Compromise is Not a Dirty Word

By
Real Estate Agent with Buyers Brokers Only LLC - www.BuyersBrokersOnly.com MA Broker Lic 148149
Compromise is Not a Dirty Word

No, I am not talking politics....although the same premise does apply there as well.
 
I am talking real estate. In most real estate transactions, there is a fair amount of compromise.....price, repairs, and other terms are all negotiated. Too often I find parties digging in their heels about who is "right" and what is "fair".  


compromiseRight and fair really depend on perspective.
Every once in a while I have a deal where the other side is not moving on anything and it seems empirically unfair. Most of the time, it seems that from their perspective they are giving on something. 

Of course, my job is to negotiate the best terms possible for my buyers. The Sellers are also represented most of the time and they are working toward the best terms for their clients.  Quite often, we meet in the middle. In other words, we compromise.  Usually, both sides are happy.  Sometimes both sides are unhappy. Either case seems to indicate that we are in the right place. 

Buyers and Sellers need to remember that compromise is not a dirty word.  In the end, if the home is one you really want to buy (or sell) and the price is fair, try not to get too caught up in the little details that end up derailing a deal. 

 
If you are looking to buy a home in the Canton MA area, contact your Canton MA Buyer Broker.

Posted by
 
Christine Smith - Buyers Brokers Only LLC
100% Loyal to Buyers 100% of the Time
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The content provided on this blog is presented or compiled for your convenience and is provided for informational purposes only. The information provided on this website should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. 

 

Christine Smith is an Attorney and Exclusive Buyer Agent with over 20 years of experience in real estate. 

 

 

(c) Copyright 2010-2014 Christine M. Smith, Attorney and Buyer Agent. All rights reserved.

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Rainmaker
280,310
Terkel Sørensen
Real Estate Places - Temecula, CA
Realtor, 951.805.0773 , Bank owned and Short Sales

This is good advice - and I think there is something a few people can learn from - even if they are not buying or selling.

Sep 11, 2012 07:27 PM #1
Ambassador
1,451,939
Anna Banana Kruchten
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Christine all of life is about compromist and digging ones heals in - well that just gets a lot of folks stuck.  We had a stuck one today.....and suggested it's always good to have a plan b, c or d.

Sep 11, 2012 07:28 PM #2
Rainmaker
510,001
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Terkel....I think so too!

Sep 11, 2012 07:28 PM #3
Rainmaker
510,001
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Anna....Ultimately, it's the client's call but I think it is good to know i is okay to compromise.

Sep 11, 2012 07:30 PM #4
Rainmaker
365,365
Cathy Bureau
www.GreenHomeRealty.com - Alamo Heights, TX
Your Personal Real Estate Concierge

Christine - You are right, but compromise has a negative connotation. Maybe "win-win". I recall a story one of my Prof. told. His daughter wanted to stay out late to hang out with friends; I think she was 17, a Senior. He would worry about her arriving home safely on the weekends. So, they bought her a cell phone (this was in the early 2000's) and told her to call home every 30 minutes after 11pm. While that might be overkill for some, I'm the mom of a 17 year old daughter who works at an Imax with bars about. I totally get it. It's a great example of a win-win in that he wanted peace of mind, she wanted to stay with friends  and not be the first one home.

In a real estate transaction it's not that different. What does each party need and work out an arrangement. Sometimes it takes some give to get some get.

Sep 11, 2012 07:46 PM #5
Rainmaker
510,001
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Cathy...very true.  Sometimes the compromise ends up with both sides happy. Sometimes both sides are unhappy.  I think that they have a choice to be either happy or unhappy but it's not a bad thing to give up something small to get what you really want.

Sep 11, 2012 07:52 PM #6
Rainmaker
1,086,123
Ginny Gorman
Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

Christine, in my corporate job I worked as the point person for conversion teams on compromises that had to be made for customers to make things work...there were always 2 sides to try to accommodate as best as possible.  It gave me the basis for strong negotiating in real estate...there is nothing wrong with compromises...it will keep our world from blowing up too.

Sep 12, 2012 03:34 AM #7
Rainer
236,386
Donald Reich
Prudential Centennial - New Rochelle, NY

Ninety percent of the time, compromise is the way to get deals done, and homes sold.

Great post!

Sep 12, 2012 03:40 AM #8
Rainer
78,217
Jay Jones
Keller Williams Tri-Lakes - Branson, MO
How true! Can't we all just get along? :) I just saw a $300,000 deal fall apart in my office over a refrigerator and riding lawn mower. Buyer ended up walking and Seller ended up crying! A little compromise here would've been great!
Sep 12, 2012 04:23 AM #9
Rainmaker
510,001
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Ginny....it definitely will keep our world from blowing up...which is more important than any real estate transaction!

Donald....sometimes the parties forget that they already (probably) compromised on price...buyer wanted lower & seller wanted higher....and then they get caught up in little details and get stuck.

Jay....It is always those little things!  And compromise does not necessarily mean that it works out evenly (like the buyer got the mower but not the refrigerator) sometimes one side can give in completely (buyer gets neither mower nor refrigerator) and it still works out for everyone's benefit.  It does not need to be "even."

Sep 12, 2012 05:07 AM #10
Rainmaker
1,382,898
Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

A compromise is where neither party is hand stand happy but unity, the deal is struck. Spoken like a true lawyer who promotes mediate don't litigate!

Sep 12, 2012 06:07 AM #11
Ambassador
974,815
Amanda and Jared Christiansen, YOUR Fort Wayne Realtors
Century 21 Bradley (260)704-0843 - Fort Wayne, IN
Century 21 Bradley.

I couldn't agree more.  If both sides are getting what they need, compromise is okay.  Very good post and congrats on the feature!  

Sep 12, 2012 06:12 AM #12
Rainmaker
893,758
Michael Setunsky
Michael's Commercial LLC - Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Christine, I think every deal out there requires some form of compromise. Our job is to make sure our clients don't get caught up in the minutia.

Sep 12, 2012 06:18 AM #13
Rainmaker
1,269,666
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

I look for HAPPY and each person has their own version of it...We know it is over when everyone says...They are happy. Until then, we work at it...good one here...thank you

Sep 12, 2012 06:52 AM #14
Rainer
46,965
Jeanne Gregory
RE/MAX Southwest - Sugar Land, TX

Could you please forward this post to members of Congress?

Sep 12, 2012 06:58 AM #15
Rainmaker
956,578
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
CNE - ASP - SRES .... Uxbridge Ontario Real Estate

Christine - How true - a true compromise has both parties feeling the same way about the results

Sep 12, 2012 08:00 AM #16
Ambassador
1,929,102
Chris Ann Cleland
Long & Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Northern VA

The first managing broker I ever had used to say, "It's not a win if it's not a win for everyone."  Compromise really is necessary to get anywhere when negotiating a contract.

Sep 12, 2012 10:17 AM #17
Ambassador
1,929,102
Chris Ann Cleland
Long & Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Northern VA

Featured in the group;  BARTENDER, MAKE IT A DOUBLE.


Sep 12, 2012 10:18 AM #18
Rainmaker
510,001
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Andrew...mediate usually ends up with a better result!

Christiansen Team....even if they get some of what they want but not all, it should be a good thing! Thanks!

Michael....sometimes in spite of our best efforts they get caught up in the minutiae anyway!

Richie...some people are never happy...it is a choice.

Jeanne....LOL!!  I try to stay out of politics in my blogging but that is a good suggestion!

Kathy...sometimes both are happy & sometimes both are unhappy.

Chris Ann....thanks for the feature!  I am honored!  

Sep 12, 2012 11:11 AM #19
Rainmaker
476,745
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Role of a Realtor is so very important when it comes to negotiating and usually its the small stuff!! To keep the transactions alive, each party needs to compromise.

Sep 14, 2012 07:21 PM #20
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Rainmaker
510,001

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