The Orchestration of a Real Estate Transaction

This weekend is Memorial Day which makes the think of the beach.  One of our favorite resorts is The Breakers of West Palm Beach.  A top manager there shared with me on a recent visit that the coordination of the services at a luxury hotel to that of an orchestra director.  The conductor is key to the coming together of many unique instruments playing sounds at just the right time and place in order for beautiful music to occur.  In a hotel with the rich heritage of The Breakers, it means team members making certain everything is in place at the right time.

In my profession as a Realtor®, the coordination of a myriad of details in the process of helping people buy and sell homes also requires a master conductor in my experience.

In the marketing and selling of a home, the following are just a few of the details that the Realtor® orchestrates:  photography of the property, preparing a marketing brochure, consulting with the client on improvements and/or staging, obtaining a plat from the county or homeowner, entering the property into MRIS and distributing to numerous internet websites, configuring a virtual tour, hosting a Broker’s Open with refreshments for other agents to view the home, installing a sign and lock box (if appropriate) or showing the home by appointment, having Sunday open houses if desired by the Seller, advertising in newspaper and other media outlets, sending out “Just Listed” postcards to the neighborhood to reach potential purchasers.  Until the property receives an offer, many of these aspects of the marketing chorus are repeated, in addition to contacting all the agents who have shown and/or previewed the home to obtain feedback and keeping the Seller apprised of market conditions. 

Once an offer is received, then the negotiations commence, a new verse in the orchestration analogy. Contract negotiations require an entirely other level of expertise.  A master Realtor® contacts all other parties who have seen and expressed an interest in the property to see if additional offers can be generated, and or the current offer be bettered.  The Realtor® works together with the cooperating agent on the other side to provide the best possible outcome for the client.

After the contract has been ratified, which is when all parties have agreed to all the terms in writing and the offer has been delivered, the next verse begins.  These are but some of the many steps that can occur:  home and radon inspections performed and agreement reached between parties; home or condo association documents obtained, delivered and acknowledged; meet the appraiser at the property to provide comparables and documentation of improvements; application made for property insurance; application and completion of all underwriting requirements for lender; wood-destroying pest (commonly known as termite) inspection completed; delivery of copies of the contract to and complete necessary paperwork for settlement company; determine if a re-issue rate is available on title policy and obtain documentation if necessary; be certain the survey and title have been ordered and all is acceptable to parties; verify that the earnest money has been deposited and the funds have cleared; coordinate septic and well inspections if applicable and repairs/replacement as necessary; coordinate the performance of any work required under the contract and agreed to by parties and provide receipts to parties; complete home warranty paperwork if applicable;  obtain a HUD-1 from the settlement company for review by all parties; coordinate the walk through inspection; and attend settlement with the client.

As you can imagine, harmony can flow from all of these efforts, or there can be great discord.  “Experience You Can Trust” has been the motto for the Huckaby Briscoe Conroy Realty Group since 1977.  In dealing with the purchase or sale of a home, which is frequently one’s largest financial asset, shouldn’t you be working with a Realtor® who is a master conductor, who has the experience you can trust?   Karen Briscoe and Lizzy Conroy are active and experienced Realtors® in the Northern Virginia, suburban Maryland and Washington DC market place and would be delighted to assist whether for home buying or selling.  Please contact via the means most convenient for you:  www.HBCRealtyGroup.com, 703-734-0192, Homes@HBCRealtyGroup.com.