5 real estate terms your clients just don’t understand

If they get these wrong, you risk both the deal and your reputation

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

 By JOVAN HACKLEY When a transaction tanks, there’s usually one common culprit to blame: miscommunication. Too often clients and customers trade in lingo they really don’t understand; and, while you may be telling them the truth, it’s going over their heads and pointing you toward transaction disaster. In hopes of helping you avoid the derailed deal during this year’s "make it or break it" market season, here are five terms to go over early to avoid a negative review or, even worst, a deal gone down the drain: Good Faith Estimate In a dream world, there are no surprises on the way to closing. Here on planet Earth, anything can change at any time. A frequent stress point where clients get caught in the crosshairs of the sometimes inevitable is the Good Faith Estimate. Most clients see and save toward this magic number that tells them what they’ll need to close. However, make sure your buyers pay attention to the last word in Good Faith Estimate. These “esti...