In today’s video featuring real estate tips and advise from Nick Fong, Nick covers missing items after a closing. Nick Fong is the founder and broker of Ronival Real Estate, the largest and fastest-growing brokerage in all of Baja California Sur. In the video, he asks this: Who’s responsibility is it to ensure everything is completed properly?
Next you’ll uncover even more great tips and advise from Nick Fong himself. He’s achieved great success in real estate and Nick loves to share his wisdom and experience so you can achieve great success too. Therefore, continue reading to discover what you can do to be highly successful in real estate.
Don’t miss anything and take responsibility
In the video, Nick starts by asking if you completed a final walkthrough after closing a deal as a listing agent. As he states, it’s very important that you perform a final walkthrough for your benefit and the benefit of your seller. Then, he asks what could possibly happen.
As his own example, Nick mentions that one of his listing agents who recently closed on a property ran into a big issue. To explain, the day after closing, the buyer reported that items were missing from the condo they had purchased. Fortunately, it wasn’t the responsibility of the listing agent.
The reason listing agents are not responsible for missing items is simple. It’s always the buyer’s agent’s responsibility to make sure all items are there at closing. And in this example, there was a final walkthrough. But unfortunately, someone had entered the condo after the final closing and stole some items, which was the buyer’s responsibility since they now owned the condo.
How to close more deals and make more money
In the video, Nick Fong has one tip that will help you close more deals. As he says, when you get a property under contract, whether you represent the buyer or the seller, or both, consider a power of attorney. With the delays that occur during closings and knowing that most buyers and sellers do not live in Cabo or elsewhere in Baja California Sur, it’s easier to get that power of attorney.
Even more importantly, Nick says that if they’re living in the United States or in Canada, Nick and his real estate agents have the ability to do a remote power of attorney. Also, he says that this is something new. So if you want more information, definitely let them know. But in general, use a power of attorney. That will lead to more sales and more money in your pocket.
Mistakes to avoid in real estate during the year 2022 and beyond
In short, don’t take for granted what you know about real estate and your area, but your clients may not know. As Nick explains, his agents live and breath the local real estate market. To explain, they talk amongst themselves, with their partner, with their spouse, and with their kids, about what a crazy real estate market they are currently in.
Prices are constantly rising from 12% to even 50% in just a short time. In fact, there has even been 100% increases in some cases according to Nick. These increases have occurred over the last year or two years. In the video, Nick asks if you have picked up the phone and called your previous clients – home owners in Baja California Sur. Also, have you called your buyers that can potentially become sellers?
Be sure to let your buyers and sellers know about the current crazy market conditions. Proactively, you can prod a new opportunity for yourself, just by taking action on the phone. Don’t take for granted the information and expertise that you have and not sharing it with your previous clients. That would be a big mistake and cause missed opportunities that can be developed simply by communicating on the phone.
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.