Page 11 - SellerGuide

Communication is key
In any real estate transaction, there are many different parties involved. Add in the necessity of coordinating multiple transactions, and things can get pretty complicated pretty quickly. For instance, consider a typical move up buyer, someone who is selling their home in order to purchase a new one. There might be as many as 20 people involved in such a process. And that’s once you’re in contract. Before you’ve accepted an offer, you may have even more people to deal with as you may be juggling multiple showings and potentially multiple offers. Once in contract you have opposing buying and sellers, their agents and the agent’s teams, multiple lending officers, escrow officers, inspectors, appraisers, etc for both transactions. Keeping everyone on the same page is crucial for things to run smoothly. For instance, if the buyer of a home has a hang up with their financing and need a few extra days to sort it out, it’s important for the seller to know this so they can be pre- pared to extend any necessary timeframes related to their other transaction. Suppose for example that a last minute obstacle delays the closing date by a few days. If the seller was anticipating using the funds from that transaction to support the purchase of another property, then all related parties need to understand what’s going on. Fortunately, for a seasoned real estate professional, handling this level of coordination and commu- nication is routine. Robust contact management software, project management and transactiona management software are just some of the tools of the trade for a real estate professional.
11