Real estate transactions can be exciting and stressful as your clients make one of their life’s most significant financial decisions. As their real estate agent, it is your responsibility to ensure that their transaction remains happy. There are a few ways everything can fall into disaster, and today we’ll go over a few of them, and how you can avoid those disasters!
Tip 1: Have a blank Contract Form during your first meeting
When you first meet with a potential client, seller, or buyer, having a blank copy of your contract form with you is best. Whether it’s the GAR (Georgia Association of Realtors) contract form, the RE forms contract, or the HUD contract, it is essential to have a blank contract on hand. It is also important to make sure that you write across it, “Sample”, “Training.” or something similar. The purpose of this is not to hand the public a blank contract to fill in the blanks that they may use.
Sending your potential clients a copy of the purchase and sale agreement along with the exhibits and amendments that are most often used is another excellent idea. Ask them to go over this document right away, before emotions kick in and before there’s an offer on the table. This way, it’s a much calmer time to make a decision regarding purchasing or selling a home.
Tip 2: Do not send contracts immediately through E-Sign software programs.
When you get an offer or a counteroffer, or any kind of documentation that you need your client or customer to sign, do not send it immediately through an e-sign software program. Whether it’s Remind Docs Plus on FMLS, Authenticity through Georgia MLS, Dotloop, or DocuSign, it’s best to fill in whatever information you want to have your client sign. Download it to your computer and save it as a PDF. Then, send the client just the PDF form, not through the e-sign programming.
Call your client on the phone or meet with them in person and go over that document with the terms filled in. Make sure they understand what they’re agreeing to and the consequences of any actions that will occur before they have a chance to sign it. With a lot of these e-sign software programs, the consumer can easily skip through the document and sign it without reading it. Sending the document as a PDF first and going over it with them ensures that they fully understand what they’re signing.
Tip 3: Disclose everything.
Disclosure is key when it comes to a real estate transaction. As a real estate agent, it’s your responsibility to disclose everything to your client, whether it’s something small or significant. Don’t assume that something isn’t important or that your client won’t care. Disclose everything, and your client will appreciate your honesty.
Tip 4: Set realistic expectations.
It’s important that you set realistic expectations with your clients from the beginning. Don’t make promises you can’t keep, and don’t sugarcoat the situation. If there are potential issues with the property, let them know. If it’s going to take a while to find the right property, tell them that upfront. By setting realistic expectations, your clients will have a better understanding of the process and will be less likely to become disappointed or frustrated.
Tip 5: Communicate clearly and regularly.
Communication is key in any relationship, and the relationship between a real estate agent and a client is no exception! Clear and regular communication is essential to prevent misunderstandings and to keep your transaction on track. Be professional at all times. Real estate transactions can be emotional, but it’s important to remain professional throughout the process. Don’t take things personally! Make sure your clients know how to reach you and that you respond promptly to any inquiries or concerns they may have.
Tip 6: Work with a qualified and experienced real estate attorney.
While it may be tempting to handle everything yourself, having an attorney on your side can provide you with invaluable legal advice and support throughout the transaction. From reviewing contracts and agreements to helping you navigate any legal disputes that may arise, a good real estate attorney can be an essential part of ensuring a successful and stress-free transaction.
There are a few things you can do to prevent disaster when it comes to your real estate transactions. By setting clear expectations, communicating effectively, and working with qualified professionals, you can help ensure that your clients have a positive experience and come away satisfied with the outcome. Whether you are a seasoned real estate professional or just starting out, take these tips to heart and make your next transaction a success!
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