Why communication is essential in the real estate process
We’ve all heard the saying “no news is good news”, right? Well, not necessarily in the real estate process. Not hearing could be viewed as a smooth process, but it can also mean that critical deadlines and deadlines are missed.
There should be one person at the forefront of the entire escrow / transaction process, and typically that person should be your licensed real estate professional. Many companies will enlist the help of a licensed transaction coordinator and that is perfectly fine. And you thought it was the hard part of finding the perfect home!
The person working on your real estate record will be with you from the beginning of the process through to the housewarming party. They will assist you with any papers to sign, inspections that need to be ordered (your home inspection, a pest inspection, and a radon inspection are examples of what you might do) and any general questions you may have along the way.
There are deadlines that need to be met in relation to your loan process. The rate you set usually expires within a 30-45 day window. It is therefore crucial that you, the buyer, receive advice on what to expect from you during this time. Common examples are: Don’t quit your job and don’t buy a new Mercedes! Regardless, this should be explained to you.
When you sign a property purchase agreement, money is instantly spent. There is the serious deposit that the buyer leaves to show goodwill in purchasing the home. Money is instantly spent on home inspections and appraisals, etc. It is therefore imperative that someone controls the ship to ensure that all parties are protected. Whether you are a seller or a buyer, representation is key. You need someone to protect your interests, someone to work for you.
As a seller, you should expect the same from everyone who represents you. Getting your home in the market is a big commitment, and it is usually a stressful time. There will be demonstrations, people in and out of your home, and hopefully very timely offers. Full communication with your broker should be expected. Even if there is nothing new to report, expect a call saying there is nothing new to report. A good broker will ask you what your preferred method of communication is – email, phone, or in person – and will communicate with you as agreed. If you have a demonstration at your home, feedback is important. We rely on our fellow estate agents to let us know what their potential buyers think of the home. They will usually give opinions on the price, the staging of the house and other interests of these buyers.
Allowing a licensed professional to guide you through the process should help ease your fears. The process should be taken seriously. A good broker will have the communication skills necessary not only to understand your needs, but to get you comfortable with the entire process. FBN
Russ Lyon Sotheby’s International Realty in Flagstaff, 1750 S Woodlands Village Blvd. # 200. Contact a broker at 928-779-5966 or go to russlyon.com