There are so many “how-to” guides available to us: "How to Ace Calculus," "How to Be a Man," "How to Get People to Like You," even a book titled "How to Survive the World As We Know It."
If it is to be done, there is likely a guide on how to do it. And of course, there are more books than I can count about how to sell real estate. I can almost guarantee that the majority of buyers and sellers have not read any of the 800-plus available to us. Instead, just as you would likely hire an attorney to represent you in legal matters instead of visiting eHow.com for quick legal advice, buyers and sellers turn to real estate agents to provide guidance for all matters related to real estate.
Preparing your house for sale, getting the house on the market, making sure that it is "show ready" and then getting an offer can be challenging, frustrating, and exciting all at once. But that is the easy part. Getting through the rest is what will get you to the closing table.
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The first 10-14 days of a real estate transaction are the most critical and time consuming. This is the time frame for the home inspection and the purchase and sale agreement. Although the financing contingency is the most important factor, without moving successfully past the first two two contingencies, you don’t have a sale. Don’t be so anxious to put up the sale pending sign until after this part is done.
WHAT NOT TO DO:
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If you received an offer right away, don’t get overly confident about your house. If a buyer offered you your asking price, it is because he/she felt that you priced your home correctly for the market. It does not mean that he/she can’t imagine what would be of his/her life if he/she doesn’t move into your house. Be respectful of the buyer(s). If your house goes back on the market, the likelihood that you will receive your asking price again slims considerably.
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If the agreed upon sale price is considerably lower than what you had hoped and planned for, do not blame the buyer(s) and get angry with the process. What good does that do? Of course it is OK to be upset that the market may have done or what the market has done, but this is not the fault of your agent, the buyer or his/her agent.
Pay attention to the inspection requests. Are they reasonable? Would you, as the buyer, request the same? The purpose of the inspection is to uncover potential issues that are not clear to the layperson/average buyer. Everything has a solution, the more you don’t take it personally, the better.
Do not give ultimatums to your buyer. Who likes an ultimatum? Everyone is working toward the same goal. You want to sell your house, he/she obviously wants to buy it – it is why he/she made an offer in the first place. This is the time to work together toward a solution to whatever your issues are.
Buyers will get stuck on principle. Communication is key. The more your buyer knows about the house, the better. No surprises. Be honest.
Be very clear with your agent on how you want your voice heard. We are your sounding board and are here for you to vent, express your happiness, frustration, etc. This does not mean that every emotion you have expressed to your agent should be communicated to the buyer.
Make sure that your attorney understands the tone of the transaction. If it has been smooth and seamless thus far, this isn't the time to engage in a pissing contest. He/she represents you. This can be done without getting nasty.
Don’t be impossible. If your buyer would like access to the house, allow it. If he/she would like to invite his/her extended family to see the house prior to signing the purchase and sale agreement, allow it.
There are ways in which to proceed past the first two weeks of the transaction with equal dignity to both parties involved. Adhering to the advice above does not guarantee that your buyer will proceed to the purchase and sale agreement, but it does increase the likelihood.
Some transactions are impossible to salvage, regardless of how everyone behaves. Buyers have walked from a deal based on principle and because he/she doesn't believe that the seller is on the same page with regard to home inspection issues, time sensitive issues, or because they don't believe the seller places the same importance on issues as he/she does.
Buyers easily translate the seller's actions and attitudes during the transaction to how the house may or may not have been maintained. Don’t let your emotions get in the way of what could be a mutually successful transaction.
