and then use those thoughts to prompt you to remember to help your client maintain some COMMON SENSE in the emotionally-charged situation!

Posted by

That's all for now.

 

Stay passionate,

Kevin

 

Kevin Sembrat

Real Estate Agent

212-714-1027

Diversified Residential and Commercial Services Inc.

Licensed Real Estate Broker and Mortgage Broker

Located adjacent New York's Penn Station in Midtown Manhattan, New York City.

www.ManhattanPropertiesGroup.com – Manhattan’s Home for Manhattan’s Homes™
“Specializing in the rental, sale and financing of luxury residential and commercial
properties located in Manhattan, New York.”

 

Comments (3)

Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Your blog reminds me a situation I was in last summer. The buyer walked from a contract and we had 2K earnest money at stake. The seller had every right to the EM. The other agent became very emotionally involved in the whole situation. I quit answering my phone and used email communication only. I also gently reminder the buyer's agent that we are agents of our clients and are just doing as they direct. In my opinion, it all worked out fairly, but that agent hasn't called to show any of my listings in a year. I have to wonder why that is. I know she's busy. But that was a situation where common sense and level headedness came very much into play.

May 19, 2012 07:25 AM
Kevin Sembrat
Diversified RCS Inc; http://www.ManhattanPropertiesGroup.com - Manhattan, NY

Hi Debbie,

Great comment -- I hear you, I hear you! Your story highlights why I wanted to blog about common sense. Thanks.

Kevin

May 19, 2012 09:27 AM
Brian DeYoung
also affiliated with Howard Hanna - Ithaca, NY
The Realtor with personal investment background

Kevin, enjoyed your blog, and reading your profile.

I think chess and Real Estate is a natural combination. Not required, but interesting.

Do you still blog elsewhere?

Oct 19, 2013 12:49 AM