Industry News

Advice for the Rookie Realtor

Real estate a 'live and learn' industry

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Re: 'Rookie Realtor's first deal collapses' (June 8) Dear Rookie: As a loan officer for 12 years, I have recently seen this behavior in two deals for one borrower. In this case, it was the seller that simply didn't want to sell after we had loan docs at escrow. The second of the two failed sales is quite possibly going to end up in a lawsuit against the seller. But the seller knows how hard it is and how expensive it is to sue for specific performance, so they take their chances and bail on a perfectly good contract because maybe they know they can get more money from someone else. The only thing I could say is: explain to all clients – a contract is just that – a contract. Careful screening upfront and clear communication can sometimes screen out the flakes. In this industry, it is live and learn...unfortunately. All we can do is keep going. You will have that great sale soon...You just have to keep plugging away and try not to let one deal get you down. Keep your inte...