Hi Folks. As we all know, nothing can derail a real estate transaction faster than a home inspection that uncovers “serious inspection issues“.
Recently I had a home inspection done on one of my pending listings. It was an older property and I was a little bit nervous and hoping there wasn’t going to be any major issues to deal with.
Anyway, shortly after the inspection was completed I get the e-mail from the selling agent to let me know we have “serious inspection issues.” She also sent me a copy of the inspection report and the WDO (wood destroying organisms) report. Darn it!!! We have termites!, wood rot and major AC issues.
Well, being the good little Broker that I am, I pick up the phone and call my “peeps”, Wendal my HVAC guy, Dan the Termite Man and Khan my handyman and wood rot specialist. They all return my call within 5-10 minutes and stop what they are doing to go by the house and check it out. Within one hour, I have writen estimates from all three and time set aside on their schedules to get the repairs taken care of.
OK, now I’m prepared to call my Sellers. So I give them a call, explain the situation, go over the estimates and within 10 minutes I have authorization to move forward with the repairs.
Smartly, I had spent time during the listing presentation discussing inspections and repair issues and my Sellers were prepared. They understood that these were serious issues and would not just go away. So, they agreed to “let’s solve the problem and close the transaction.“
Now, a little over an hour after receiving the inspection report and e-mail from the selling agent, I give her a call. Folks, for some reason she seemed to be surprised that I called back so quickly, not to moan and groan about a problem, but to let her know the problem had been solved, repairs had been approved and scheduled and the signed repair addendum was on the way over from the Sellers. I think this REALTOR(R) will be happy to show and sell my listings in the future.
What could have been a deal breaker was not even a bump in the road. It was just a few calls to the right “peeps” and a well informed Seller. We were back on track.
Folks, it’s all about educating your customers/clients and having people that you have worked with for years who are willing to drop everything and help you out when you need them.
So, have you built and nurtured your business relationships(“peeps”)? Are you in a position to solve problems this quickly? Are your Customers/clients educated and well aware of issues that my arise during the contract period? I hope so. There’s a lot more involved with being a listing Broker…… than marketing.
Broker Bryant’s Tips
- Educate your Sellers at time of listing
- Get estimates for repairs so the seller can make an informed decision. It’s rarely as bad as they will imagine.
- Have “peeps” that you can depend on. Make sure they get paid quickly.
- Repairs issues will not just go away. The seller will pay one way or the other. Best to just do them and close the deal.
That’s it. What say you?
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