In today’s real estate advice and tips article, learn how to protect your client when selling real estate from Nick Fong himself. After that, check out even more tips and knowledge from Nick as well. He’s the founder and broker of Ronival Real Estate, and one of the best resources for real estate tips on the internet.
Nick Fong has grown Ronival Real Estate into the biggest brokerage in Baja California Sur. Read on to see how to protect your client along with more real estate tips that’ll greatly benefit your real estate career as an agent.
Protect your client while closing a sale
When your client wishes to purchase a pre-construction property, you should make a special provision. This is especially true when you don’t know the developer or even the listing agent for the property. What do you do? Nick’s recommendation is to write up the offer for your client first. Then, make a special provision. To explain, allow 15 days or so for a licensed real estate attorney to review the paperwork.
Once the licensed real estate attorney has received the paperwork for the offer, they can make any needed changes to its content, or the sales contract. Going forward, you will be able to write a new sales contract that is bilingual to protect your buyer. This works very well when it’s a new construction property or a pre-construction property when you’re representing the client.
How to deal with failure as a real estate agent
Now that Nick Fong has had such great success in real estate, he says that he can link it always to a series of failures that he’s learned from. When you pay attention and account for your mistakes, it’s failures that lead to success. In other words, don’t be discouraged by failure, even if you fail often. Fail fast and move on, learning from that failure.
After you come to the realization that failure as a function of success, you can deal with it in quite a positive way. Always view failure as an opportunity to try something better. It doesn’t have to be what causes you to fail and quit.
Prior to receiving the title, how does a home owner sell?
Before an owner has received their title, which usually occurs while under contract from when they made the purchase, there is a good way to still sell that property without delay. As Nick explains, this situation comes up often since the market has risen values so tremendously. This happens when the owner wants to upgrade to something else using the profit from the sale of their first purchase.
When a new buyer makes their offer on a property under contract with the developer, the transaction can be executed with a new contract. It will be under the new sales price. That way, the first buyer can cash out the profit from market increases. This contract is with the developer, just like the original buyer had, but with the new price. As such, the new buyer will receive the title once it is released. In the video, Nick explains capital gains tax implications and how closing costs are handled – it’s not a simple solution but there are two options explained in the video.
The importance of body language
The energy you give is the energy you will be returned to you. As an example, if you’re doing your calls with low or bad energy, you will get that energy back. Nick states that your words make up only 7% of you communication. You intonation and your body language make up the other 93%. So make sure you get your energy right, before you make that call or send that text. Stand up, don’t sit.
Work With Ronival Real Estate
Ronival Real Estate has helped thousands of buyers and sellers across Los Cabos since 2010. If you’re interested in Cabo Real Estate, our team can assist with everything from showings and negotiations to closing and property management. Have questions? Contact us here or call +52 (624) 227 5766.