Why it’s Necessary for Realtors to Talk a Lot

January 23, 2018 Examiner Media Home Guru

By Bill Primavera

You’d never know it to meet me today, but I was born with some kind of neurological condition that resulted in my reaching the age of five without speaking a word.

That was in the days before autism spectrum disorder had been diagnosed and certainly there was no treatment available for kids like me who were non-social, withdrawn and didn’t verbalize.

But from what my mother told me, I completely and miraculously recovered from whatever that condition was on the final day of a nine-week novena she made at St. Donato’s Roman Catholic Church in West Philadelphia. Far be it from me to question miracles, but I haven’t shut up since.

While I was able to speak, I still had to challenge myself to become more socially interactive. I debated and wrote for the school newspaper. Once out of college, I was a newspaper reporter and later became a public relations practitioner, all jobs that require verbal communication.

But only when I ventured into real estate did I find myself talking all the time. And from what industry studies show, that’s a good thing.

At a convention I attended early in my real estate career, I was impressed with the message of one of the keynote speakers who identified the chief “irk” that sellers and buyers have with realtors – lack of communication. Specifically, the speaker said that the most common real estate situation that negatively impacts realtors’ clients is inadequate disclosure.

She went on to paint scenarios that might convince potential homebuyers and sellers to have frequent heart-to-hearts with their realtors to know as much as they can about the entire process, particularly what is likely to happen next.

In defense of myself and my fellow real estate professionals, I would say that out of self-preservation, we’re way ahead of the game. I’ve never heard any group of people who talk as much as realtors do in their mission to inform clients.

But the real estate purchase or sale process is so complex and so all-encompassing a discipline that the totally unexpected or unknown can happen at any time. And it’s the realtor who can get blamed for lack of disclosure.

There are the standard disclosures, which sellers and realtors sign when taking a listing: the disclosure of agency that identifies the relationship of the realtor to the seller; a lead disclosure if the house was built before 1978; and the affiliated business disclosure so that sellers can be aware of the other businesses which the realtor’s company owns.

The big disclosure that most buyers and sellers relate to is the property condition disclosure in which the seller identifies all the known defects of a house to its buyer. While it is required in many states, such as California where the code is particularly stringent, in New York the seller may choose not to issue such a disclosure, but rather pay $500 at closing to the buyer. The overwhelming majority of sellers choose this option rather than risk being liable for serious house defects.

Above and beyond these expected disclosures are those that require a simple explanation before the fact rather than after. Nobody likes surprises or hearing, “Oh by the way,” when it may be too late to be informed. This is best accomplished by the realtor preparing a list of frequently asked questions such as “Do I need a lawyer” or “Who pays the commission?”

Besides asking such questions, realtors might also present a list of what sellers or buyers can expect along the way, including realtors who make appointments to show your home will sometimes be late or not show up; know that the HGTV shows are scripted; expect that the closing date will be delayed; and expect that you won’t know until the last moment how much money you must bring to the closing.

The more realtors paint a futuristic picture, especially accompanied by stories of personal experience, the better sellers and buyers will feel empowered to make informed decisions. That kind of clear and open communication is what helps avoid a misunderstanding, missteps and/or unlawful acts.

Recently I was in Philadelphia and happened to pass the church where my mother told me I was miraculously granted my ability to speak. I looked at the impressive church doors and recalled walking up and down the granite steps, holding my mother’s hand all those years ago.

It brought a lump to my throat, nudging alongside my voice box that has had a lot of practice in recent years as a realtor who blabs on and on to clients about what’s going on.

While Bill Primavera has enjoyed careers as a journalist and publicist, he is now a Realtor® associated with William Raveis Real Estate, specializing in upper Westchester and Putnam Counties. To engage the services of The Home Guru Team to market your home for sale, call 914-522-2076.