There Are Only 4 Steps To Any Real Estate Deal

"Life's easy...unless you make it hard". ---Unknown

For most folks, a real estate transaction is stressful. I mean, there are so many moving parts to it. It's not like you do this every day. And the downside to making a bad decision is huge! Those darn real estate people talk about terms that very few others know what the heck they are talking about. Escrow, earnest money, contingency, pending, Exhibit A and babble like that. It's all so overwhelming to those who aren't in the business. But I think the biggest stress is the possibility of leaving money on the table.

When you really break down, in any real estate deal there are only 4 main parts. Plan for them and it will serve you well. Are you ready?

Set Your End Goals

What is it you want to have when you are done? Buy a house? Sell your current home and buyer something larger or smaller? Buy a vacation home and possibly something you can rent through Airbnb? Your desired end goal will dictate every thing through the process. 

Speak To An Expert

Have you ever heard the term, "You don't know what you don't know"? This is my all time favorite quote. Because you don't know everything. And how could you? This is especially true in real estate deals. You need to talk to a real estate professional to understand all the dynamics of how things will go down. And it doesn't matter if you are buying or selling...talk to a real estate person first. You can decide later if you want to work with that person or not but they have information for you. But better yet, interview the agent first then decide to work with them or not. But they will have some valuable information for you. Just some will have more than others. 

Make A Plan

With the help of your pro, you should put together a step-by-step road map to getting your deal done. 

Working as a team with your said goals in mind you will accomplish much more than if you tried to to it all by yourself with no plan. And write it down. You don't really have a plan if everyone involved can't read it and understand it. 

Execute

This sounds simple but the number one, most common reason for failure is poor execution. We can all make a plan but then getting it done the key. One way to help with this is when you are making your plan, write down and list who is responsible for what, and when. It's called assigning accountability. Setting timelines for all the parts of the plan will help you measure and manage moving forward with your plan. And I always say anything you measure, you can affect. 

The Bottom Line

Any real estate transaction can be complicated but every deal can go smoother when you follow this 4 step rule. Take the time to to do it right.

Scott's Advice

You really need help with your real estate deal. Hire a professional. Or at least talk with one. Any pro will have valuable information for you. It will be either new info or it will be to remind you of something you already know. If you are buyer, there is absolutely no reason not to work with a buyer's agent (their commission is paid for by the seller). If you are selling your home and think you want to try to sell it yourself, I still think it's incredibly important to meet with a agent. They will either show you how you need them or they will give you some knowledge that will make your transaction more successful. 

And if you need help, I know a guy.



Scott C. Dickinson is a real estate broker who lives in beautiful Vancouver, WA but helps others with their real estate needs all over the US. He can be reached by email at ScottYourBroker@gmail.com or call him at 360-518-7197. Check him out online at linktr.ee/yourbrokerscott.