Real Estate Investing is like a Three Act Play.
It seems every real estate transaction has that moment of truth... the point where everything sails through on schedule or becomes imperiled. Real estate investing has more than its share of drama.
If you're working with professionals the rough spots are usually broadcast so far in advance that the deal can be saved.
Still- there are those occasional zero hour moments that require decisive action. It reminds me of a finely orchestrated theater piece... however, if performed perfectly the drama will be kept to a minimum.
There is a structure to a three act play:
Life is full of wonderful challenges. This is the "act one & two". But what about Act 3?
I had an English teacher who said this to the class whiners, "Congratulations genius- you noticed the problem. Now for the good part- solve it."
When a deal starts to go south, every agent has to adjust. Those who can think on their feet will toss aside senseless venting and get busy.
So... when tempted to complain, try to break down conflicts by answering these three questions:
1. What's the problem?
2. Who are the players and what are the elements?
3. Knowing this, how do I resolve it?
Many conflicts are simpler than they may appear at first blush. By focusing on the essential elements with a clear-cut resolution in mind the better agents will manage to find Act 3.
When conflict arises, they may figuratively recite this simple mantra, "finish the play."
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Chuck Willman is a real estate agent in the Phoenix Arizona metro area.
He can be reached at 480.292.0600 or online at www.AZvest.com.
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Accredited Buyer's agent & Listings Pro. Specialties: investors, first time buyers & international clients in the Phoenix Metro area including: Gilbert, Mesa, Scottsdale, Tempe, Chandler, Queen Creek.
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Chuck, I like the way you organized this post, Good message and easy to follow. Well done.
Steve- Thanks! I like to think that problems are seldom unmanageable... unless we want to add weight to them.
Chuck,
And I might add, I've had those that went like this:
Act I - conflict present
Act II - conflict increases
Act II - conflict consumes
Thankfully, your analogy is the norm.
Great Post, Chuck. Act III is where an *experienced* Realtor can really help save a transaction for thier buyer and seller clients. In Real Estate, new issues come up all of the time-(which is what keeps it interesting!), but through the years, a seasoned agent has been through most of the more common bumps in the road and can guide thier clients to a successful resolution more often than an agent with less experience to draw on.
Chuck -
This is great, and so true! A true professional can't prevent problems, but can anticipate and handle those problems when they do arise.
Dan
Chuck, this was fun to read... great style & excellent info... I took an intermission just before resolving it... brought cookies back for all the players-)
Cynthia- :-)
Debra- True... there are usually a few bumps... it's nice to use someone who knows the terrain.
Dan- It's always best that when/if a deal starts to fall apart that the players involved don't do likewise.
Mara- cookies! Even better than roses thrown to the stage (pesky thorns).