Industry News

Advice for the Rookie Realtor

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Re: 'Rookie Realtor's first deal collapses' (June 8) Dear Rookie: Instead of asking everyone around you what has changed, why not ask your buyers? Most likely they are really nervous about the commitment and not unhappy about the home. I cannot believe that your BIC (broker in charge) has not covered this with you. Sounds like you have already kissed the deal goodbye and don't even know if your buyer really wants to pass on this house or not. Sit down with the buyer and explain to them that they will NOT get their deposit back and in addition that it will cost them at least $300 in cancellation fees to end this deal (this should be the second time you have covered this with them because you should have explained this to them BEFORE they signed the first offer.) Do not sugar coat these points: you are not trying to make their breach of contract any easier or nicer than what it is when you are explaining it to them. Stick to the hard, cold facts. Right now it is in your client's best ...