Deb's Lake Conroe Real Estate & Stuff! : We Don't get Paid Till We Close...Of Course I'm Doing My Best!

We Don't get Paid Till We Close...Of Course I'm Doing My Best!

The tide has changed...and I mean drastically! Sales use to wash in and close and then wash out back to the sea of contentedness...and now what's happening?

Fanny Mae, Freddie Mac are just not the same entities...they are now the boss.

We, as in Real Estate Agents and Brokers and Mortgage Brokers and Surveyor's and Inspectors and Title Companies are all trying to march to a different beat.MarchingDrummerAnim.gif Anim Marching Drummer image by cbcat

It's a new beat and the drums are rolling. Learn the facts, gain control and step up to the pump. (no puns about gas prices intended)

Remember allll the waaaaayyyyy back to Real Estate School? We were taught that we are there to "MANAGE" all forces that create a successful closing.

Consider yourself the cog of the wheel.WagonWheel-500.jpg Wagon Wheel image by cowgirloncoffee            Without each and every spoke of the wheel connecting and supporting one another the cart would crash under the weight.  Never before has it been more important for each and every one of us within our own "individualized businesses" to take responsibility of each step of a transaction as now!

Our market is shaky to say the least.

Any small glitch can and will interrupt your sale and your client's dream.

Stay on top of each and every detail required to close even if it is someone else's job.

Now is the time to begin to cover all bases which are many more than " the bases are loaded (4) "in the world of Real Estate.012.jpg Baseball Diamond image by Bragg0001

 

 

 

If your deal is qualified...it just doesn't matter.

Lenders are looking for any small detail that may not fit the guidelines.

It's time for you to study, learn and practice. None of us are perfect but we must give it our best shot of practice or it just won't happen!

You executed a contract! Good for you.KB.jpg Kyle Blanks 8/20/08 image by freeze_over98

If you want it to really happen then heed my advice.

Don't take your eyes off the ball! 

 

Good luck....

Really, it's all up to you!

Later in the rain~Deb

 

                                                                                                   Please subscribe~       
**********************************************************************************

 

 

Texas Home Search on FaceBook

Check out my website at: www.debs-realestate.com.

 Some photos attributed                                     

 

 

 

 

Comment balloon 25 commentsDeb Brooks • October 30 2008 08:12PM

Comments

Great post, Deb.
I have always kept my eye on the ball.  I ALWAYS triple check everything and stay on top of every single detail, and follow up more than most people would like ... but that's just how I do business.  I stay on top of it and keep my clients informed all along the way.  I never stop doing my best until the keys change hands, and then I still stay in touch to make sure there were no surprises when they moved in ... I wouldn't be able to sleep otherwise. :)

Posted by Sylvie Conde, Broker, Toronto Real Estate (Sutton Group-Associates Realty Inc., Brokerage) almost 10 years ago

Deb, I like your little drummer guy!

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) almost 10 years ago

Sylvie, you are a needle in a haystack my friend. Many agents (including myself) became a bit complacent and simply trusted it would all get worked out. Not anymore! We (as you are) must remain on top of everything at every moment. I am learning this the hard way each and every day!

Thanks for taking your profession so seriously Sylvie! Later in the rain~Deb

Posted by Deb Brooks (Brooks Prime Properties Wichita Falls Texas) almost 10 years ago

Deb - Great advice. I'd say I am not only watching the ball, but I am holding my breath with each transaction!

Posted by Carol Culkin, Overland Park (Reece & Nichols) almost 10 years ago

Carol, if I held my breath I would be dead by now. I've learned to become more patient and to teach my clients more patience...breathe!!!!

Later in the rain~Deb

Posted by Deb Brooks (Brooks Prime Properties Wichita Falls Texas) almost 10 years ago

Banks are more likely to be clients now than they are to actually provide financing for a third party nowadays.  Very timely post, Deb, and well articulated.

By the way, I was sorry to miss the opportunity to meet you in Houston as well.  Next time :)

Posted by Paul Slaybaugh, Scottsdale, AZ Real Estate (Realty Executives) almost 10 years ago

HI Deb, I find my checklists more valuable than ever now, I use them and refer to them everyday.  Call me paranoid but I don't want a delayed closing or no closing in this market that is tough enough to get a closing.  :)

Posted by South Austin Real Estate Blog (Sky Realty South Austin) almost 10 years ago

Paul, thanks! You are right about banks being the clients. I'm afraid if they get their wish Realtors will be replaced by a Lawyer or another entity that will keep more of the proceeds in their pockets. I read Jason's post and saw the pictures. You all look like you had a great time. I'm sorry I missed you too. We will meet one of these days, my friend!

Later in the rain~Deb

Posted by Deb Brooks (Brooks Prime Properties Wichita Falls Texas) almost 10 years ago

Gail, we've always had to hold hands but this is just crazy. There are so many tiny details that can cause a delayed or non-existant closing. Whew, we are all going through enough these days without getting to the day before closing and finding that it's just not going to happen! Good luck to you in holding it all together! I would love to meet you soon.

Later in the rain~Deb

Posted by Deb Brooks (Brooks Prime Properties Wichita Falls Texas) almost 10 years ago

You sure said it Deb! I have three escrows right now (yippee) but it is consuming ALL my time to make sure everything is running smoothly. 

BTW, I can totally hear your little drummer beating to the tune of "We won't get paid till we close"!

Posted by Cristal Drake, Realtor - Fullerton Real Estate (Prudential California Realty) almost 10 years ago

Cristal, "We won't get paid till we close...so stick this up your nose!"...okay, it just rhymed Cristal...don't tell anyone I said this....Deb

SP_A1149.jpg BIG NOSE! image by daviru

Posted by Deb Brooks (Brooks Prime Properties Wichita Falls Texas) almost 10 years ago

Deb, the lenders are tough, you are right. Love your new profile picture. You keep getting prettier.

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) almost 10 years ago

Howdy Deb

I sure do know, you keep your eye's on the ball, and do take care of your cilent's.

Keep them there wheels a roll-en.

God Bless Texas

Posted by Dale Baker, New Hampshire Relocation Real Estate Information (Baker Energy Audits and Commercial Properties Inspections) almost 10 years ago

Dale,it takes cooperation between each and every party too! I'm sure that as an inspector that you're finding the very same thing. I hope your business is going well and you remain prosperous.

Later in the rain~Deb

Posted by Deb Brooks (Brooks Prime Properties Wichita Falls Texas) almost 10 years ago

Deb, I agree that everyone has to work together--and am so sorry on some of the posts I read that people are not doing their jobs or are uncooperative.  Your picture is lovely!!

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) almost 10 years ago

Deb - Nicely done.  "Keep your eye on the ball" is a great analogy for so many areas of our lives - family, spiritual issues, etc.  Great job, my friend.

Posted by Jason Crouch, Broker - Austin Texas Real Estate (512-796-7653) (Austin Texas Homes, LLC) almost 10 years ago

OMG - I've always been a control freak anyway and now it's even worse!!  My duaghters use to get irritated with me and said i would "Micromanage" when they were helping me in the 90's and early 2000 -  It seems like the trouble has been coming from the PMI companies rejecting loads of stuff that use to go through.  Problem is they switched the game overnight.  Most loan originators have figured out the "game" around here.  I'm getting ready to write up another contract for a couple that has some credit issues and he just started a new job 30 days ago but the lender assures me he has ran everything thru the underwriter already:  warts and all on the Buyer, but I am just scared to death because I am so sure that someone is going to "wreck the bus!!"  Anyone know the in's and out's of VA - I thought the VA loan still had a PMI premium (at a lower rate because part of it is funded - the 2% added to price)Pray for me guys cuz it gets slow thru the holidays!!

Posted by Deanna Dibble (Hedges Realty Executives) almost 10 years ago

Debra: this post is dead on. You have to stay very focused these days no question about it.There is no question that we have to be more detailed.Great analogy with the eye on the ball.Its a must these days! I am sure your clients gets the best treatment.Its great showing pride in your job like you do.

Let it rain! LLoyd

Posted by LLoyd Nichols, SW Florida Homes (Premier Florida Realty of SWFL) almost 10 years ago

Deb how is it that with every new photo of yourself that you post - you get younger and more beautiful???hmmm....

I love how you do your posts....they're a pleasure to read ......and usually make me smile or think~

Posted by Liz Moras Migic, Chilliwack, British Columbia - Realtor almost 10 years ago

Deb, I do agree with you that lenders are looking for every little reason not to close. Well, not the lenders or processors but the underwriters. I even have had a very appraisers come out to check something was done. An appraiser with a conventional 20% loan, even the banker couldn't believe it. She said lenders are looking for everything in MI before writing these loans. This too shall pass.

Posted by Missy Caulk, Savvy Realtor - Ann Arbor Real Estate (Missy Caulk TEAM) almost 10 years ago

"Stay on top of each and every detail required to close even if it is someone else's job."  This is profound advice.  You can't let up at all or something will pop-up and cause a problem.  It is our job to minimize problems for the client.  You can't do this if you are not verifying every detail.   

Posted by Erik Hitzelberger, Louisville - Middletown Real Estate (RE/MAX Alliance - Louisville REALTOR-Luxury Homes) almost 10 years ago

Hi Deb,
It's a difficult time and we are the "hub" of the wheel--trying to keep all those spokes from breaking away.

Posted by Cynthia Tilghman, Realtor® Onslow County NC Home Specialist (Kingsbridge Realty, Inc) almost 10 years ago

Frankly Our job is hard enough and we are the only profession that depends on someone else deciding whether or not we will get paid.

Posted by Gayle Balaban, E. TN Waterfront Real Estate (The Best Spot Realty/Waterfront Real Estate/Ooltewah Real E) almost 10 years ago

OK when I picked this to read I didn't know it would be creative writing and post comments at their best.  Must be Halloween.  This was a good post, good advice and fun comments.  THANKS...

The reality is "We don't get paid if it doesn't close"...that's the risk we take every day, every transaction and every time we decide to keep doing this work.  Is it worth it, most of the time, or we'd go do something else, right? 

Posted by Terrylynn Fisher, HAFA Certified, EcoBroker, CRS, CSP Realtor, Etc. (Dudum Real Estate Group - BuyStageSell.com) almost 10 years ago

Deb, this is so true....exactly what I'm experiencing right now. Fortunately I've been very lucky to have worked with very professional teams on my last 6 or 7 closings so I haven't had too many frustrations. But I know they are out there and happening when someone does take their eye off the ball or just assumes it's going to get handled.....guess what? Can't "assume" anything!

Posted by Colleen Fischesser Northwest Property Shop, A Tradition of Trust in the Pacific NW since 1990! (RE/MAX Advantage | Managing Broker) almost 10 years ago

Participate