What’s the toughest lesson you’ve learned in representing sellers?
New York real estate attorney Robert Ivanhoe of Greenberg Traurig discusses what he’s learned from representing sellers.
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Well, I think it’s that sellers often don’t always understand who their buyer is, and it’s not just the contract or just the legalities of it, but they have to understand who they’re dealing with and what their background is, and sometimes it may not be best to take the highest price. You have to understand who’s most likely to close, who has the financial wherewithal, the track record, what everybody’s history is and the manner in which they do business, and I’ve seen some sellers just go for the highest price and later regret it, and I’ve seen others go by certainty of execution and do much better.