True or False? Representing a buyer brings the unknown into every real estate transaction. We’d like to say this is only partially true, but we know the facts because we face them every day. Real estate transactions bring surprises and require realtors who can transform, transition, or transfer every facet of the deal into a success for all parties. And, it’s not just about the people you represent; it’s about every player in the game. So, how do you successfully represent your buyer when negotiating something as costly as a new roof? Check out five essential tools for success.
First: Team Up With A Winning Roofing General Contractor
The first tool you’ll want to select is the right partner: experienced general contractor roofing services. Look for a reliable and highly-experienced roofing team to support you and your buyers in the negotiating process. According to roofing industry veterans, a reliable roofing contractor will not only offer fair and reasonable pricing in estimates and throughout project invoicing, but will also provide reasonable timelines for project completion–and then keep those deadlines.
In addition, look for a roofing contractor who offers excellent customer communication. If you struggle to get solid dates for inspections, answers to your buyer’s questions, or commitments to critical conversations, it’s time to say goodbye and obtain the services of an experienced roofing general contractor.
Second: If Your Buyer Is In the Contingency Period…
Second, if your buyer is already in a contract that contains a contingency period, make your request for a thorough inspection to be done immediately by an experienced roofing contractor and ensure that the inspection falls within that period. A contingency clause is often included in real estate contracts for precisely this critical type of inspection. If the roof of the residence under contract doesn’t have the strength to adequately protect and serve the home, it isn’t one that should be included in your buyer’s purchase offer.
The contingency period in a real estate contract offers a “no harm, no foul” window of some weeks for your buyer, with your assistance, to examine everything possible that could cost the buyer hefty sums after the purchase closes and the home changes ownership. If there are any questions about the roof, have the roof inspected immediately and report the findings to the buyer. Follow up with copies to the seller’s realtor. If repairs or roof replacement are required, assist with the negotiations to assign responsibility for the costs and ensure the agreement clause is inserted into the real estate contract.
Third: Dig In!
Sellers typically balk at spending any funds to replace a roof. They may also choose to ignore a request to pay for roof repairs. Selling a home comes with the desire to extract the maximum amount of available funds in order to buy the next home, or invest in the future in some other fashion. Therefore, a seller wants to retain as much of the cash paid on the sale of the home as possible. Paying for roof repairs or a roof replacement brings the seller nothing in return, other than a satisfied buyer. Roof repairs, although quite necessary, can be quite expensive.
For these reasons, the seller and realtor representing the seller may try to deflect you and your buyer away from the subject of the roof. There may be offers of other minor repairs on walkways, stairs, outdoor features, etc. in lieu of roofing repairs. We say, “Dig in!” A beautiful roof in excellent condition is a critical element of every home and the buyer will need to press for it, even if some opposition to the idea is presented. Stand firm on behalf of your buyer if the home needs roof repair or replacement.
Fourth: Consider the Future
Considering the future sounds slightly ominous, doesn’t it? Although purchasing a home can be a delightful experience for the buyer, the singular lens of the pleasurable present may blur the potential pitfalls of the future. A residence roof should ideally last twenty to thirty years. Based on this, the roof of a home that is around that age will probably be due for a new roof very soon, if not in the present. When representing a buyer, the desire is always to obtain the best outcomes possible; however, based upon an expert roof inspection, you may need to have the “what if” conversation with the buyer to ensure there is a full understanding of not only the expert’s opinion of the life of the roof, but the current condition and potential costs for repair or replacement.
Fifth: Build Your Circle
Every organization needs a circle of support to operate at peak efficiency. In the realtor’s world, this may include a home staging associate, carpet cleaners, notary, and others who are not only experienced, but over-the-top attentive to your clients. When you discover a highly-experienced roofing general contractor, add that valuable contact to your circle and offer your skillset, in kind. Valuable playing partners are hard to find; build your circle with intentionality and freely give the experience you can offer in return.
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