Nancy Hill
Nancy Hill
Solution Partners NW

Client and Realtor...It is a Partnership!

Posted on August 8, 2009

A real estate Partnership is when
both the Realtor and the Client understand the actions required by contract once mutual acceptance has been reached.   On a rare occasion there is some misunderstanding by a Buyer Client that this is a show that they are watching and action on their part is not necessary.  This is not realistic as many of the contractual actions I am referring to are Buyer Client actions.  
For example, if there is a timeframe in a contract to get a home inspection completed within 10 days of mutual acceptance then the Buyer Client must make that appointment, as the inspector works for the Buyer....not the Realtor. If the appointment has not been scheduled, after multiple reminders from the Realtor,  then that 10 day inspection contingency will pass and the Buyer Client will not have a home inspection.  Unless the Buyer Client and Realtor agree that the appointment will be scheduled by the Realtor this remains the Buyer's action item.
The Buyer Client will also be asked to provide multiple documents to their Lender.  These documents are needed to get the loan through underwriting and approved.  Sometimes, Buyer Clients get frustrated with so many document requests, however, these disclosures are necessary to get the loan to fund and the home closed on time.   The Realtor can not perform this action of document gathering for their Buyer Client. 
 
What is the Realtor doing?  A mutitude of tasks to keep the transaction moving toward closing - correspondence between Listing Agent, Escrow, Lender, Broker, Title Company and much more.  Along with those tasks the Realtor keeps the Client knowledgeable of the contract and timeframes. 
 
Having an understanding of this partnership and who is to perform what actions is critical.  Having clear parameters and an understanding of the contract action items should be established at the onset of this Client - Realtor Partnership. 
 
The purchase of a home is a financial commitment that may be the largest financial commitment that an Buyer Client will ever make.  In a partnership, honesty about finances should be paramount so that the Realtor can connect the Client with the appropriate Lender to secure a loan for the Client while the Realtor begins locating the proper home for the Clients budget.  Realtors are not impressed or unimpressed with Client finances.  That is just one more fact,  if communicated honestly, will create a great partnership and a smooth transaction.
 
In my line of work the ability to communicate clearly is critical.  I have learned that not all Clients want to hear what is being communicated.  Realtors assist in the purchase and sale of properties as their occupation.  The Buyer or Seller Client should trust the Realtor that they have chosen so that everyone is secure with the information being presented and the necessary actions are performed  on time to comply with contract.
 
If both the Realtor and the Client communicate honestly and perform the required contractual actions, based on the contract timeline, then a GREAT partnership has been created.   That makes for a smooth transaction and more than likely a very happy home sale and successful closing.
 
 
 
 
 
 

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