The Dance That is a Real Estate Transaction

By
Real Estate Agent with Long and Foster REALTORS®, Gainesville, VA VA License # 0225089470

The Dance That is a Real Estate Transaction

Being a top Bristow Real Estate Agent, I get to be at the head of a lot of real estate transactions every year.  What I love about my job as a Bristow Real Estate Agent is that no two transactions are ever the same.  Yet, the frame work for a successful transaction remains the same in every deal.  Understanding the contract and how the deadlines work, setting reasonable expectations and most importantly, knowing that success in a deal lies in knowing that the deal must be a win for both parties.

Really, a real estate transaction is like a ballroom dance.  When you are in a transaction, you have someone on the other side that must stay in step with you. The saying, "It takes two to tango," comes to mind.  Sometimes you are waltzing.  Maybe then it transitions to a foxtrot.  Either way, your dance partner needs to properly lead and let you know when a change is about to happen and different direction is happening.

What got me thinking about the whole real estate transaction being like dancing is the expectation that what should have been a precision, choreographed move yesterday between myself and a buyer's agent was not.  The buyer's agent was sending me a notice about a low appraisal.  Nothing I hadn't been warned about, but the agent was a relative newbie and didn't understand that 1) notices must be signed by her client and 2) that you can't make unilateral statements like the sales price will be lowered in a notice and that will be it.  Reading the contract and how the low appraisal protocol goes is essential.  Expressing that in writing to the other side is what is expected.  

When our dance got off beat, and my toe was stepped on, I could have very easily thrown a tantrum and stopped
dancing for a minute.
 I didn't.  I picked up the phone and took a mistake by a newbie and made it a teachable moment.  Our dance took a sidebar, but we kept dancing and came out of it all the better.  We both understood what the next steps would be.  Now that agent will be a better dance partner in her next deal.

For agents, it is a matter of keeping the dance on track and knowing the steps.  For our clients, it is first getting a dance partner.  If you absolutely won't appreciate what your potential dance partner wants to do, well, that  dance isn't going to happen.  Maybe a seller is stuck at a price that every buyer in the market is rejecting.  Maybe a buyer is operating under the premise that they have the advantage when making offers and haven't yet understood that they are in a seller's market and there isn't much neogtiating leverage.

My first broker put real estate deals in perspective.  "It's not a win, if it's not a win for everyone."  I remember that every day and pass it to my clients.  There needs to exist the ability to compromise in a real estate transaction.  No compromise can often lead to no deal...or not getting to the dance.   

 

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Rainmaker
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JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

I hoping for a seamless slow dance one of these days.

Jul 03, 2018 12:23 PM #4
Rainmaker
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Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

Great analogy Chris Ann and so true that the agent on the other side needs to be in sync.  I don't like babysitting the other side of the transaction to make sure that deadlines are met and released along the way.  Thank you for posting.

Jul 03, 2018 01:57 PM #5
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Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417
United Real Estate - Addison, TX
Real Service. Real Results. Real Estate

Even though we're all dancing, I sometimes feel like my clients and I are doing the cha-cha and the other side is doing the twist.

Jul 03, 2018 02:31 PM #6
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Once you’ve mastered the dance, you can actually dance with the success! :)

Jul 03, 2018 02:56 PM #7
Rainmaker
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I’ve been there before and sometimes it can be a headache but totally worth it when it’s done well!

Jul 03, 2018 03:33 PM #8
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Chris Ann - clever title and a smart post.  This business is never quite the simple "two step ".

Jul 03, 2018 05:20 PM #9
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Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

Your last paragraph summarizes what I always say, "In a successful negotiation, everyone walks away happy."

Jul 03, 2018 05:23 PM #10
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Chris Ann- The transaction is indeed like a dance where both dancers have to be in sync with the same goal in mind. 

Jul 03, 2018 06:08 PM #11
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Jim Harper
Atlanta Communities Real Estate - Marietta, GA

Nice two step Chris Ann Cleland, happy Fourth!

Jul 03, 2018 07:01 PM #12
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

I can't dance in real life, but real estate?  I work off the same premise, if both sides aren't happy, (or at least equally unhappy), the odds of the deal making it to the closing table are not good.

Jul 03, 2018 07:24 PM #13
Rainmaker
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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

All right, now, all together…a one and a two and a win, win, win,…win, win, win…turn, and win…win…win.

 

Jul 03, 2018 08:59 PM #14
Rainmaker
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Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

My mother taught ballroom dancing, and I began ballroom dancing in the 8th grade.  I don't step on feet.

So, does that count?

Because sometimes I step on feet during home inspections...  the house is the house!

Jul 04, 2018 04:15 AM #15
Rainmaker
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Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee - 423-677-6677

Love the analogy.  I have been ballroom dancing for years, it's a great hobby.  I do it to get my mind off real estate, but I like the comparison.  (I hope this doesn't make me start thinking about real estate while I'm on the dance floor)!

Jul 04, 2018 06:13 AM #16
Rainmaker
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Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

It's a great analogy, Chris Ann.  I love what your first broker taught you: It's not a win, if it isn't a win for everyone.

Jul 04, 2018 09:28 AM #17
Rainmaker
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Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

ChrisAnn, I love the analogy used and glad this post got featured. Wishing you a happy and safe 4th of July.

Jul 04, 2018 01:13 PM #19
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Instead of asking for a listing ASK:     May I have this dance?

Jul 04, 2018 03:29 PM #20
Rainmaker
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Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Sometimes I can identify a tree just by the bark on the stump, but sometimes not.  So you can probably get me there.  That's what you meant, right?

Jul 05, 2018 04:00 AM #21
Rainmaker
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Kat Palmiotti
406-270-3667 (MT), 914-419-0270 (NY), Broker in NY with Grand Lux Realty and in MT with (coming soon!) - Kalispell, MT
The House Kat

And when we make the dancing look seamless, now that's a great transaction!

Jul 05, 2018 06:14 AM #22
Rainmaker
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Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good evening Chris Ann Cleland ,

I love the message your first broker gave you..."It's not a win, if it's not a win for everyone."

Jul 05, 2018 07:22 PM #23
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Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Good for you for providing a good lesson to a newbie and keeping "the dance" going.  You could have easily reacted negatively but you took the high road. Good for you!   I like what your broker espoused about a win.  Great teacher!

Jul 08, 2018 07:50 PM #24
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Chris Ann Cleland

Associate Broker, Bristow, VA
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