RSS Feed

Monthly Archives: May 2017

If your real estate hasn’t sold

Posted on

Believe me, your Realtor would love to sell your listed real estate. Until and unless the property is sold the real estate agent and broker don’t make a penny. The only way they get paid is for you to sell your real estate.

We say that Realtors “sell” real estate. Yes, they “sell” it in the sense that they advertise it and promote it. But only the owner can “sell” it in the sense of transferring the title to a new owner. The property has been sold when the buyer has a deed signed by the seller, and the seller has a check for his or her proceeds.

Only then will the real estate agent or broker receive a commission check. Some of us Realtors say that we “market” real estate rather than “sell” real estate. Others might say we make a distinction without a difference. I, for one, think there’s a difference between marketing and selling.

The Realtor tries to find a buyer who not only “likes” a property but is ready, willing and able to buy it. That includes being approved for mortgage financing if a loan is involved. Lack of loan approval is a deal killer.

The seller likewise must be ready, willing and able to give the buyer a clear title and sell the property. ┬áThe Realtor may bring a reasonable offer to the seller, but if the seller turns it down then nothing happens and we’re back to square one. The Realtor may have done a good job of marketing, but the seller didn’t sell.

And let’s remember that Murphy’s Law always applies in the real estate selling process: If anything can go wrong, it will. (And it will go wrong at the worst possible time.) Fortunately, most real estate deals do get closed – when the Realtor has effectively marketed the property, and seller sells it. (That’s why he’s called the “seller.”)

Feel free to comment.

Advertisements