Never Give Up!!!!

Some realtors say that there are no simple real estate transactions. In my 20 years in this field, I have only had one simple sale, so I tend to agree with this sentiment. That simple real estate deal was the sale of a condo where I was the listing agent. My client was offered a no-haggle, fair price, cash offer with the buyer paying closing costs and no contingencies for financing or appraisal.

The idea of a simple real estate deal has proven to be a bit of a unicorn. From my professional experience, the overwhelming majority of real estate transactions are complicated by parties who seem to strive toward bringing chaos, drama and confusion to the conveyance of real property. For example, I have worked through deals where the buyers’ agent is in cahoots with the mortgage brokers, changing the client’s financing from Conventional to FHA (when they knew that their client was not credit worthy) in order to get a jumpstart in the queue of a competitive market. In doing so, the agent is not acting in the best interest of their buyer client. In a recent deal, we had a willing and able buyer with an accepted offer, but the closing was significantly compromised because the property did not initially appraise for the offer price.

A good realtor, on either side of the deal, must have a strong relationship with their client and guide them to a competitive position that is best for that client. If warranted, at any time the realtor should be willing to advise their client to cancel the transaction and walk away from the deal, regardless of the market risk or how it looks.