Industry News

Rookie Realtor bummed by ‘buyers’ remorse’

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

Well, it's official: What I thought was going to be my first real estate sale has fallen apart. My clients cancelled their escrow two days ago after getting a serious case of "buyers' remorse." Luckily, they'll also get their $5,000 good-faith deposit back. The sellers were happy to return it, because another couple last weekend offered $7,000 more for the property than my own buyers had agreed to pay. So, my buyers get to break their contractual obligation without losing any money. The sellers, meanwhile, get $7,000 more than they originally bargained for–which means their sales agent will make a few extra bucks in commission, too. Everybody's happy. Except for me. I don't cry a lot, but I did last night. For almost a year, I've tried so hard to make my first deal. I've passed out thousands of flyers, and sent out hundreds of letters. I've cold-called people whose listings have expired, and I wear my real estate badge wherever I go in the hope that someone will ask me to help ...