119. HOW TO AVOID TRANSACTIONAL PAIN:

Do not think for one moment that any transaction you are working on is so different from normal transactions that you can afford to violate basic procedures. Even if you are dealing with your mother and father, do not bust these basics.

When the client has signed and the deal is made, say goodbye and leave – Do not stay to celebrate. Celebrate only after the transaction has closed.

A deal is complete only when communicated so. “Congratulations, your offer has been accepted”, is standard opening.

Never introduce a subject that does not relate to the transaction. An innocent, unrelated remark often leads to needless and protracted discussions that stray from the transaction.

Never give a buyer the key to a property until the escrow has closed.

Never allow the seller to give possession to a buyer until escrow has closed.

Use the telephone only to set appointments Never attempt to close a sale or get a listing over the phone. Never! Never! Never! Under no circumstances.

Always register your client with the listing agent.

Never allow escrow instructions to go out to either the buyer or seller until you have read them.

Never rewrite a sale contract once it has been signed by the buyer. Use addendums and counter offers, no matter how many.

Make no oral agreements. Accept no oral agreements. If it is worth talking about, put it in writing.

Never assume anything. If you do not know – ask. If you do not know – say so. If you can teach yourself this one habit, you will save yourself a great deal of personal anguish, and also make yourself more monies than you would otherwise.

Never think your deal is different. Never think your client is smarter, or wiser, or so experienced that they can be handled differently. Never think that you have such a great relationship with the client that you can bend the rules or bust the basics.

When the sale is made, do everything that needs to be done immediately. Never wait. Time is of the essence.

Never throw away the name and phone number of a prospective client, no matter how angry you may be at the time. Most buyers will buy eventually

Always put into writing any agreement you make with a fellow sales associate in the company.

Never think any client does not need to be sold. Never be afraid to sell anyone.

Never accept a compliment in lieu of a signature.

Do not give a check back until told to do so by the legal party.

Never give up on a deal. Keep it alive. Keep the dialogue open.

Always get a counter in writing and signed. Never leave a seller without a counter offer, even if it is for full asking price. Always get the seller to sign the purchase agreement subject to the counter. Signing the offer is proof that they received it.

Never think there is nothing for you to do simply because there is nothing for you to do. Go to the office and you will either find something important to do or you will make something important happen.

Get all changes initialed. A deal is not a deal until all items are approved in writing.

Never say a deal is dead just because the buyer cannot get the loan the sale was structured around. Terms can always be restructured in a favorable way.

Do not forget the three basics required for making a deal and also keeping a deal together. As long as the buyer and seller are both ready, willing & able” a deal can always be saved, regardless of the problems.

Do not play God! Do not decide what is best for your buyer and seller! Let them decide.

This is an incomplete list!

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