The Art Of The Deal

by Darrin DeRoches September 26 - October 2, 2013

In real estate the “art of the deal” can be the most important part when selling your home. There are tons of real estate agents out there who can write up a deal and then there are the ones who know how to structure a deal. In Hamilton — Burlington there are about 2500 agents at any given time. So your chance of getting the best agent or one of the best is kind of a crap shoot. Some people go with the agent who has the most advertising. They figure the agent must be the best if he constantly sells the most. Others go with a friend or family member. Again, any one of these can write up a deal but very few know how to structure a deal.     Last night I made a deal with an agent who had been in the business for over 20 years and I had never worked with her before so I did not know what to expect. First things first, she showed up and presented the deal in person. Secondly, the opening offer was reasonable and the clauses were pretty standard. Finally, she was likeable, talkative but still business minded. These three things seem standard to any agent but you would be surprised. In today’s world of real estate a lot of agents do not “present” their offer they just fax or email it in. This impression gives the seller very little to work with. We can ask all of the standard questions – are they pre–approved, first time buyer etc. but having the agent actually sitting across from the table, the answers and information they give you is invaluable. Sometimes the way that they say it or their reaction to a “tough question” gives you a lot more information than an email.     Negotiations start with the first phone call, first impressions and all the way through to the last word. Anyone can list their house on the internet and wait for someone to come with an offer but how you present the property and most importantly negotiate the deal — this is where you make your money. The agent presented a good deal and we were fifteen thousand apart and if we went the regular route of negotiations we would have ended up at $290,000 for the property. This is only the first step in making the sale because, again, anyone can make an offer and sign an agreement but it is more important that they can close the deal. The agent showing up and explaining their clients, time frame and all the little details help with the negotiations. My clients felt as though these buyers would not only pay a fair price but close the deal, so we could move forward. My client wanted to sell to move on with their life but also to get top dollar so price was just as important as time and hassle. We got $292,000 which is over their expectations but more importantly we have a deal that will close fast with no hassles. V     Darrin DeRoches is a local real estate and mortgage broker. He can be reached to answer questions, comments or stories about real estate experiences through this weekly column at sold@uniquerealty.ca