Although, there are well – over, one – million real estate agents in the United States, only a small fraction of them, consistently, demonstrate the combination of empathy, integrity, attitude, and skills, which make them stand – out, from the crowd! After, more than 15 years, as a Real Estate Licensed Salesperson, in the State of New York, I have met, some of the best, as well as, too many, of the others. One is usually, represented, best, when, they choose an individual, who will serve and represent their best interests (whether, they are buying, or selling), know, and understand, when they need to interfere, and, when they should, get out of the way! Since all of these people, are not. created equal, in terms of their valuw, this article will attempt to, briefly, consider, examine, review, and discuss, 5 challenges, which need the highest, quality representation, in order to achieve the most desirable results.
1. REO/ Asset Company/ Foreclosure transactions: For a variety of reasons, banks, lenders, finance companies/ mortgage companies, etc, decide to foreclose, on a particular home, and/ or, property. The specifics of how this proceeds, specific protections and guidelines, etc, often, differ, from state, to state, however. While, if/ when, one proceeds, carefully, and uses professionals, prepared for the intricacies of this type of transaction, etc, there is often a change, for a terrific, buying – opportunity, but, the prospective buyer, must be informed, and fully understand, the risks, differences, etc, of doing so, as well as the opportunities! Although, some agents will be unprepared, and, thus, these procedural changes, etc, will scare and concern them, a truly, quality agent, proves, and demonstrates his value, by working, cooperatively, and effectively, with a team, which should include, the correct attorney, and mortgage banker, etc.
2. Demanding sellers: Sometimes, a desirable – listing, becomes stressful, because the seller is demanding, in one, of several ways. It might be, he doesn’t provide enough access for showings, or, insists upon an unrealistic price (and, is inflexible), or, refuses to listen to advice, about essential items, such as staging – tips/ ideas, curb appeal, etc. It might also, become challenging, because, for example, the home is co – owned by a divorced/ divorcing couple, an asset company, etc!
3. Unrealistic buyers: Some buyers, seem to be looking for a home, which they, either, can’t afford, or doesn’t, generally, exist! It is essential, for the agent, to pre – qualify his customers/ clients, in advance, so the search, can be useful, and viable. It’s also important to have a discussion, up – front, to clarify, what one seeks, and the priorities (differences, between their wish – list, and must – haves)! Effective real estate professionals, have the confidence, to tell clients, what they need to know, and, not, just, what they want to hear, so everyone, proceeds, efficiently, on the same – page!
4. Attorneys, who get, in the way: The right, real estate attorney, is invaluable, but, the wrong one, may, blow – the – deal, by getting in the way! One must stress, with his clients, the importance of using a lawyer, who specializes, in real estate, and understands the possibilities, nuances, etc! However, there is always, the possibility, the other attorney, causes additional, unnecessary challenges, and, this is another reason, it’s so important, for your client, to select the right person, as his lawyer!
5. Financing challenges: Before, looking, a buyer’s agent, should require, his client, be, pre – qualified, at a minimum, or, even – better, pre – approved! These financing challenges, include, credit issues, capital reserves, downpayments, specific lending terms, etc. While, an agent, should not exceed his personal expertise, he should act, as a source, to locate, some of the necessary ingredients, etc, to make the overall experience, a more positive one!
Since, all agents are not equal, it makes sense, to choose, someone, who possesses the best combination of assets, etc, which might make, a difference, for the better! This transaction period, is often, stressful, but hiring the right person, might make, all the differences, in the world!