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Tuesday, November 30, 2010

Finding "The One"

Prelude to a Deal

Courting my wife in Manhattan in the late '90's, I remember my (quick) progression from "Friend," to "Special Friend," to "Boyfriend," to "fiance," to "husband."

(The only interim title that I really objected to was "Special Friend," which sounded vaguely insulting.)

Is there a similar progression in a real estate "courtship?"

Reading the Signs

Usually, there is.

To the Buyer's agent, something about the client's demeanor during the first showing will be a little different, more serious -- see, "Like (vs. Love) at First Sight."

Afterwards, the Buyer's Agent will typically appear on the Listing Agent's radar with some positive feedback and follow-up questions (see, "When Do You Tell the Seller?"), and to make sure no other offer is imminent.

The next step is typically a second showing, and, if the Buyer is contemplating major work, a third showing.

After that comes the offer and negotiation.

The "Fickle Factor"

Just like in real courtships, occasionally Buyers who look poised to make a deal suddenly flake out(?) and disappear.

At the other extreme, some lucky Sellers' homes will be swooped up by a Buyer who seemingly appears out of left field.

In general, however, most deals -- like relationships -- are characterized by a promising introduction, followed by steady, intensifying interest.

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