Purchasing a home can be frustrating, as well as an emotional experience. A real estate agent negotiates the transaction on behalf of his or her client. Some transactions go through quickly with a minimum of negotiations. Other transactions are fraught with difficulty over issues such as price, timelines, and property repairs. As the agent, it is your task to handle all the back and forth negotiations in a professional manner.
The best agents know ways to ensure the real estate transaction goes through trouble-free.
The Offer
Determining an acceptable offer to purchase is a fine balance between price, terms, and timelines. To help a client reach an agreement with favorable terms, the agent must be intimate with the current state of the market. This includes knowing the asking price of comparable properties in the immediate area, financing, the time the property has been for sale, and more.
At times, the seller may set a time limit on making an offer. Whether there is a time limit or not, it is in the best interest of all parties to make an offer with minimal delay.
Counter Offers
If the seller does not accept the initial offer, they may respond with a counteroffer. When the initial offer is made, the buyer’s agent will make sure their clients are aware of this possibility. In the event of a counteroffer, the buyer can accept it, counter with another offer, or reject the counter offer out of hand and terminate the negotiations.
Multiple Interested Parties
Often, especially when the property is desirable, two different buyers may express an interest to purchase the home. This puts the agent in an awkward situation. As an agent, you owe both clients confidentiality. If one agent is representing multiple interested parties, any information must be given to all involved parties. It is not unusual in cases like this for the agent to refer a buyer to another agent.
Selling or purchasing real estate is not easy. The best real estate agents will work diligently to ensure a smooth transaction. Busy agents and brokers find Reesio helpful in streamlining a property transaction. For further information.
