Real estate is a funny business.
Every day is different.
Every buyer, seller, renter, landlord and investor has a story all their own.
Just when you think you’ve heard the most far-fetched excuse, the most ridiculous story, or the most unbelievable circumstance, something comes at you from so far out of left field that your jaw just drops to the floor in amazement.
In all these years, I never stop shaking my head when I hear these stories. And sharing such trials and tribulations with my trainees or associates makes for great lunchtime talk. Most of all, I’m happy to know it’s not just me with the adventures to tell. I think that no matter how long I am in the business, people will never cease to amaze me.
And Friday was no exception.
Early on Friday, I had a closing where I represented both the buyer and the seller of a condo. It was a long road to get to the closing table, filled with hiccups of every kind. So getting it done was a huge celebration, to say the least.
As everyone parted ways, the buyer headed back to her new home to start cleaning, painting and renovating to make it her own.
Then I got an email at about 10PM that night.
It was from the buyer, saying that when she got to the condo there was water on the carpet. No one disclosed to her that there was a leak anywhere.
I reminded her that she had an inspection done and nothing was noted about a leak. She had received the seller’s disclosure that, again, did not state anything about a leak being a problem. Because we had had torrential downpours all day and the windows were very old, I suggested that perhaps the rain blew in and that I was positive there were no leaks or anything that wasn’t told to her.
To which she responded:
“I want to return the condo. I have three days to rescind my decision and that’s what I want to do.”
For a moment I was taken aback – this was a first.
I never recalled in real estate school having property compared to a piece of clothing or a personal item purchased at a store that you can return to the retailer for a refund.
Did I miss something in my training???
My take away from this experience, after I collected myself and shook off the disbelief in the response, was that educating your clients is key to a successful transaction.
While some folks may have never bought or sold a property before, providing them with insight into all the processes and procedures might take time. But in the end it will be worth it. Especially when everyone understands their roles and responsibilities when doing anything in real estate.
I work with a lot with first-time homebuyers who are eager to know everything and who look to the professionals for guidance along the way.
There is no stupid question.
And having the patience to help your clients appreciate what is happening will make for repeat clients down the road and your referral network to build.
As for my buyer…
I think she is still looking for the tags that she removed from her purchase in hopes of getting a full refund when she tries to return the condo to where she bought it.
Kay Conageski is a professional Realtor® with The Keyes Company based in Plantation, Florida. Check out her RESAAS profile ›