How do I earn my fee and what differentiates my service from others? My knowledge of the marketplace and my personalized marketing plan enable me to assure my sellers a higher number of potential buyers. Once their property is under contract, the true value of my service begins. Over 7 years of experience and many successful closings have armed me with the tools to deal with - and generally overcome - each and every problem that may arise.
I would like to share the checklist of potential problems that keeps me busy every day from contract to closing.
does not properly pre-qualify the buyer
wants property repaired or cleaned just prior to closing
raises rates, points, or costs
requires a reappraisal at the last minute
asks for information from the buyer in bits and pieces rather than getting the whole picture early in the transaction
won’t return phone calls
won’t return phone calls
transfers to another office or company
goes on vacation and leaves no one to manage the file
does not understand or lacks experience in real estate
has personality conflict with buyer and gets buyer upset over minor points
was not totally candid with the lender and with the agent
submits incorrect financial information to lender
suffers “buyer’s remorse
is picky regarding condition of home and makes unreasonable requests in the inspection report
has a change in the source of down payment
has family members who do not like the property
is resistant to executing paperwork in a timely manner
comes up short of money
finds another property that seems to be a better deal
does not like the fine print in the loan documents we receive three days before closing
is too picky
unnecessarily alarms the buyer
irritates and alienates the seller
makes errors in judgment
is unfamiliar with the area and misunderstands the market
cannot find comparable sales
delays report and does not meet required appraisal date in contract
places numerous conditions on property which must be met prior to closing
CLOSER / TITLE COMPANY
fails to notify agents of unsigned or unreturned documents so that the agents can cure the problems relating to same
lets principals leave town without getting all necessary signatures
does not find problems or liens until the last minute, thus delaying closing
is not flexible on small problems
fails to obtain information from beneficiaries, lien holders, insurance companies, or lenders far enough in advance of closing
How do I overcome, and usually avoid, these problems?
When I represent the seller, it is my job to carefully analyze any purchase offer and do all in my power to verify qualifications of the buyer before presenting the offer. It is also my job to point out weak areas in the contract.
My active involvement in our local Realtor association plus my years of experience in sales and the mortgage industry have established my reputation within the Realtor community as a professional with whom it is a pleasure doing business.
Generally, when I represent the seller, I do not have any opportunity to meet the buyer. However, by keeping in constant touch with the other agent, I can avoid many of the above problems, or I am able to alert my sellers to a potential problem quickly so that we do not lose valuable marketing time. At times, I may have to perform some of the duties that should normally be done by the co-operating agent.
Colorado law requires that the buyer shall always have a right to have the property inspected by an expert of his/her choosing. I help my seller analyze any requests that come from the buyer as a result of the inspection. It is my job to help the seller make a sound business decision after weighing the pros and cons of agreeing to requests from the buyer.
When representing the seller, I provide a full package for the appraiser. The package includes information that will assist the appraiser in determining the value of the property.
When I represent the seller I generally select the title company, unless the seller has a definite preference. Because most of my clients close with the same title company and the same closer, my clients and I receive above-average service.
The true measure of my service is my success rate in carrying a transaction from contract to closing.