S.E.C. Real Estate Observer

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Editor’s Note: This article was initially published in the Real Estate News Observer in 1974. It was the second part of a two part article by Dick Reno explaining the format, rather than formula, of the 7 C’s of modern real estate exchanging and counseling. Enjoy!

4. Concentrate

The next step now would be the concentration by the listing exchangor — concentration on the problem that has unfolded, coupled with using the vehicle, the property, that accompanies the problem at hand. It now becomes necessary to concentrate in order to get the best possible solution to the problem in the shortest period of time. From the concentration on the problem will come a clearer workable manner of accomplishing the objective that is necessary to satisfy the client and of course, utilize the properly (the vehicle) that the client has but no longer wishes to keep which in most cases is the property being listed under a long-term exclusive listing.

The more time that is spent on the circumstances of the individual al this point, coupled with using his property, will more quickly enable the exchangor to find another person who has a set of circumstances surrounding another property where-in the exchanging of the first client’s vehicle (or the second client’s vehicle will automatically satisfy both.

It must he remembered that the average Broker in looking for listings doesn’t, by the very fact that he is in such a hurry to get a listing, take the time to concentrate on the problem of the owner of a property. Concentration at this point is essential, advisable, and helps bring about the short cut to accomplishment because through concentration at this point within this seven-fold formula, hastens the accomplishment.

5. Cooperate

This naturally brings the average exchangor to the factor of cooperation with other knowledgeable exchangors. It has more and more been determined that it is very difficult to cooperate with another Realtor who is strictly a selling Broker, particularly if his knowledge is limited to only the selling of homes. So the finding of the proper Broker with whom to cooperate becomes the next matter of concern in the unfolding of this over-all format. Among knowledgeable exchangors and exchange counselors it is an accepted fact that they must work together for the most complete accomplishment and work as a group.

Remember the banana – once it leaves the bunch, it gets skinned.

One of the main reasons why cooperation is necessary is that it is almost impossible for one licensee to have control of enough listings (packages) in order to solve all of the problems that confront him from various clients. Therefore, the better distribution to the market-place of the problems he is trying to solve for clients- providing the distribution for cooperation is with other knowledgeable licensees -then the better chance he has of getting the problem solved more quickly.

So we may conclude that the “day of the lone wolf” is gone. Accomplishment demands cooperation.

6. Consummate

We are now at the point where the consummation of the problem is the objective. This means that the solving of the problem that has been developed from the above. This means the finalizing of the attempt to help the client to get a satisfactory answer to his problem. This is the step that leads to the closing of a satisfactory transaction.

Under “consummate” we are including not only the finding of the circumstances and vehicles lo help solve the problems but we are talking about complete consummation which includes the holding of escrows, closings, final settlements, and all those things involved which bring to a conclusion with satisfaction the case at hand. Consummation, therefore, means that the problem with which the professional practitioner started has been sold.

7. Continue

Now that the problem that was involved with a particular client has been solved, the natural movement of this type of specialty means that there will he a continuity, because it is more unusual than usual at the conclusion of an exchange transaction to have all parties involved in the transaction happy to stay where they end up at the closing. As a matter of fact, from experience and statistics, it is more normal that at least one of two clients involved in a simple two-way exchange will be perfectly willing, and want to have the professional exchangor help him make another move. Very often a well-developed “Don’t Wanter” continues to be a “Don’t Wanter” after his immediate problem has been solved, for the reason that he has learned that through the proper processing of matching his circumstances together with a property, the vehicle, with the circumstances and another vehicle of another party, can place him in a much better position. Therefore, professional exchanging has an immediate continuity, unlike any continuity that might come from straight buying and selling.