S.E.C. Real Estate Observer

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Editor’s Note: This article first appeared in the 1972 October issue of the Real Estate News Observer.

Professionals in any field of en­deavor are generally recognized by their enthusiasm, ability,
and the results they achieve. These qualities are what put them that “cut above” the average.

In the investment field of real es­tate, which includes selling and exchanging, there are many people, some good and some “terrific.” Generally, the people in the pro class rank as terrific. One thing I always find is that they always do their homework. What sort of homework do these pros do?

First, they counsel with their clients (not suspects, prospects, or customers). They determine the
real motives and goals involved in real estate situations.

Secondly, they have all the fol­lowing backup information: a current rental list or income by month; a one-year or two-year his­tory of actual income and expenses signed by the owner; a city map, state map, plot map; pictures.

They know something about the town, or area, the property is in. They either have a loan
commitment, or have one coming, if the possibility of a new loan would help solve the problem.

They attend to all the details of the property. They attend to the indi­vidual needs of the owner, which in turn makes every real estate problem unique. They sniff out a number of possibilities re­garding a favorable disposition for their client.

Now the offer.

Pros write an offer at an exchange meeting. Within a week, they get an answer on the preliminary proposal detailing changes, or maybe accepting the offer.

From that point, they have a sequence of well-planned letters, phone calls and documents, all geared to a smooth closing of escrow. The pro has a checklist. He does everything in sequence. Creative people seem to have a problem with details and maybe that’s why escrow-closers are not too crea­tive. But, the top people discipline themselves to do the detail work necessary.

This disciplined attention to details from counseling to escrow is the mark of a pro — an agent or broker who ranks as “terrific.”