Great Expectations

I have had a few calls in the past few weeks from a very good friend who is relatively new to the business of Real Estate. She has been on fire of late doing something like 6 deals in the last 2 months. And this at a time when for the most part the business has been flat. Being relatively new to the trade has led her down paths she’s never been before, especially in dealing with clients for the first time. And in some cases first-time buyer clients. This business can be unpredictable and at times exceedingly crazy. Any realtors reading this are already smiling and nodding their heads. Like anything else though, high risk brings high rewards. That was the main reason I stayed with this for the last 20 years. It’s a great cure for people with career ADHD. You get to meet all different kinds of people. And, for the most part, they have all been a blessing. First-time buyers are a different breed. Some are super confident they know everything and all the agent is there to do is file paperwork. They listen to family, friends, complete strangers – almost anyone BUT their realtor. Others are scared to death. Rightfully so. This is the single biggest purchase they will ever make. Unless they decide to buy a sports team or apartment building (that’s a story for another day) Back to the story. My buddy told me her buyer wanted rebates for everything from a mold patch in the attic to a couple of broken GFI plugs. Heaven forbid what would have happened if they had found a faulty roof or leaky basement. Here’s the thing. I advise my people they are buying a USED house. There are bound to be things not right. As long as they are not money pit items ie. Aforementioned roof, basement, etc. If they are big ticket Items I suggest we tell the seller thanks but no thanks. Too many things could go sideways. One thing I call off limits is demanding price changes for every little thing. We negotiated a price that seemed to satisfy both buyer and seller so that has been taken care of. You can’t come back after the fact and demand a different price. Ever try that at Walmart? If so, how did that work out for you? If your intentions are good you will simply thank the seller for their time energy and patience and move on. If the seller decides to make amends price-wise that’s a whole different story. In many cases these differences can be overcome with some good negotiating and a whole heap of common sense. Some times that is not possible but most times it is. Let’s face it, a small mold clean-up and replacing 2 GFI plugs (50 bucks each) is hardly reason to scuttle a $700,000 deal. But you just never know. The key thing in all areas is you are looking out for your client’s best interests. That is your fiduciary duty and if you want to stick around in this business you need to uphold that at all times.