In the NFL players talk trash all week prior to the game, they play physical and all out for 60 minutes and at the end of the game, shake hands. No matter who wins or loses when the game is over friends are friends again, old college team mates are reunited and many times opposing players kneel at the center of the field and pray together.
Why would I compare the NFL to real estate? I have just had a settlement where I represented a first time home buyer and a REALTOR friend and old business partner of mine with a competing company represented the home seller. It was just like an NFL game without the physical contact of course, but there was trash talking, going up and down the field with negotiations, the ball constantly changing hands.
I have been in real estate for 24 years and settled hundreds of transactions and as I left this one, it hit me that it was perfect. Not that there were not issues like home inspection repairs and under appraisal, it was perfect in the way that every one handled themselves perfectly during the transaction and afterward.
From the moment the offer was submitted, as an insider or outsider, you would not have known that the real estate agents knew each other, much less were friends. There was no small talk, it was all about the fiduciary responsibilities, I being advocate for the first time home buyer and she the home seller.
There were normal negotiations like the initial offer price and terms going back and forth a few times and the home inspection repairs, similar counter offering. Then there was the not so normal under appraisal and the difficulties associated with working through it. It all worked out, not because of the REALTORS, but the home buyer and home seller were fair and reasonable, each making acceptable compromises.
There is one major difference with the NFL and a real estate transaction. In the NFL one team must win and one must loose, in a real estate transaction all parties must win. This is best described in a quote that I live by, author Napolean Hill from the book “Think and Grow Rich”.
“I fully realize that no wealth or position can long endure unless built upon truth and justice. Therefore I will engage in no transaction that does not benefit all whom it affects.”
A real estate settlement should be a pleasant experience. At the end of every real estate transaction there should be handshakes, laughter and hugs, if not, everyone loses.
Jim Whittaker specializes with First Time Home Buyers, more info on the Whittaker Team at http://TheWhittakerTeam.com