Sacramento Real Estate
Selling real estate and law school has come up in my life on a few occasions. While managing the Sacramento and Placer county regions for a previous real estate company, I almost applied to Lincoln Law School. Our risk management attorney, Eric Larsen, rest his soul, had encouraged me to apply. He wrote a letter of recommendation giving me a five-star review to suggest I be grandfathered into the program. Eric was my mentor. He taught me everything I know about real estate law, disclosure, due process and lawsuits, etc. I was so fortunate to work alongside him for almost 10 years.
Being a Sacramento Realtor multi-tasking at extreme levels is the typical environment for a successful real estate career. Yesterday, I was made aware that this skill set is something you either possess or you don’t. Realtors are often on the phone, (I have two phones) texting, emailing and putting the phone on mute, while answering questions from an assistant. We are also checking email and voice mail while organizing. I have a 40-inch monitor screen, so I have multiple windows open at the same time on my computer.
When managing real estate on Fridays, well, it feels like Black Friday. Every issue that came up during the week seems to roll to a Friday. Probably because it is the last day of the work week for most people. It reminds me a bit of Black Fridays.
So much hustle bustle from the lenders, the title companies, the agents and clients. Photographers, pest companies, home inspectors and transaction coordinators all trying to get all their ducks in a row — with a bit of nudging from us, of course. They are all running around like chickens with their heads cut off.
Realtors who do not return phone calls are like a bad apple. About two weeks ago, we received a call from a buyer who had found us online. She was looking for agents who specialize in short sales. She had been trying to obtain information about a condo listed for sale in Rancho Cordova; it was a short sale. This property is listed by an agent from out of the area, by an e-brokerage.
I have been calling, texting and emailing the agent for information for two weeks. These efforts were made to help this poor frustrated buyer as the agent would not even call her back. My phone log shows repeated calls, texts and emails made to this listing agent. To date, no communication from the listing agent. This behavior reflects poorly on Realtor and often is the cause of buyers not having the utmost respect for our profession.
When a home seller cancels the contract for non-performance, she must have a specific action that the buyer failed to complete. In this case, it is the buyer’s good faith deposit. The contract specifically states the buyer’s funds must be deposited into the title company within 3 days after acceptance of the buyer’s offer.
In this particular escrow, there have been many conversations about the deposit and several reasons why the funds have not been wired. A car wreck, an illness and then a tragedy in the family with their child. Another reason for the delay just happened this week. The funds were somehow wired to the wrong title company. The seller’s agent has been very patient. Everyone has a line in the sand and the seller and her Realtor have reached that point with the buyer. The buyer has truly tried everything within her means but has been unable to perform.