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It Takes A TEAM

Today, people say: “It takes a village to raise a child”. The realities of today’s life (two family incomes and such) have extended a family to lean on others (neighbors, relatives, teachers, etc.) to protect and teach our young people about culture, history and acceptable behaviors. Teams, because of their ability to provide specialized solutions to problems, have often proved to be more efficient deliverers of information.

In real estate today (maybe more than ever), it also takes a team. As with a basketball team, each member needs certain skill sets and proper coaching on how to weave the different skills into a cohesive unit to achieve the desired outcome.  The evolution of how things work has created a necessity of excellent communication between all the players. The needs of buyers and sellers have developed an even broader need for new members of a great team.

A great working relationship between an agent and a loan officer is an obvious connection. Changing mortgage guidelines, appraisal challenges and qualification standards requires everyone working together. But, there are so many others whose expertise may be needed to properly advise today’s clients.

An accountant

One of the reasons people buy a home is that they hear of the tax advantages. What really are they?  How will the purchase affect my monthly cash flow? Should we adjust our exemptions with our employer? What about home repairs and depreciation?  What about parents who gift money to their kids….is there a smart way to do it?

And for sellers, especially people who may not be buying a new home, what are the consequences of their sale? Capital Gains Tax? Can/should they consider “gifting” proceeds to relatives? Long term health care? Life Insurance? That leads to …

A financial planner

How does buying or selling real estate impact cash flow and long term savings and planning?

Attorneys

Divorce attorneys, estate attorneys, elder care attorneys and even bankruptcy attorneys have a role in many transactions these days. Choices made without their counsel can have very damaging repercussions.

Home Inspectors, Termite Companies and Home Improvement Contractors

These professionals protect customers from nightmares, or explain the costs associated with preventing or curing problems.

Making a decision to buy or sell a home has far reaching effects. To think your real estate agent or loan officer is an expert in everything is not prudent. However, aligning yourself with a professional who surrounds themselves with other professionals is extremely wise. Make sure the people you work with have a network of related experts that you can tap into. You need to be represented by a TEAM!


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3 replies
  1. Dan Baczkowski
    Dan Baczkowski says:

    I agree with what you are saying but your post is not clear enough in emphasizing that it is the professional real estate agent whose broad knowledge coordinates the team and gets them all working toward the same goal.

    Reply
  2. Gregg Cohen
    Gregg Cohen says:

    Hi Dean. You are 100% right about the team. And, Dan, you are correct that someone must coordinate the team, but I wouldn’t say that it has to be a professional real estate agent. For example, I’m not an agent but I own our real estate investing company (with my two other business partners) and we coordinate our team of 12 full-time, in-house teammates as well as the dozens of external teammates such as title agents, mortgage brokers, contractors, etc. We’ve been able to do almost 250 deals in Jacksonville only because we have an awesome team! And plus, it’s just more fun working with a great team than doing it by yourself…

    -Gregg

    Reply

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  1. […] http://www.kcmblog.com/2011/03/03/it-takes-a-team/ Filed Under: Blog, Buyers, Real Estate, Sellers, real estate agents Tagged With: denver real […]

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