A lack of communication

by Shawn Lackie

Check out the definition of the word communication and you’ll get this. “The imparting or exchanging of information and news.” In other words, it’s all about keeping the parties informed. So how does that affect what we do in Real Estate?

Now there’s a question. Lack of communication is one of the major problems leading to deals crashing and in many cases ensuing lawsuits. The sick part is, this is so avoidable, especially given we now live in a totally information sharing society. Text, e-mail, phone (old school I know), post on social media. More than ever before, the ease with which you can share information is the easiest it has ever been.

So why do we NOT follow through? It is a combination of laziness, stupidity and just a lack of caring. Follow up these days, for people in business, can be sketchy at best. It goes straight across many lines of business. I had a rule; when I was at the Canadian Football League (CFL) and a reporter or any kind of journalist called in for information, those calls needed to be returned within 15 minutes at the most. There was a solid understanding, these people were working to a deadline and that needed to be respected.

The same holds true in Real Estate. In most cases we ARE working to a deadline. Conditions need to be met, i.e. closing date, financial obligations – you name it, there is always a date attached. I have had the misfortune of dealing with some characters, who don’t sense that urgency to get things done ASAP, and that can be frustrating. Especially, if you are the person in the middle of the transaction, answering to both your buyer and the seller agent. They will only take “I have a call in” as an excuse for so long, and then something’s gotta give.

It’s really pretty easy if you put your mind to it. If I include a condition on finance or inspection, and it’s a five business day term, I try to get it looked after in the first two days, because you never know if something else is going to crop up as a road block.

I’ve always had issues with timing. Ask anyone who knows me (Dennis?) If I say I will pick you up at one, well then, I will be there at 12:45, that's just how I'm wired. If something changes and I can’t make the time, the first thing I will do is call and say I will be a little late.

Years ago, I was working on a deal in Caesarea with a buyer from Oakville. The buyer said, “No problems, I’m dealing with my bank.” The same bank he was a customer with for over 50 years. So he was sure the mortgage would be a slam dunk. Except, the person he was dealing with took an extended long weekend vacation and didn’t share the file or tell anyone. When he came back, the request was denied. We were in a huge bind to close the deal, so my buyer pivoted and found a place which would lend him the money.

All of the stress involved could have been avoided, if there was some communication. It’s the most overlooked quality, many times, and it shouldn’t be.