One of the biggest differences in the real estate business over the past 15 to 20 years is how home buyer offer presentations have changed. Back then the majority of the process was face to face. I would meet my buyers and fill out the paperwork and then contact the seller's Realtor. I would then have a meeting with the sellers and their Realtor. I would make a full presentation regarding my buyers, the home, and the offer. If there was a multiple offer situation, or if my buyers were in a time crunch, it was not unheard of for the buyers to wait outside the property in my vehicle while I presented the offer to show their commitment to buying the home. I remember the first time I tried to fax an offer to a fellow Realtor. It was sometime in the late 1990s, and I was using the curly carbon type paper that was used in those 1st generation styles of fax machines. What a hassle.
My how times have changed!
In this high tech, fast moving, international world that we live in today, there are very few of those face to face sit downs to talk about an offer anymore. Instead, much of it is down online, through fax, and over text. I had a conversation with a Realtor the other day who stated that he doesn't even use paper documentation at all anymore - everything is digital! Home buyers and home sellers want quicker responses and more information.
One of the big differences I see between home buying negotiations 15 years ago and home buying negotiations now is it is much easier for negotiations now to take place when the buyer or seller is out of town. With online documentation, scanning, emailing, and faxing, as well there no longer being the practice of meeting face to face, having negotiations take place from people thousands of kilometres apart are becoming more and more common.
Another big difference I notice is that Realtors spend less face time with other Realtors and their clients. This has both benefits and drawbacks. My experience is that there is a reduced sense of fellowship and bond between Realtors that came with frequent meetings to discuss offers. I also feel that as a result communication is much more calculated and maybe lacking a bit of personal touch. This personal touch is preferred by some clients, but not all, so it will depend on your personality to a certain degree as well.
Why is it important for new home buyers and experienced home buyers to keep these things in mind during a home purchase negotiation? By knowing more about the other party experiences or lack of experience with home buying and home selling it will help to decrease the possibility of miscommunication and feelings getting hurt - 2 things that can make a good deal go bad in a hurry.
Knowing how the home buyer offer presentation have changed over the last few decades will allow for a smoother transaction!