Whether you sell golf courses, condos, malls or timeshares, solid, purchase agreements are probably among the most familiar documents in your real estate business. Customizing these essential documents is often a key element to sustained success.
In some cases, such as sales for new developments, a standard contract for every buyer might make sense. However, that standard contract should probably be specific to the general situation. Basically, having the security and specificity you need for every instance has the potential to make a big difference.
Avoid common pitfalls
Sometimes, the most basic practice information is the easiest to forget — each piece of real estate is unique, for example. As mentioned on FindLaw, standardized brokerage agreements do not always cover every eventuality.
You know this as an agent, but the proliferation and convenience of these boilerplate documents are often a temptation. Custom contracts often go a long way to prevent confusion and delay associated with last-minute revision of standard forms.
Prepare for uncertainty
A good purchase agreement should protect everybody involved in the transaction. That includes the sellers’ interests, the buyers’ options and all of the hard work you have put in on the brokerage side. As the stakes get higher, this element of the agreement tends to become more important.
Build client loyalty
First time home buyer or real estate magnate: Nobody likes to feel like a number. Besides the practical element of securing the transaction, providing customized purchase agreements is just good business. They show your clients that you care — and that you are willing to put in the work necessary to ensure a smooth closing process for everyone.
Of course, the purchase agreement is just one part of the business. Please continue on to our main site for more information.