LACK OF COMMUNICATION

LACK OF COMMUNICATION

Check out the definition of the word communication and you’ll get this. “The imparting or exchanging of information and news”. In other words, it’s all about keeping the parties informed. So how does that affect what we do in Real Estate? Now there’s a question. Lack of communication is one of the major forces that lead to deals crashing and in many cases the ensuing lawsuits. And the sick part is that this is so avoidable, especially given that we now live in a totally information sharing society. Text, e-mail, phone (old school I know), post on social media. More than ever before the ease with which you can share info is the easiest it has ever been. So why do we NOT follow through? Combination of laziness, stupidity and just a lack of caring. Follow up these days for people in business can be sketchy at best. It goes straight across many lines of business. I had a rule when I was at the CFL that when a reporter or any kind of journalist called in for info that those calls needed to be returned within 15 minutes at the most. There was a solid understanding that these people were working to a deadline and that needed to be respected. Same holds true in Real Estate. In most cases we ARE working to a deadline. Conditions need to be met, closing date, financial obligations – you name it, there is always a date attached. I have had the misfortune of dealing with some characters that don’t sense that urgency to get things done ASAP and that can be frustrating. Especially if you are the person in the middle of the transaction, answering to both your buyer and the seller agent. They will only take “I have a call in” as an excuse for so long and then something’s gotta give. It’s really pretty easy if you put your mind to it. If I include a condition on finance or inspection and it’s a five business day term, I try to get it looked after in the first 2 days, because you never know if something else is going to crop up as a road block. I’ve always had issues with timing. Ask anyone who knows me (Dennis?) If I say I will pick you up at 1 well then I will be there at 12:45. Just how I am wired. But if I can’t, then the first thing I will do is call and say I will be a little late. Years ago I was working on a deal in Caesarea with a buyer from Oakville. Buyer said no probs I’m dealing with my bank. The same bank he was a customer with for over 50 years. So he was sure the mortgage would be a slam dunk. Except the person he was dealing with took an extended long weekend vacation and didn’t share the file or tell anyone. When he came back the request was denied. So we were in a huge bind to close the deal. But my buyer pivoted and found a place that would lend him the money. All of the stress involved could have been avoided if there was some communication. It’s many times the most overlooked quality and it shouldn’t be.