The Right Way to Conduct a Real Estate Transaction

Things can get on your nerves when purchasing property, be it a home or a building for commercial purpose. The buyer is at times afraid or too emotional to tackle cumbersome paper work and other aspects of a transaction. Enter Buyer’s agent; it is your job to make things go as smooth as possible for both the parties involved. mean the difference between a smooth transaction and a traumatizing one. Here are some tips on how to make the real estate transaction process as smooth as possible for you and your buyer clients.

Deciding right

As a buyer’s agent, you need to help your client decide the best possible piece of real estate for them. They might be new to the whole buying thing so it is up to you to lead them to the right market. This will not only help your reputation but will also make your clients happy which is a great deed.

Making an offer

Real estate is an art. It involves negotiations and sizing the opportunity right. There needs to be a balance between price, time frame and ease. The most important factors when coming up with an offer are:

• Comparisons
• location
• cost
• future prospects
• Timelines
• Inspections due
• Financing
• Property insurance
• Repairs

Once you are sure there must be no delay in submitting the paperwork to the concerned party

Fighting Completion

They say, “You have to learn to swim with the sharks without being eaten alive”. Competing is part and parcel of every business. It helps allot a certain value to whatever is on the market. As a buyer’s agent, you need to keep an eye on your competition and match their offers. When it comes to competition you should look for leverage. This can be done by looking at the price you can offer in comparison to their and the deadlines involved, you can also get help from your connections in the market.
Hitting straight at the binding contract and making an offer at the right time can reduce your time spent it fending off competitors..

Counter offers

If the initial offer you made was not accepted by the seller (for whatever reason), you need to listen to their counter offers. Make sure you prepare the buyers for this possibility. They may be surprised by a counter offer. However, at this point they can choose to:

• Accept the counter offer
• Counter the counter offer
• Reject the counter offer
• walk away from the property

One can get perplexed by this entire process but if it’s for the right deal you need to stick to it and see it follow through.

The final steps

Job well done! The offers you made were accepted; at this point you get this under a contract. Keep the buyers in check. Now you must work to keep the following time-sensitive tasks in order:

• finance
• Inspections due
• Property insurance check
• Appraisal
• Closing procedures

Navigating the choppy waters of a real estate purchase is not easy. There are many important factors to consider, deadlines to meet, and terms to negotiate. A good licensee is one who is knowledgeable and competent, an effective communicator and negotiator, and one with a full understanding of how to conduct a real estate