Today my friend Cody Tyson of Bay Equity Home Loans is with me to share his expertise on the current real estate industry.
Today I am joined with my good friend and preferred lender partner, Cody Tyson of Bay Equity Home Loans, to talk about some of what we have recently seen in the real estate industry. Cody has been in his line of work for 15 years which definitely qualifies him as an expert for this expert conversation.
Cody tells us that in any transaction you are only as good as the weakest player on the team. He sometimes sees that when there is a new real estate agent, escrow officer, or lender, clients can pick up on it. Even though everyone else is pulling their weight and doing their job, it doesn't feel right. This feeling spreads throughout the entire transaction.
This can also happen to people who have been in the business for a long time but have only done it for a few hours a week as a part-time job.
One of the things he mentioned as well is that it is the agent's job to be that calming force. Buying or selling is highly emotional times for both parties for a number of reasons. Usually, people buy and sell real estate because they have a life change that has occurred such as a job transfer, promotion, divorce, marriage, death, etc.
Add in someone who is not well equipped in the deal, and it is contagious. If the real estate agent is worried about getting a paycheck, they may not be the calming force that you need. This can spread even if you have a lender and an agent who has worked together for a long time and there is a third person that is thrown in that stirs the pot.
The final tip for this week from our expert is to make sure you do your homework. If you know someone or have seen them on social media, find out the depth of their knowledge and how they will handle challenges and conflicts. A real estate transaction it is about navigating those hurdles that most certainly do come up.
If you have any questions about this or anything else real estate related, please feel free to reach out. I look forward to speaking with you.