Are You All In?

If you believe your real estate business is built on relationships…

Then make building them your BUSINESS!

Are you “ALL IN” in your business and with each and every client you work with? If not you need to ask yourself these questions:

1.     Why do I choose to be Part-Time in my business?

2.     How is not being “all in” affecting my lifestyle?

3.     What will it take for me to be “all in”?

4.     Do your client perceive you as “all in” ?...If not what do you thing is their perception of you?

5.     What do you feel is a “justifiable expectation” your clients should have of you as their REALTOR?

6.     Are your clients getting their monies worth when you are not “all in”?

BETTING “ALL IN”

 

Think of your talents, skills, energy, and knowledge as your “poker chips”….and your situation with each client you work with is your hand of cards…the hand you are dealt if you will. 

Are you just pushing in a few chips every hand… going through the motions….just getting by?... Or are you giving all you have by going all in to each and every hand you are dealt?

WHAT IS BEING “ALL IN”?

1.     Being consistent with your prospecting activities and communication with your clients

2.     Building relationships based on trust and care

3.     Becoming an attentive listener… but also paying attention to what is not being said as well. Tip: Ask your clients what they didn’t like about their last real estate transaction… people are more likely to be open and honest about the things which caused them stress than they are the things which went smoothly.

4.     Be respectful of others time.

5.     Stay Motivated…. And learn to recognize when you are not.

6.     Manage your emotions during the transaction… become the calming force.

7.     Find balance in your personal life… take time for yourself, family, and friends.

8.     Celebrate your successes!

Productivity is never by accident… It is most always the combined result of commitment to excellence, business planning, and focused effort.  Or in other words… Success doesn’t “just happen”… you must plan for it.

Make your real estate business an awesome place to work… remember YOU are the boss of YOU!

Eddie Brown

www.ICU-Coaching.com

Does a Change in Loan Conditions Change a Seller's Obligations?

QUESTION:  I represent a wealthy buyer who is under contract to purchase a home. In paragraph
5(a) of the Offer to Purchase and Contract (Standard Form 2-T), the buyer checked the box representing that he did not have to obtain a new loan in order to purchase the property. In paragraph 8(i), the parties agreed that seller would pay $1,500.00 toward buyer's expenses at Settlement. Prior to closing, my buyer client decided to finance a portion of the purchase price. When the seller found that out, he notified us that he would not honor his agreement to pay $1,500.00 of the buyer's expenses. Does the buyer's change of heart regarding financing relieve seller from any of his contractual obligations?

ANSWER:  No. The buyer's decision to obtain financing despite his representation that a loan was not required is not a breach of contract and does not relieve the seller from his contractual obligations.

As stated in the Guidelines for Completing the Offer to Purchase and Contract: "Buyer Representations are statements of current facts that Seller may reasonably rely upon in deciding whether to enter into the Contract." A note at the end of paragraph 5(a) advises sellers that if a buyer represents that he or she does not have to obtain a new loan in order to purchase the property, they should, prior to signing the offer, obtain documentation from buyer which demonstrates that buyer will be able to close on the purchase without the necessity of obtaining a loan. That note also cautions buyer's agents that if they know, or reasonably should know, that a buyer must obtain a loan in order to purchase the property, that is a material fact that the buyer's agent has a duty to disclose.
In the facts you have described, there is no indication that, at the time the offer was submitted, the buyer in fact needed a new loan in order to purchase the property. If the buyer had sufficient liquid assets to purchase the property, the fact that he subsequently decided to obtain financing was perfectly permissible and did not violate any provision of the contract.
Sellers should recognize that a buyer's representation that financing is not required is not the same thing as a warranty by the buyer that he or she will pay the purchase price in cash. Since a buyer's decision to obtain financing is not a breach of contract, sellers will remain bound to all of their contractual obligations, including any obligation to pay a portion of the buyer's expenses at Settlement.      

NCAR provides articles on legal topics as a member service.  They are general statements of applicable legal and ethical principles for member education only.  They do not constitute legal advice.  If you or a client requires legal advice, the services of a private attorney should be sought.  Always consult your broker-in-charge when faced with a question relating to the practice of real estate brokerage.
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