Think like a symphony conductor who coordinates all the players for a successful transaction. The seller, buyer, other agents, inspectors, lenders, attorneys, and the closing officer must coordinate their roles to close the transaction. It all starts with the listing agent using effective communication skills with the seller. On the other hand, if you are the buyer’s agent, you must be accessible by text, phone, and email to quickly return their messages and calls. First-time homebuyers normally feel nervous but are afraid to annoy their agent. You can set the rules from the beginning when your buyers can call (not too late or early) while explaining the best methods to communicate with you.
Breakdowns in communications often occur during negotiations. Especially during the time from offer submission to acceptance. It is the listing agent’s job to receive your offer and review it before discussing the offer with the seller. This may take days. A counteroffer takes more time. Meanwhile, the buyer continues looking and may find a more suitable property or have buyer’s remorse. Communication problems arise when too many players get involved in a transaction. A party forgets to forward a message. Another party took the day off. Documents went missing.
Solving Communication Problems
Escrow companies often provide the parties with a checklist of required documents and tasks. This helps each party to fulfill their duties. They also ask for full contact information of all parties including the best contact methods and times for communicating. The purchase of a condo unit requires contact information for the condo association for a Certificate of Approval or a copy of the CC&Rs. Additionally, full contact information for all inspectors also helps. With full contact information of all parties contacting them to sign documents, attend meetings, or the closing becomes easier.
Managing Real Estate Transactions
While real estate transaction software exists to help manage them, they still require a coordinator to contact all players to remind them of tasks, signatures, reports, meetings, inspections, documents, and the closing. Most real estate agents don not have the time to manage transaction software and act as the coordinator between all essential parties.
RE/MAX Realty Professionals – The Results team – is ready to help you buy or sell your home! Visit www.calltheresultsteam.com. Or call Lesa Miller at 812-360-3863 and Jenivee Schoenheit at 317-258-0995.