What Kind of Training is Involved in Becoming a Real Estate Agent

Ever wonder what type of training is involved in becoming a real estate agent? This is a common question we are asked and wanted to take an opportunity to answer it for you below!

Before we get too far into the nuts and bolts of real estate training, we should mention that every state has their own regulations and policies in regards to training and licensing requirements. However, many states do have similarities in the process which we will be summing up for you later in this article. We do encourage you to visit our licensing requirements section to get a more detailed overview of your states requirements. If you are unable to find the information you are looking for, you may also choose to visit the Department of Real Estate or Department of Licensing for your state, they will be able to help you from there.

Types of Training

So, there are essentially two types of training for real estate agents, online and offline:

Online real estate training is not an acceptable form of training in all states at this time. Although, many states do allow online credits to be used for your license. These states include, but are not limited to, California, Florida, New York, Texas and Washington. Online courses are an excellent option for those of you with busy schedules since they allow you to work at your own pace and around your schedule. Many people find that working in the evenings or even on their lunch break allows them plenty of time to complete their training without conflicting with work and family time.

If you are interested in taking your courses online we recommend that you visit our online real estate course page to get started.

Offline real estate training is the more widely used option and of course, is the approved training method for all states. While your course credit hours will remain the same, you will not have the flexibility of completing your training around your schedule. You may also find that the schools in your area are limited on the number of classes that they offer each month. Generally, real estate courses are offered in the evenings and on weekends but you will need to commit the time to actually attending your training in order to successfully complete it.

Some people find that they learn better in a classroom setting as they are able to have a more personal interaction with the instructors as well as the other students. While this is not the case for everyone, you may benefit from this more hands-on environment.

Required Credit Hours

The number of hours required to complete your training varies heavily from one state to another, but, the standard range is anywhere from 40 to 65 hours. These depend on the type of licensing you are receiving, such as salesperson or Broker and that state in which you are becoming licensed.

What Does the Training Cover

Generally speaking, your real estate training courses will cover topics such as real estate law, practice, contracts and finance in addition to several others depending on state requirements. These courses have been designed to give you the knowledge you need to successfully complete a transaction from start to finish including completing the contracts and assisting your clients with making a good purchase. Most courses do not cover subjects on marketing or running a business, so these may be something you want to look into before getting started as you will need business and marketing skills to build a foundation for your new real estate business.

I Just Got My Real Estate License How Can I Start Getting Clients

Thomas J. wrote us with this question: I just got my real estate license but I am really not sure how to start getting clients? Can you give me some advice to get started?

Wow! What a great question Thomas and a tricky one to answer as well. On this website you will find that we have advised new agents to plan for some downtime when they first get started. If someone told you that you could get your license and be bringing in new clients in a month, they lied. This rarely if ever happens in the real world. You see, clients are how we make money, real estate agents earn a commission on their sales, so no sales equals no money. It’s the hard truth.

So, clients are the foundation of our business and you often find that the most successful agents have the largest list of clients. Because the more clients you have the more opportunity you have for direct sales and referrals from friends and family members. But how do you build your client list? Well, you have to market yourself. Marketing is an art in itself and while it can take years to master, you don’t need to master the art in order to see some positive results. We offer a fair amount of information on successful real estate marketing on this website, but here are some tips to get you started:

Take advantage of print advertising:  Believe it or not, print advertising is still an effective tool for marketing a real estate business and there are a lot of outlets to use. You can run ads in newspapers and local classifieds as well as in neighborhood fliers, mailings, billboards, buses, you name it. Pass your business cards around, tack them on the wall at your local grocery store and if your child’s school sends out newsletters ask about advertising in there as well. You are only limited by your own imagination and your budget.

Develop a website: The Internet is an excellent way to attract new clients and believe it or not, a lot of real estate agents haven’t taken advantage of these online opportunities yet. Now, before you get too excited, setting up a website and forgetting about it isn’t going to get you very far. You need to setup a website publish articles regularly, network with other real estate agents online, join some of the online real estate communities and share your knowledge there, read up on how to get exposure for your business through social media. If you can learn how to harness the power of sites like Facebook you can attract tons of clients, but it has to be used effectively. This is not something you are going to learn overnight.

The thing that you have to understand is that marketing is an entire topic all by itself, not something that can be covered in a single article. But what you should know is that it works, plain and simple. Marketing yourself properly will get you clients walking in the door and start making you money, but you have to set that foundation first. Advertising locally will probably get you the fastest results, so start there and then start expanding into online media and really take the time to learn the tricks. If you can learn what to do and how to do it well, you will never have to worry about finding clients again.

Everyone"s an Expert – or not!

When you begin working with your real estate agent, you are going to find that all of the sudden, everyone is an expert in real estate.  There are friends and co-workers that have recently purchased homes, there is of course family who don’t want to see you taken advantage of, and even people that because they have been through a purchase of a home, regardless of how long ago are still under the impression that they know exactly what homes cost, how much you should pay in interest rates and how to word a contract to your best advantage.  And we being human, and caring about what our friends and family think, listen to all their words of wisdom.

That being said – When you hire an expert for their advice and guidance, it is rather like shooting yourself in the foot to tell them that ‘my dad said that I shouldn’t pay over $68,000 for a house that size’ or ‘my friend just bought a house last year and said its a buyer’s market so I should offer $15,000 less that asking price’.  The agent that you are working with, is an expert in his/her field.  She/he knows the current market, can advise you honestly what would be a reasonable offer for a home, can give you accurate information about the property.  So why do so many people believe their friends, family and co-workers over their agent?

The problem is that Real Estate agents have gotten a bad rap, because of a few disreputable people in the industry and a rather rocky past without real estate laws in place.  Most agents are fine upstanding people, usually hard working and community oriented, and not at all the villainous monsters that they have been stereo-typed as.

When you hire an attorney a doctor or a plumber, you expect them to be experts, you listen to their advice (even if you choose not to take it) and most people don’t second guess them or take the advice of a layperson over their expert.  Uncle Harvey may have died of ulcers in 1902, but if you follow your doctors advice, you’ll more than likely get through this with a little change of diet, medication and stress reduction. My point is that you are not likely to buy a home for the price that your folks did 15 years ago.  The real estate market fluctuates and what was a buyer’s market 6 months ago may be a very hot seller’s market now or it may have slowed down with very few homes on the market.  Interest rates are up or down, property taxes vary even within the same city and the only expert out there is your agent.

Real estate laws are changing all the time to protect the buyers and sellers.  Real estate agents are bound by these same laws, to protect and work toward the best interest of their clients.  Real estate agents also are bound by a code of ethics that have been set forth by the National Association of Realtors (NAR). Breaking real estate laws, or not practicing ethically can not only cost an agent their license, but will usually involve hefty fines and even jail time.  It is not something that most agents take lightly.

You have hired a real estate expert, even if you aren’t paying them a thing, give them the respect that an expert deserves.

Fine Tuning Your Home Search

You’ve found a Real Estate professional, you’ve pre-qualified for a loan, and now the search begins.  What is it you’re looking for?  Did you know that a large portion of home buyers purchase a home that is completely different than what they told their agent they wanted?  It’s true! This causes three main problems;

  1. The search time is greatly extended
  2. The buyer gets frustrated with the agent for not showing them the houses that they want. The buyer usually going to a different agent because the first wasn’t doing a good job
  3. The agent gets frustrated because invariably the buyer changes their minds about their search several times

So how do you get around this huge pitfall of home shopping?  It’s really very simple and will only take a small portion of your time and your agents time. But it will help you fine tune your home search, ease your stress levels and cut your search time – all while helping you find the home of your dreams.

First, you will need a note pad and a pen.  Get everyone who will be living in the new home together and ask them two questions – What do we have to have in a home? and What would we like to have in our home?  Now start your list.  Must haves on one side and would likes on the other.  Everyone has a say and regardless of how “out there” the idea is write it down on one side of the list or the other.  Here is an example:

Must HaveWould Like
3 bedroomsBasket ball hoop
2 1/2 bathspool
Dining roomtheater room
3 car garageGuest house
Fenced back yardflagstone patio

And so the list goes.  Now because you’ve already been pre-qualified for a loan, you should have a general idea of what price you are comfortable with for your purchase.  So for those of us, who don’t have all the money necessary to buy the multi-million dollar mansion – it is time to take off the blinders and remove the silver spoon.  If you have a budget of $200,000 you will probably not be getting a fly-in property with your own hanger, swimming pool and 10 car garage.  But don’t think that you can’t get some of the things that are on your would like list…  It’s time to talk to your agent.

Step two, take your list to your agent and let them look it over (here comes the hard part – are you ready) you have to listen to your agent at this time, HE OR SHE IS THE EXPERT….not your uncle, the guy you work with, your brother-in-law, or your Aunt who lives across the country.  Your agent knows the market, in the area you are looking, they have seen the homes, they know what you can reasonably expect to find in your price range.  Let them help you re-make your list into what is obtainable.  The fantasy can wait until the lottery comes in.

Step three, armed with your list, and a note book for jotting down likes and dislikes about the houses you are viewing, and a grocery bag, go out and look at three or four.  On your note pad write down the address of the home then divide the page into pro and con columns.  As you go through the houses fill in the note book.  If you come across a home that you absolutely do not like – throw the MLS print out, your pro/con sheet and any flyers on the property into the grocery bag (yep it’s trash and if it’s not in the running get it out of your hands.)

Step four, now that you’ve seen a sampling of what is out there, and your armed with your pro/con lists, it is time to re-evaluate your Must have/Would like list.  Did you see any features in the homes that you toured that you really would like?  Did you change your mind about the Ranch home because the 2 story homes have so much more yard? Do you think you can work with a open floor plan instead of having a formal living and dining room? Once you’ve re-worked your list, get it back to your agent, so that he or she can refine their search criteria and begin narrowing down your search.

You may need to repeat steps 3 and 4 a few times until you are satisfied, but it may only take once for you to find your dream home.  Following these simple steps will help you find your dream home, and in the process alleviate a little stress and frustration from your transaction.  Happy home hunting!</p

You’ve Decided to Buy a Home

Great decision, but is it informed? There is much more to buying and owning a home than a simple ‘it’s time to buy’ decision – that is unless you happen to have so much disposable income that you don’t need to even think about the financial obligations. Do you?

Let’s break this down into manageable sections, Financial, and Labor. If you’ve been renting, you know about financial obligation concerning making monthly rent payments, your utilities bills etc. You probably haven’t had much hands on experience in the labor department though, and it is a large part of owning your own home.

Financial – a list of miscellaneous expenses associated with owning and maintaining your home:

  • Mortgage – Principal and Interest (PI) Usually quite a bit more that your rent payment, this is only a portion of your total mortgage the rest is taxes and insurance, combined it is known as PITI.
  • Property taxes
  • Homeowners Insurance
  • Utilities, including electric, gas (oil, coal, wood), water, sewer, refuge pickup, telephone – these are just the necessities.
  • Additional Utilities – cable TV, Internet connection, security service, and such possibilities as landscaping, pool cleaning the list goes on and on.
  • General Maintenance and upkeep, including painting, replacing worn out fixtures, etc.
  • Tools needed to maintain home – tool kit including, hammer, screwdrivers, pliers. Garden tools – lawn mower, edger, trimmer, ladder. Just to name a few.
  • Repairs – differs from general maintenance and upkeep, this is when the dishwasher, or the hot water heater actually stop working, usually causing considerable mess in the process. Or broken windows, damage from natural phenomenon such as earthquakes and floods.
  • Home improvement – adding that extra bath, or the pool you’ve always dreamed of are often quite a drain on your bottom line.

This is the perfect time to set up a budget!

Labor – The hands on manual portion of buying your home and maintaining it afterward.

  • Yard maintenance, including mowing, gardening, pruning trees and bushes, weed removal, leaf removal, and snow removal, etc.
  • Exterior maintenance, including, painting and associated preparation for painting, cleaning gutters, cleaning and maintaining decks and walk ways, fence repair, cleaning siding, moss and mold removal, weather proofing, etc.
  • Interior maintenance, general cleaning (it will probably be larger than your apartment), replacement/repair of leaking faucets, windows, doors, carpet and floor cleaning and care. Painting, replacement of electrical fixtures, sockets and switches, up keep on heating and cooling system, including filter changes, duct cleaning and insulating.
  • Unexpected repairs, including water damage, appliance replacement, fire or smoke damage, weather damage, even the fist through the wall needs to be repaired (most likely the fist and the wall)

The task is not as daunting as it seems, and is in fact very rewarding. Now you have the information, and the resources to make an informed decision to buy a home.

Qualifying for a Mortgage

Within moments of your first interview with a real estate agent, you’ll here the words “Prequalified or Preapproved for a mortgage“. Now isn’t the time to run for the hills. Most home buyers, buy with the help of a mortgage. So unless you can dig up a few hundred grand from the back yard, sooner or later you’ll need to speak with a mortgage lender. Don’t fight it. Here’s why:

In your home search;

  • Helps to set your spending limit
  • Allows you to focus your search realistically
  • Aids your real estate agent in selecting homes for you to view.

In your home buying negotiations;

  • Gives you an edge against a competting bid for a home, if the other buyer hasn’t been approved, the seller now knows that you can follow through on the purchase.
  • Shows that you are a serious home buyer.

Do’s and Don’ts of selecting a mortgage lender.

  1. Do look at your credit prior to speaking with a mortgage lender, there are several websites that allow you to check your credit report, if there are any blemishes or errors, get them fixed, not doing so could very well cost you money, high interest rates or keep you from buying altogether.
  2. Do ask your real estate agent for his/her recommendation, you should get at least 3 names.
  3. Do interview the mortgage lender, ask questions, and if you’ve never had a loan, take along someone you trust who has.
  4. Do look at the mortgage companies fee schedule. (amount they charge to loan you money)
  5. Only when you’ve narrowed your search down to 2 companiesdo you let them pull your credit report.
  6. Do ask the mortgage lender if they will provide you with a preapproval (prequalification) letter.
  7. Don’t go from company to company letting everyone check your credit. (it will bring down your score)
  8. Don’t settle for just one name without researching, it could cost you hundreds of dollars.
  9. Don’t go out a buy a car, furniture or other high ticket items after you’ve qualified for a mortgage. Nothing kills a deal faster.
  10. Don’t switch mortgage companies in mid transaction.- Some times it may be necessary – closure of mortgage company, etc. but in the long run, it causes delays in closing and usually irritates everyone involved in the purchase of your new home.

You are a Savvy Buyer and this is your future, be in control. Not just of the home you buy, but of the people you choose to do business with.

Shopping for a Real Estate Agent

Scenario 1 – You are driving through your favorite neighborhood, you see a for sale sign on one of the properties. Grabbing your cell phone you frantically punch out the number on the sign and speak with Agent X. Agent X rushes out to the house and gives you a two and a half second tour of the home, moving you through quickly and gushing on and on about what a great find this home is, and how she showed it only this morning, and the couple was very interested and would be writing up an offer this evening. Agent X then pulls out a contract and the next thing you know, your John Hancock is on the bottom line…. and you were just looking. This couldn’t happen right.

You are mostly right, although I have seen it a couple times. Most Real Estate Professionals are extremely ethical and truly want to see you in a home that you will enjoy for years to come. The most important thing that I want to point out about scenario 1 is this – the real estate agent you called works for the seller. His/Her job is to protect and promote the sellers interest, and to sell the sellers property. He/She does not work for you, and in this scenario I doubt that Agent X had your best interest at heart.

Shopping for a real estate agent is extremely important, perhaps the most important prospect of the whole home buying endeavor. You want someone who will work for you. Who will give you sound advice, even if that advice is to seek legal counsel. And someone who will not shuffle you through the home at break-neck speed, shielding you from the flaws, or problem areas of the home. You need a Buyers Agent.

How, can you find this miraculous paragon of virtue, who will no doubt cost you an arm and a leg, but protect you against all manor of ruthless home sellers, and find you the home of your dreams? (OK, so maybe I was a little heavy on the sarcasm but you get my drift). To answer your question — ASK!

That’s it. Ask your friends, co-workers, your family, anyone who’s judgment you trust, that has recently gone through a real estate transaction. Ask them about their agent. Were they helpful, did they answer questions completely, did they respond quickly? Are they familiar with the area that you are looking in? Ask questions, you’ll be surprised at how many people really like their real estate agents, and how many would happily and without reservation recommend them to a friend. That in itself will tell you a lot about the agent.

Your next step is to interview them. Call and set up an appointment, you don’t have to go look at homes, but you should have a list of what you want with you. Ask how they do business. Are they a Buyer’s agent or Seller’s agent or both? How long have they been in business? How do they like to communicate? What kind of time frame should you expect on returning calls or emails? How often do they send out update of properties in the area to their clients? What type of properties do they specialize in? Talk to them about area schools or other area concerns or interests. Get to know them. That is the only way you are going to find one that is in sync with your wants and needs. Interview a few agents before you pick one.

You may be asked to sign a Buyer’s Agency agreement. Not to worry. This contract states that you will work solely with this agent, and she/he will work for you. That way, you know for sure, who’s interest the agent is working toward. This agreement often has a percentage fee in it. Don’t panic. This fee is generally for homes that are for sale by owner, where the agent wouldn’t be getting a commission fee from the seller (which is usual) Discuss this with your agent and come to an agreement that is satisfactory to both of you. If nothing else, don’t look at homes that are for sale by owner (FSBO), thus avoiding the fee.

Give your agent a list of what you are looking for in a home, along with a general price range. She/he will let you know if you are on track or if what you’re looking for is beyond your reach as far as price. You agent will help you hone your list, getting rid of the pie in the sky wants and bringing you down to what is in reality the best for you and your budget. It’s ok to want a mansion, but unlikely you’ll find one for $150K that still has a roof attached.

Keep in touch, let your agent know that you are actively looking for a home, and keep them informed of any changes that you’ve made in your list. If he’s looking for two story homes, and you’ve set your heart on a rambler but didn’t tell him, your home tours are going to be less than satisfying.

Respond quickly to emails, sometimes a new property comes on the market that isn’t going to last. If your agent can’t get a hold of you, you’ve just blown an opportunity! Never a good thing. Remember to let her know if you’re going out of town, or if something has come up to postpone your home search for the moment.

Your agent is an expert in her field. Treat her as such, and listen to her advice. Ask for referrals to mortgage companies (look for at least 3 options). And get qualified for a loan (if needed), it can be a major bargaining point when you begin negotiations for your home.

Your research and dedication will help you find the agent that is right for you.

Time is of the Essence

In most contracts you will find a time is of the essence clause, real estate purchase and sales agreements are not the exception.  What is time is of the essence? In short it is a time frame that if not met usually results in a penalty – in real estate this can mean voiding of the contract, waiving of rights (such as right to inspect), and could possibly cost you money.

Your time lines begin when the contract is first written, the buyer generally gives a time frame for the seller to respond to the contract. If there is a counter offer, there is often another expiration time for the buyers response. Where this really comes into play is after you have a signed around contract.

When the purchase and sales agreement has been signed by both parties the clock begins ticking, you have “X” amount of days to do a home inspection, a neighborhood inspection, water/well/septic inspections, get home owners insurance, apply for a loan, etc.  This is not the tme to jet off to the Bahamas or go visit Aunt Alma. Skiping any of these steps, or failing to preform and inform the seller by the allotted times could end up costing you. If, for example, you didn’t gt the inspection done, the sale closed as agreed, and after you took possession of the property you were to find, toxic mold, asbestos, dry rot, water damage, unsafe electrical, well… Lets just say that the court doesn’t always favor the buyer for not preforming, nor does it always punish the seller for not knowing that there was mold under the house.  The clean up, repair, replacement often ends up as the sole responsibility of the new home owner. OUCH!

Not preforming due diligence with something like a neighborhood review can mean that instead of the nice quiet neighborhood you viewed at 10:30 in the morning, you may find out that the neighborhood has a high crime rate, drug problems, or is excessively noisy, or even that the neighborhood is being targeted for a development that will cost you all or part of your property.

But what happens if you do get a home inspection, find that same toxic mold and within time frames notify the seller.  If you’ve done all the steps, several things can happen. The owner can fix the problem, or if the owner can’t afford the repairs – you can negotiate to pay all or a portion of the repair, or you can simply walk away from a problem, getting your earnest money back in the process.

My advice to you – write down all your time frames, or put them into your PDA. Make sure you’ve got enough time to preform your due diligence. Keep the lines of contact open between you and the seller, notifying them in writing when you’ve completed each time frame. Buying smart, is of the essence!

How to get a good mortgage refinance deal?

If you opt for mortgage refinance, it is undoubtedly a good way of keeping foreclosure at bay but you need to strike the right kind of deal for the same. There are many mortgage lenders in the mortgage industry and not all are dependable. One of the main factors that will decide the success of your mortgage refinance is the lender you choose. Following Obama’s Mortgage Bailout Plan, many lenders have become flexible and can work out ways to help you in saving your dream home.

There are many factors that should be taken into account if you are planning a mortgage refinance in addition to choosing the right lender. Given below are few aspects that need to be considered prior to taking the plunge –

Identify the purpose of refinancing

There are many reasons why homeowners opt for mortgage refinance. Some of the common reasons are as follows –

* Better rate of interest

When you opt for mortgage refinance, it is usually done so that you enjoy better mortgage rates that make your mortgage payments affordable and allow you to stay regular with your payments throughout the term of the loan.

* Switching from ARM to FRM

ARM or adjustable-rate mortgages are good as long as the rates are low. However, if the mortgage rates increase, you will have to pay higher each month. So, to do away with uncertainties in your monthly mortgage payments, many homeowners switch over from ARM to FRM so that the payments are predictable and fixed. This is usually done through mortgage refinancing.

* Shorten the term of the loan

If the original loan term was 20 years and you want to wrap up your mortgage payments earlier, you can refinance to shorten the length of the loan. In this way you will also be building equity in your property.

* You need extra cash to fulfill your financial obligations

Many homeowners opt for mortgage refinance so that they can get access to some extra cash that will enable them to meet their other financial obligations. This may include making payments for your credit card bills etc. This is possible if you have enough equity in your home. This is referred to as Cash-out refinancing.

So, it is important to identify why you need to refinance your mortgage. Next is to shop around for a good lender. This is equally important. These days you may come across lenders that waive off closing costs and points etc. However, if the lender waives off these expenses, make sure they don’t compensate in form of higher mortgage rates. So, you will have to be very careful before you finally settle for a mortgage refinance deal. Unless your objective of availing mortgage refinancing is clear you will not be able to convey the same to your lender.

You can shop around for the right mortgage lender online. This becomes easier as you will be in a position to shop around for better rates as you will get the opportunity to compare rates offered by different lenders.

Signing the Contract

If this is your first home purchase or it’s been a few years since you’ve purchased a home it is always a good idea to read through a contract, and any addendum that would be attached to the type of property that you are looking for.  The best time to do this is before you’ve decided on a home.  Why?  Well, contracts regardless of how well they are written, tend to always protect one party more than the other and real estate purchase and sales agreements are no different.  The are often worded in a confusing or illusive manner, and usually difficult to understand by those not familiar with them.  So take the time to read them over carefully, before you start writing offers.  Have your agent read and explain them if you’re having trouble with the legalese.  Or have your attorney review the contract and counsel you on them.  Being a well informed shopper is definitely in your best interest.

When you’ve found a home that you like, write an offer (contract or purchase and sales agreement).  This will include the price that you are offering the seller for the property, the amount of down payment you intend to make, the type of loan that you are applying for, the amount of earnest money (good faith money) that you are putting down, and the closing date for the sale, as well as a list of what you want included in the purchase of the property (i.e. draperies, washer and dryer, refrigerator, etc.) Be aware that this is only an offer the seller can and often will counter your offer.

Your agent is there to offer advice, but you have the last word when it comes to writing up your offer.  Just remember that if you really want the property, you probably don’t want to make a ridiculously low offer or ask them to leave everything in the home for you with out compensating them for their possessions – this seems to tick-off sellers and after you’ve ticked them off they don’t usually wish to enter into serious negotiations with you. Just so you know…

You also need to be aware that if it says on the Multiple Listing that (for example) the washer, dryer and riding lawn mower are included in the sale (or what ever else may be listed as coming with the property) —your agent needs to write an addendum that states that the washer, dryer and riding lawn mover are included in the sale of the property at no additional cost to the buyer.  This may seem like over kill, but every now and then, these things get left out of the contract and get packed up with the rest of the sellers possessions and carted off to their new home and the buyer ends up with out what they were expecting – and without recourse to get them because they weren’t in the contract.

Counter Offers – Any change on the purchase and sales agreement, made by the seller, automatically puts the offer into a counter offer situation.  Changing the price, the closing date, the title or escrow company, etc.  When you receive a counter offer back from the seller it is time to re-evaluate, is the house still your dream home if it is going to cost you $10,000 more?  Will you still be able to purchase it if the closing date is move up a month?  Can you still purchase it if you have to go out and purchase a stove, refrigerator, washer and dryer?  Regardless of what changes the seller made to the contract, you must decide if it is in your best interest to go ahead with the purchase or to back away.  Going ahead, doesn’t necessarily mean accepting the terms set forth by the seller. Negotiation is the key.

Negotiation can easily make or break a sale.  Remember that your agent deals in negotiation, and he or she will go about it with a cool head and without the baggage of emotions that can drag a deal down very quickly.  Let your agent do his/her job.  He/She is the professional and this is what you hired him for.

When negotiations are done and you’ve been rewarded with a signed around contract, don’t set back and wait for everything to fall into place.  You have due diligence to preform for this contract. And time is of the essence.