Margaret Rome's Blog

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It Ain't That Easy

 

 

 

A client (who just bought a house) said,

'Real Estate is easy. ..You just show a house and collect a commission."

So easy that she decided to get her own RE license. My offer to mentor, rejected.. she didn't need help. In less than a year, I noticed her home was on the market. Guess it wasn't that easy!

 

You read about smooth settlements but what you don’t read about is the team work it takes to orchestrate a closing.

 

 

A real estate transaction involves a lot of people .

Many players are needed to get us to a final closing.

There is the buyer, the seller, the listing agent, the buyer agent, the lender, the loan processor, the appraiser, the underwriter, the title attorney, the closing administrators, various contractors like the general home inspector, termite, well, septic, radon, pool, HVAC, roofer and a I’m sure we could name a few more. But you get the idea.

 

There is the Home Owner Association, Condominium or Cooperative Board that may have to approve you. 

condo documents

 

Here are some of the variables.

Appraisal issues and lender required repairs.

Necessity of changing a closing date for many reasons.

Getting buyer and seller to agree to a change.

Loan lock expiration and the possibility of an extension.

Tax assessment increase.

Condo or HOA violations, fees in arrears or new assessment.

Weather! Delay! A roof replacement but there are 10 days of straight rain.

Defects found after house is vacant, may have been covered up by furniture or packing boxes.

Unexpected business or personal delays by either buyer or seller.

Required repairs that have not been completed.

Damage to property between the home inspections and closing.  Storm or water damage due to heavy rain or failed sump pump. Insect or rodent infestation not evident earlier.

 

 Last minute

 

Stress

Let’s now add into all of the above the emotional stress of the the players.

Frustration over a delay. Short tempers. Loss of control. Kindness impairment. Personality conflict. Changing dates of moving. Phone and utility delays. Having to vacate present home with nowhere to go. A second move. Storage costs etc. 

We didn’t mention contingencies like the buyer’s buyer’s  home going to closing. Getting funds from one closing to the next. Getting the final package  in time to wire funds.

 

Want a smooth settlement with everything taken care of?

Want to sell your home?

Call Margaret Rome 

 

Margaret Rome

 Search All Active Listings

 

Sell Your Home With Margaret Rome

Broker-Owner HomeRome Realty 

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Author of Real Estate the Rome Way

mrome@HomeRome.com

410.530.2400

Margaret Rome on Zillow

Comment balloon 24 commentsMargaret Rome, Baltimore Maryland • August 04 2018 08:54PM

Comments

When I get done with a deal the seller or buyer understands why I make what I do

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) 4 months ago

William Feela When we are efficient and do all the things to get to a smooth closing, the client can not appreciate how much goes into a transaction. Including them in the process helps them understand.

 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

In this tight inventory market at the lower price level, buyers keep losing out on homes. It takes experience to just get the client into escrow. Then helping them find a lender they are happy with who can get it done. Holding their hand throughout. Above all else, in this day and age an agent can't tell their client, "I don't know, let me find out"...no, we need to instill confidence, we need to KNOW.

Posted by Hella M. Rothwell, Broker/Realtor®, Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea 4 months ago

Hella M. Rothwell, Broker/Realtor® You have to be on top of your game to get a home for buyers in your area. Writing multiple offers and getting beaten out is very difficult for the buyer and for you. Always good to see you.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

I'm exhausted just reading the litany of things a good real estate agent handles. And it is so very true.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) 4 months ago

A couple of years ago, I was in grocery check-out line when I overheard a gal tell her friend she was thinking of becoming a real estate agent because it was so easy.  They had just come from an open house, and thought all you needed to do was walk folks through houses.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 4 months ago

BUYERS! 

Do you want to buy a home in Baltimore, Maryland? There's only one right way and that's the Rome Way!!!

Call Margaret Rome, Baltimore Maryland!  

Posted by Patricia Feager, MBA, CRS, GRI, Selling Homes Changing Lives (DFW FINE PROPERTIES) 4 months ago

Good morning, Margaret Rome, Baltimore Maryland I'm totally exhausted just reading the duties of soooo many people who need to participate in the sale of a home...and all of this is orchestrated by the agent in charge....nothing is easy.... but a well-versed agent will ALWAYS make it look easy....

you make it look very easy.... and that agent should have recognized the value you brought to the table.... 

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) 4 months ago

Great points. Buying and selling homes is often not easy, and can be fraught with challenges. The first year or two of real estate is the hardest, and the time when offers of mentoring should be grasped with glee.

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com) 4 months ago

 

Lottie Kendall I wrote this after a wonderfully busy day and all of those things have been experienced by most of us. You could write an equally long list but that would take up too much time.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

 

Myrl Jeffcoat It is so easy..just put on a pretty pair of high heel shoes and show pretty houses to RWA buyers. Oh so simple...at least that is what some of the public thinks.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Patricia Feager You are one of the most positive members. I appreciate your comments and your blog posts.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Barbara Todaro That agent was not an agent at the time of her comment. She was at the closing table buying her first dream home.

It just looked so simple...she went out and got her RE licence. She didn't last a year, was in debt and had to sell that first dream house. Have not heard from her since.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Kat Palmiotti A great ice skater makes it look so smooth and easy. A novice skater makes it look quite difficult.

The more skill and experience...the easier it looks.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Managing all of the details and the emotions is a full-time job. Add all of the other issues and it really does take somthing "extra" to do it seamlessly.  Your comment #14 is so true. 

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) 4 months ago

Debb Janes EcoBroker and Bernie Stea JD   Here is a post  about

poker and ice skating

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

She thinks it is easy because you make it look like a piece of cake.  You are so calm, cool and collected folks have no idea how hard you are working for them.

Posted by Chris Ann Cleland, Associate Broker, Bristow, VA (Long and Foster REALTORS®, Gainesville, VA) 4 months ago

Being the calm voice of experience who has all the answers makes it look easy, when we all know it is anything but easy.  I always tell the rest of the story when someone is thinking about getting their license and mentions it looks so easy and they will make so much money.   Rarely do they follow through.  Takes someone with tenacity, kindness and patience to do this job!

Posted by Mary Ann Daniell Central Texas Realtor, Homes - Land - Small Acreage (Coldwell Banker United, Realtors - Subsidiary of NRT LLC ) 4 months ago

Chris Ann Cleland An experienced professional just gets the job done. Always good to see you.

 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Mary Ann Daniell Central Texas Realtor Good seeing you. Look forward to reading some new blog posts from you! 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

I'm working on it!   Thanks for the note, Margaret.

Posted by Mary Ann Daniell Central Texas Realtor, Homes - Land - Small Acreage (Coldwell Banker United, Realtors - Subsidiary of NRT LLC ) 4 months ago

Mary Ann Daniell Central Texas Realtor Once you have been away for a while..it is challenging to jump back in. Just left you a message.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Margaret Rome, Baltimore Maryland  I hope she wasn't relying on her real estate income to pay the mortgage in her first year. Did she list it herself or is she out of the business already?

Posted by Alan Gross, Loan Consultant (PrimeLending, A PlainsCapital Company, Equal Housing Lender) 4 months ago

Alan Gross It may have been her first and last listing. Always good to see you.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

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