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12 Things I've Learned in 25 Years of Real Estate Posted On :Aug 15-2011

Since I have had nearly 1,000 escrows, a new agent recently asked me what key lessons I could share to help her successfully counsel both buyers and sellers. Although answering that could lead to a book, here are a dozen ideas I suggested:

 

  • Keep the big picture in mind, and remember what you are attempting to do. People often get distracted by peripheral or smaller parts of a situation.
  • Have an intent to be fair-minded and honest in negotiations, disclosures, etc. I have often observed that when one party tries to take advantage of the other, it somehow backfires.
  • Take a long view. Consider whether this will matter in a year or two. Don’t hold negative thoughts toward anyone involved.
  • Over prepare then go with the flow. If things don’t seem to work out at first, there is usually a good reason.
  • Be nice, kind and civil. As long as the agent involved is being watchful, a generous attitude usually pays off to all parties.
  • Agree to disagree on some points wherever necessary, whilc being careful to compromise where it may cost little.
  • Take a deep breath if tempted to react or get upset.
  • Get rid of unimportant stuff – such as clutter in the home or small concerns as a buyer.
  • Don’t be too picky, either as a buyer or seller.
  • Keep on negotiating until an agreement is reached, regardless of how long it may take or how much back-and-forth is required.
  • Believe in miracles – sometimes a seller will accept a lower price if other terms and conditions are met. And sometimes a buyer will pay the price if other terms that are important to them are met.
  • Trust that life usually works intelligently - if it is meant to be, it usually will be.
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