Who are all the players in the game of a real estate transaction?
It could be said that it takes a village to bring a real estate transaction to completion. The typical players or cast of characters include the sellers, the buyers, two real estate agents, two attorneys and/or paralegals for the clients, the home inspector, the mortgage originator, the appraiser, title insurance reps and bank personnel (processors, underwriters etc).
This list can expand exponentially if additional personnel are needed either before, during or afterwards. This crew could include painters, carpenters, electricians, plumbers, exterminators and remediation experts just to name a few.
As the list continues, we also might include third party consultants or as I affectionately call them “insultants.” These folks are either financially involved in the process or coming along to help guide the buyers either as well meaning and experienced relatives (“Uncle Louis”) or “experts” in home engineering.
Each participant has a part to play whether it’s a roofer who needs to obtain a permit at town hall to begin a project or get the Certificate of Occupancy when the job is complete or the landscaper who is spiffing up the home’s curb appeal before the home hits the market.
Obviously, if one of these involved parties drops the ball, the original time frame will need to be extended. Because human beings are not perfect, delays are inevitable.
Of course, the primary cast of characters are the Realtors and the clients they represent. It’s the job of conscientious Realtors to keep the process moving along on a schedule that eventually comes to the closing.
Great Realtors are like project managers, constantly monitoring all of their subcontractors as they troubleshoot, communicate, problem solve, encourage, stay positive and keep a watchful eye on the dates of the established timetable.
Coldwell Banker Residential Brokerage, (203) 209-3157, firstname.lastname@example.org