User67997_1_t Diana Turnbloom
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PrisonerYou know the type, every bit of information or update you give this team member, they blow it out of proportion looking for reasons for an issue to go south and cause a disaster.

 Listen, I believe in Karma. If you're the type with a vivid imagination and worry about issues that are simply not there, they will somehow develop along the way due to your negative vibe.

 The bottom line is team players can negotiate a contract to death and never come up with terms that protect the buyer or seller from every possible scenario.

 My broker hubby always says, "We have to remember as agents it's about what our clients want out of the transaction. The seller wants to sell and the buyer wants to buy. Our job is to negotiate and facilitate the goal of a successful transaction that's hopefully in the best interest of both the seller and buyer."

 I can't agree more! Several weeks ago I was working on a somewhat challenging transaction. The buyer and seller were not the problem but the other AGENT representing the buyer was.

 The agent was extremely diligent protecting his buyers--from what? I'm not sure! As a result, his addenda (and there were plenty of them) were convoluted with lots of legal terms that contradicted themselves. Being a somewhat neutral third party (Transaction Coordinator), I attempted to decipher, but it was simply not clear!

 Now I don't claim to be a genius on contract law but I do know a clearly written addendum when I see one! And isn't that what it's about? That all parties, especially the buyer and seller are able to understand the terms?

 A half hour plus several questions later, I finally got the intent of the addendum. Unfortunately, by using impressive legal language and lengthy explanations, the agent created a huge potential problem with termite repairs, thus creating more harm than good for his clients!

 Now my hubby Steve and I are not in the business of taking prisoners along the way, and this agent was SO difficult to work with, we let the slip go and worked around it so that his clients wouldn't get burned!

 My point to this story is that the more you mess around with the terms of any contract and try to cover every conceivable possibility to protect your client, the more you leave your client open to the other 1000's of possibilities you did not consider-not to mention putting the other agent and client on the defensive!

 Keep the contract and terms clear. Focus on the things you can control and let the pieces fall in place as you proceed through the contingency and inspection timeframes. Although there are an infinite number of potential scenarios, we must go with the flow of client's wants and needs and address challenges as they arise.  

 

28 Comments on Do you Take Prisoners Along the Way?

I messed up one time and since then I have learned to put things in writing.  You can never rely on someone's word.  That was a costly experience.

09/03/2008 12:59 PM by Angelia Garcia (Francesca Realty.LLC)


Good points. Sounds like the other agent representing the buyer might have also had a need to impress others with his mastery of the legal language.

09/03/2008 04:41 PM by Kevin McGourty - Moving Help - nationwide (MovingHelp.com)


Good reminder. I had an experience a long time ago as a property manager where a contract was reworded over and over so that by the end it looked like the landlord would be responsible for all of the utilities (not the intent). Sometimes it's best to just let things remain simple and not overdo the protections.

09/03/2008 04:42 PM by January Financial


Great advice. Leave things simple and change them as your client asks you for changes.

09/03/2008 04:44 PM by Camarillo CA Real Estate Agent/ Mana Tulberg (Beach View Real Estate)


Great post, Diana!

I'm a New Home Construction Salesperson and we LOVE our Realtor community, however;  sometimes a Realtor may need to step back, let the Salesperson do their job, and not muddy the water.

For some Realtors this is a bit difficult to do and like Kevin mentioned, they may feel the need to impress their clients with over the top language to feel more of a part of the transaction.

 

09/03/2008 04:51 PM by Paul Ochtrup (William Ryan Homes) (William Ryan Homes of Wisconsin, Inc.)


I wonder what would make somebody increase their liability by attempting to practice law. An attorney could have a field day with them.  Simple, easy to understand language that anyone can understand and that reaches the intended result. 

At our yearly legal update program that the Michigan Association puts on, we have an opportunity to purchase a printed book of clauses and they include a CD that you can use to copy them on transactions at a very reasonable price...$35.00.  It is updated periodically so as the business changes, so do some of the clauses.

May be a good thing to suggest of the Association they belong to!

09/03/2008 05:19 PM by Lorena McMullen - Serving SE Michigan (Remerica United Realty)


Angelia, I could not agree with you more! I hate "gentleman's handshake" agreements. We are fortunate that the California Association of Realtor's purchase agreement contract covers a lot of stuff. Thanks for your comment, kiddo!

09/03/2008 05:32 PM by Diana Turnbloom (Escrowcoord.com)


One of my pet peeves in working with other Realtors is when they speak for the seller or buyer without even conferring with them. 

09/03/2008 05:34 PM by Diane Bell, Hilton Head Real Estate, Bluffton (Charter 1 Real Estate, Hilton Head, Bluffton, SC)


Carey! Now that's what I'm talkin' about! Keep it simple. Here's another trick. DISCUSS prior to writing what you plan on putting on the addendum with the other agent, especially if it's complicated so you both are in somewhat agreement with the terms. Prevents a lot of dumb dumb countering! Thanks for your comment!

09/03/2008 05:35 PM by Diana Turnbloom (Escrowcoord.com)


Kevin! Hysterical point! Sometimes I baffle myself with my own bull#$$% and talk myself right out of the loop! You know what I always say, "What Would Judge Judy Say?" Thanks for your comment!

09/03/2008 05:37 PM by Diana Turnbloom (Escrowcoord.com)


Russ, Ah yes the coveted addendum. Only the super intelligent are allowed to understand the incredible knowledge the great author of the piece had to share! Thanks for your comment!

09/03/2008 05:41 PM by Diana Turnbloom (Escrowcoord.com)


Mana! KISS baby. You are so right! Thanks for your comment!

09/03/2008 05:41 PM by Diana Turnbloom (Escrowcoord.com)


Paul-In this case, the agent had taken some sort of commercial law class which apparently opened up a whole can of worms in his mind. As we all know, residential real estate is not so "cut throat." And your so right, some agents believe they are doing a good job if they argue and try to negotiate every point. To them it's not about win-win. It's about win-lose. Now THAT'S taking prisoners! Thanks for your comment!

09/03/2008 05:45 PM by Diana Turnbloom (Escrowcoord.com)


OK Lorena, Obviously there's some sort of smart pill that's distributed around Michigan. Can I have some too? ABSOLUTELY BRILLIANT IDEA! It's like Clauses for Dummies. I'm keeping that idea in the back of my head! Thanks for your comment.

09/03/2008 05:49 PM by Diana Turnbloom (Escrowcoord.com)


Diane! Yeah, yeah! And you can tell because there is no way a buyer or seller could even think up in a million years the terms the agent is giving you. I made a similar mistake many years ago, assuming I knew what our client wanted. It wasn't the case AT ALL! Now, I always ask! Thanks for your comment!

09/03/2008 05:52 PM by Diana Turnbloom (Escrowcoord.com)


I agree with keep it simple.  I had a similiar contract where I think the (new) agent was trying to impress her buyer with the language.  If she had just written it the way she explained it to me, it would have saved DAYS!

09/03/2008 06:38 PM by Connie Watts - Omaha Homes for Sale / Offutt AFB Homes, Omaha NE (Prudential Ambassador Real Estate)


The famous legal ego got in the way of direct communication....ah yes...and I bet you can hardly wait to work with him again...if only agents would begin to understand the damage they do beyond that transaction when they attempt to make things unnecessarily complicated.

09/03/2008 08:21 PM by Sally & David Hanson Realtors WI Residential-Commercial-Short Sale (First Weber Group)


I've had one of those recently, it was a doozer by an experienced agent, she kept trying to deal with the addendum and I said, "listen, let's come to terms on price" first, then we'll work out all this other nit picken stuff. She finally got it and we are closing the 26th.

09/04/2008 05:06 AM by Missy Caulk-Ann Arbor- Realtor(R)- Ann Arbor Real Estate (Keller Williams-Ann Arbor)


"The seller wants to sell and the buyer wants to buy."

And we need to assist our clients while removing our own ego form the transaction. Thanks you for the relevant post!

09/04/2008 09:16 AM by Russell Lewis, Broker,CLHMS,GRI (AvenueOne Properties, Inc.)


Clear and simple is the way it should be and everyone wins.

09/04/2008 09:46 AM by Richard Lecinski (Long Realty Company)


Diana - Yes, sometimes this can get out of hand and time consuming. Even worse is some offices have a looooong addendum that they always copy and paste to all contracts, drives me NUTS!

09/04/2008 09:50 AM by Get Us A Home Realty - Frank & Jodi Real Estate Brokers


Connie! You hit the nail on the head. I wonder if some agents have a belief system that it should take endless days and counters to negotiate? A really great contract that benefits both buyer and seller CAN be put together quickly. Just because a deal goes smoothly does NOT mean we as agents are not doing our job! Thanks for the comment!

09/04/2008 10:26 AM by Diana Turnbloom (Escrowcoord.com)


Sally and David! Good point! A great team must have open and direct communication. It solves a mulitude of problems up front before killing trees excessively with addenda, AND it prevents the shock factor from the recipient of the mumbo jumbo! Thanks for your comment!

09/04/2008 10:30 AM by Diana Turnbloom (Escrowcoord.com)


Mornin' Missy! I'm surprised an experienced agent would have the energy to negotiate like this! Your right, it's a waste of time to argue finer points of the contract if you haven't come to an agreement with the biggie-THE PRICE! Thanks for your comment!

09/04/2008 10:33 AM by Diana Turnbloom (Escrowcoord.com)


Russell! A lesson all of us should receive when we first get our license. A license to facilitate, not "ego-tiate"! Thanks for your comment!

09/04/2008 10:35 AM by Diana Turnbloom (Escrowcoord.com)


Richard, My Man! You are VERY smart. It IS about win-win! Why do some people feel the need to take prisoners along the way? With a willing buyer and seller, compromise is the key to closing the transaction. Thanks for your comment!

09/04/2008 10:37 AM by Diana Turnbloom (Escrowcoord.com)


Frank and Jodi, Ooo, do not get me started on broker addenda that were obviously written up by an attorney (no offense real estate attorneys!) who has no idea what we deal with and how we work in real estate land. There have been times where we advise our client not to sign, because it puts them in a vulnerable position. Hey, I may be dumb, but I'm not stupid! Thanks for our comment!

09/04/2008 10:41 AM by Diana Turnbloom (Escrowcoord.com)


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Real Estate Trainer: Diana Turnbloom (Escrowcoord.com)
Diana Turnbloom
Pleasant Hill, CA
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