It’s has become a tougher market out there for sellers and especially for buyers. Despite critically low inventory and very high interest rates, the demand is still there. Buyers and sellers must now think outside the box to create a win/win situation for all parties. This takes quite a lot of strategizing and planning to make this happen and to come to a successful result.
Everyone must be on the same page all the way through the process and communication becomes tantamount so the left hand will always know what the right hand is doing. Doesn’t that make sense? It sure does, as we are generally dealing with the most expensive asset that you will possess and eventually sell in your lifetime. Throwing caution to the wind is not advisable and being prudent and smart will become the mainstay in your mindset as you proceed with your purchase and sale.
We have succeeded in figuring out some very creative ways to enable a purchaser to buy and a seller to sell in this current high interest rate environment. If you truly want to sell and purchase, then a common ground strategy will have to be established in the beginning. Catering to the needs and wants of those involved in your transaction can be challenging and many times stressful if everyone doesn’t agree.
The way to avoid problems is to be very transparent and providing the required disclosure is of utmost importance, especially in today’s chaotic, stressful, scattered, unnerving, unforgiving, bellicose, argumentative and divisive atmosphere. Many times it can appear one or more people, e.g. buyers, sellers, home inspectors, lawyers etc., always want to take advantage of a situation and to be the winner. This isn’t a very smart path to consider and actually works against the grain of a win/win plan, causing animosity, distrust and a lost deal. There will never be a winner when co-operation is not shared among all, so everyone can become a winner. Most do want to be deal makers, but then again there are those who are deal breakers.
I just had a successful agreed and accepted deal on a home because the other two agents had buyers who hired home inspectors that scared them off on some items found during the inspection. This could have been potentially resolved if there was proper communication with the agents, buyers, inspectors and the seller. I blame their agents for this unfortunate result as they weren’t very good intermediaries since we are the conduits between the group of professionals and the other agents.
Maybe it was the lack of understanding of the issues and how to convey and explain the information to keep their potential deal from imploding. Our job is to be excellent listeners and at the same time perform as top notch negotiators. Knowing what to say and also how to say it becomes crucial and many times critical to whether a transaction can come to a happy ending for all involved.
Unfortunately, not everyone has a sufficient and above average command of the English language, let alone the proper understanding of how to negotiate, focus on the needs of their clients, while at the same time communicating with the potential seven to nine individual professionals who are involved in the sale. We always practice and convey to our agents my copyrighted saying S.A.C.E.D.S.: Show, Advise and Consult our clients, through our concerted Efforts, Disciplined actions and the Sacrifice of our valuable time. By learning, absorbing and implementing this simple concept and thought process we are able to execute and carry out our services in the most professional fashion.
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Philip A. Raices is the owner/Broker of Turn Key Real Estate at 3 Grace Ave Suite 180 in Great Neck. He has 40 years of experience in the Real Estate industry and has earned designations as a Graduate of the Realtor Institute (G.R.I.) and also as a Certified International Property Specialist (C.I.P.S) as well as the new “Green Industry” Certification for eco-friendly construction and upgrades. For a “FREE” 15-minute consultation, value analysis of your home, or to answer any of your questions or concerns he can be reached by cell: (516) 647-4289 or by email: [email protected] or via https://WWW.Li-RealEstate.Com