"The Golden Rule"
Apologies to my Mother, Carol in Germantown and Margaret in Potomac. I will not be talking about "THE GOLDEN RULE" but the one that applies to Real Estate. For the last 5-6 years we have been dealing with many challenges representing our sellers, pricing, price reductions, condition, days on market... it was a price war and a beauty contest. When we finally got a contract in that was acceptable to both parties the real work began, negotiations, appraisal issues, home inspection items... We did everything in our power to keep the deal alive. Convincing a seller that we could not lose the contract was no easy task, because if and when we got another one it would not be as good. Many of us left a lot of money on the table because we gave some of our commissions away to close the deal. We have talked about this a great deal, the market has and is changing right in front of us. We are shifting from a buyers market to a sellers market quickly because of the tremendous lack of inventory. When the time is right we should consider sticking up for our sellers and ourselves more in negotiations. If it takes 90 days to get a contract you might not be there yet, however if you were on for 7 days and got full price it might be time to suggest to your sellers to dig their heels in a bit on the home inspection or other negotiable items. More then likely you will get another contract in quickly if you have to go back on the market. So the golden rule of real estate is coming back into play, "Whoever has the gold makes the rules".
Enjoy the coffee,