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Trulia San A…, Home Buyer in San Antonio, TX

What is the most difficult part of the negotiation process as an agent?

Asked by Trulia San Antonio, San Antonio, TX Wed Apr 17, 2013

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Annette Lawrence’s answer
TU Greg and Dan.
Just to 'pile on' a little.
It dificult, when cuaght in the time warp, to maintian meaningful communications with your client.
Somehow, conveying 'nothing new has happened in 30 days" as progress is unsettling to those whose most expensive investment is on the line.

The most difficult part is keeping anxiety levels as low as possible while keeping everyone focused on the goal...and realizing this is a process with many players and too many with veto power and yes even rogue appraisres and inspectors, but that's getting ahead of the story..

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, Fl
727.420.4041
http:RealEstateMadeEZ.us
0 votes Thank Flag Link Thu Apr 18, 2013
Greg, you get an amen for that response.

For people used to regimented timelines deadlines in other businesses, it can be a shock when buying and selling real estate. It is sort of a "last in time" business for many of the third parties involved, such as mortgage brokers, surveyors, appraisers, title companies.

How long doe sit take to close a deal? As long as it takes. Realtors sometimes forget that we are used to hurdles, stumbling blocks and delays and that it can be traumatic for buyers and sellers who want it done now. Realtors have little control/input in speeding up a third party, other than to have a good relationship with ones that can carry out business in a timely manner.
1 vote Thank Flag Link Wed Apr 17, 2013
I can agree with all the points that my fellow associates have made, all of them are valid. But I think the most difficult part in any real estate negotiation, commercial or residential, is dealing with the waiting and convincing your client that it is totally normal in most cases for the process to take a LONG time, especially with distressed properties. Clients often believe that threatening to retract their offer is a way to get the other party to respond faster, but that is usually Not the case.

Unfortunately, you cannot transfer all your prior experiences through telepathy to your client like Mr. Spock on Star Trek. You have to use your fine tuned people skills to keep everything moving forward to the closing table and keep that egg warm until it hatches.

Gregory Touchstone
Keller Williams Realty
210-660-2834
gregory.touchstone@gmail.com
1 vote Thank Flag Link Wed Apr 17, 2013
Negotiation always has its challenges, but the difficulty level also depends on the situation and your clients. I would say negotiating on distressed properties is probably the hardest for a number of reasons...strict time frame, multiple parties, bank rules/systems, etc.
1 vote Thank Flag Link Wed Apr 17, 2013
I feel it is negotiating repairs. Actually, I tell both my buyers and sellers, the easy part is the contract, the hardest part is getting to the closing table!
1 vote Thank Flag Link Wed Apr 17, 2013
Each home/transaction has it's own challenges. No deal out there is the exact same as one before, even if it was the same home. I have had deals where it was negotiating repairs as something major came up on the inspection, others because we could need justify the sellers initial counter-offers.

Always remember, that your clients interest come first and you give them all the information. The clients I respect the most are the ones who can say "no" or willing to cancel a deal. Simply because they understand market conditions and when the deal that is on the table is not good enough to take. There is always another home just like the one you showed, getting into a financial bind or buying a home that is in poor condition can't be easily rectified.
0 votes Thank Flag Link Wed Dec 17, 2014
Closing, just closing! If you have the seller is to sell your self and close the deal getting the listing. With buyers the same thing, al the negotiation until you reach the closing. It
sound simple but it is very complex and a lot of fun!!
0 votes Thank Flag Link Wed Apr 17, 2013
The answer is, IT DEPENDS:

Are we doing Commercial or Residential Real Estate?

Are you on the Seller's Side ....or .....Buyer's Side?

Consider it is Residential:
Now, It Depends on the Local Market

Is it a Seller's Market, Buyer's Market, of Flat Market?

Consider a Seller's Market:
For Sellers--Negotiating Repairs after accepting a contract and the inspection is done.
For Buyers--Negotiating to Get Your Offer Accept FIRST!

Consider a Buyer's Makert:
For Sellers--Not Getting Low-ball Offers and closing on time.
For Buyers--Being able to walk away if the deal is no good AFTER the inspection period.

In any market, negotiations can also extend to CLOSING ON TIME, and making sure the Seller(s) will have their next home secured after closing.
0 votes Thank Flag Link Wed Apr 17, 2013
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