Hire a Professional

This post is a follow up on the last installment entitled “Do What You Know.” In fact this piece should be called “Know What You’re Doing.”

I was at a gathering last weekend. I had anticipated that there would be an awkward moment or two. A friend of ours had just listed and sold his/her home through another broker. There’s always the laundry list of reasons for the redirected business, the sense of betrayal and the complete lack of loyalty. And, being a professional, you’re obligated to be polite and understanding. It’s all part of the occupation. I’m not saying that it ever gets any easier. All I’m saying is that it’s part of the landscape.

Now the misery doesn’t end there. Invariably, part two of the nightmare unfolds. The friend begins to tell you about the trouble he/she’s having with the transaction. That train is never late. Not only were you not hired as the representative you are now being asked for advice. And, even if you do have a solution to the problem you cannot render it. And, even if you could render it, it may be too late already to affect the outcome of the transaction. Things are already in motion that cannot be stopped or altered. It is a very frustrating experience because you know that this would not have happened if you were the listing broker. The seller, our friend, is looking at paying out thousands of dollars more than necessary. He/she was left unprotected and vulnerable.

Whenever you’re buying or selling property and you hire a realtor hire a professional! I know that the preliminary interviews help establish compatibility and rapport but be sure to take it further. It’s the most significant financial event of your life. Take the time to ask qualifying questions. Does the broker know how to handle negotiations around a home inspection or a leaking oil tank? Does the broker have experience selling condominiums? Does the broker have access to services and contractors that might be necessary to remedy defective wiring or plumbing? Will the broker provide several options or just one? How will the broker protect you from the other cooperating broker whose fiduciary obligation mandates that he/she does everything to advance the agenda of his/her client? Will your best interest be the primary focus here? Is this broker the best fit and the most qualified? This is serious stuff. Will you walk down the road with confidence knowing that you’re in capable hands or will you be sitting at a cocktail party knowing that you’ve been compromised and underrepresented?

Please make the right choice. Ask those questions. Align yourself with someone who understands the process and knows how to protect you.

Once again, thanks for reading this post. Your comments and suggestions are always welcome. I can be reached at gary@vppihomes.com or www.vppihomes.com.

As always, this information has been... On the House.