There real estate business is fraught with twists and turns that can suddenly derail any transaction. These days, selling real estate is almost like walking on rice paper. You must tread very lightly or you will tear through the paper and have to start over.
So when things go awry, it’s always better to have an alternative plan already in place. It can speed up the process, reduce the stress, and inspire more confidence in the action.
Answering the “what if” question ahead of time also strengthens your negotiating position. The fear of losing a deal becomes less significant if one knows in advance that other options are available.
The fear of the unknown is powerful and leads to anxiety and distress.
But knowing in advance where you are provides a comfort level that can make life easier and more pleasant!
And can help get the deal done!
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Good morning Richard,
What a great post..the picture is perfect for your title!
Good points Richard. And lately sometimes a Plan C and D is also needed. Experience helps us with the plans. And often we get those little feelings about some deals that something is up, that's when it's time to start working alternatives and contingencies.
Thinking two steps ahead will allay many fears and frustrations...As for the guy in the picture I wonder what his alternative plan was..probably good health insurance!
It's always good to have a backup plan in place. I've been working with a client that has her plan B, C, and D in place. She's not even concerned about the tax credit as long as she can get into one of her desired homes. Did I mention that most of them are short sales...
In this business, plan B is a minimum requirement. Otherwise...NO SLEEP FOR YOU!
It is always good to have plan "A", "B" and "C" in place while you travel along life's journey. Typically plan "A" works, but the best laid plans rule will often take over.
Plan "D" is where most people are if plan "A" doesn't work out, or if they never had a plan "A" in the first place. That "Plan D" is when you have the big D tattooed on your forehead for "DESPERATE".
I used to work around horses a lot. If you are afraid of them, they can smell it, and they will have fun with you at your expense. Buyers and Sellers are no different. If you are desperate, they know it and you are in trouble.
Gerald
Hi Richard, I always think ahead. People tell me don't make it a problem until it is a problem. Nothing wrong with seeing possible trouble ahead. It makes you prepared and if there is a problem, Plan B and/or C is there.
Richard, to avoid stress it is always a good idea to have a backup plan. Great post and photo!
Try to have the the answers to the questions that more then likely will arise. Good post.
What on earth could the guy on the ground have as a plan B? LOL
Debi
I have a tendency to remain positive in every situation. But I, also, am prepared with a plan B. Just because anything can happen.
Richard: These days you need a Plan B, C & D. It's almost like running some sort of obstacle course with issues popping up in various places. Preparation the unexpected or unlikely event can be the difference between closing a transaction and starting from scratch.
Having a good idea of what can come and what to do if it gets here can certainly make life a lot easier my friend.
Richard,
In addition to having a good alternative plan it's good to be able to think on your feet.
Richard, very timely. I have one that is due to settle tomorrow -- and I am shocked that the rice paper is still intact! I agree with Gabe too, though, sometimes you need C & D!
Richard, I will echo Gabe's sentiments. I often jokingly state "You are only as good as your 'PLAN F'"
Plan A, plan B, and it's not a bad idea to have a "go-to-hell" plan, too. That's what you do if things go to hell.
It also helps to not be relying on one deal. If you have several in place at once, that one deal doesn't become such a nail biter and you can be more objective.
Richard...I seam to be using both A & B at the moment. I know A will work, but needs a bit of help from B at times.
Richard,
I know I'm in deep doo doo if I have to go too far down the alphabet.
Rich
A few years ago almost every deal was a piece of cake. Now it's like going to the casino. Snake eyes or seven?
Richard we had to use a, b and c all in one day it's been wild. getting ready for e, f and g tomorrow!
Richard, this is so true. a flowiing pipeline takes a lot of stress out of life.
Richard, yes indeed, plan ahead, But I am with Deb Boucher, what is that guys Plan B?????