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Very, Because many things can go wrong at a closing. You client will need some reinforcement and consulting in the event something goes wrong. I have had many surprises at closing from loans not going through to clients dying hrs before closing. We as agent must be there.
Long Beach, NY
Absolutely. You never know what may come up at settlement that may need your mitigation. You also show you client you'll be with them until the very end.
I think its important to go to closing. Its the step in the process everyone is anxious to get to and is the most nervous! Be there to support them and help answer any questions you can. Its the most important day next to getting keys!
ABSOLUTELY!! Sometimes issues come up at closings that require your input:
buyer/seller get cold feet and need you to comfort them that they are making the right decision; lender/title company refuses to Close without signed Commission Statement which somehow got misplaced; buyer/seller introduce new negotiating point at the closing table; etc.
Thankful that most of my closings go as smoothly as planned.
I almost without exception attend transaction closings. The reason I do is because there are often questions, or last minute issues that need to be addressed. If I am there, these issues can generally be taken care of. Usually, it's just a matter of communicating information, or clarifying things!
I think your attendance assures the client that you have their back and gives them the extra support they may need. Many of us have found something come up last minute and by being there you can help sort through any issues.
It is very important for all the reasons Bruce Walter lists.
Without being present, it is hard to reinforce to the client the value you place on their referrals, their recommendations, their testimonials. And besides, you can't drink all that wine yourself so you share it as a house warming gift.
West Lafayette, IN
I've never missed one except when I was home recuperating from surgery and sent my husband in my place. Even if my client can't attend I go to make sure all goes as needed.
Charles, it is very important to go and represent your client as we have had cases where adjustments needed to be made to the HUD-1 at the closing table. I think it is equally important to go over the preliminary title work and HUD-1 when we receive them to check for errors as there are many, many errors made by the local title companies!
Absolutely for all the reasons stated above. I cannot imagine not being present for my client or having someone from our office there if I am out of town. Looks like a home run question!
Absolutely! I can think of 3 times in the past 5 years; situations where the other agent's clients have called me to list their home; due to their last agent no longer being in the business. If I had not gone they would have never called me!
I tend to go, but after reading this, it sounds like a must. I guess I can be the rock in the corner while they complete all the signatures.. good post
Yes. I don't consider my responsibilities done until the ink is drying. I'm there, should there be issues that arise. Plus, I've been there every step of the way prior to that. The work. The nervousness. I want to be there for the highlight of the process too and see it come to fruition. Definitely on the behalf of the client. But selfishly on my own behalf too. Being there just feels good ...
Either I go or someone from my team - depending on who the agent was that worked on the transaction. I would never let a client go to closing without one of us there.
Ya, you should go. I go to all mine, but know of some lenders and agents that never go. Good questions to ask your clients if they cared if you missed or not and then you know what the right answer it.
It is not only important, but in Indiana, it is the law!
I always did back in New England but here is SoCal closing all happens behind the scenes - there is no closing table or anything like that. I always meet up with my buyers once we are notified by escrow that we are on record (after I call them with the news) to arrange to hand over the keys to their new house. THAT'S the best part!!
YES! I believe it is part of your responsibility as a Realtor. If there were any issues that arose at a closing, I would want to know. I also want to be responsible for bringing the check back to my Broker. I also think in most cases, that your clients expects you to be there. You have done so much work to get the transaction to the closing table, why wouldn't you want to be there?
Always. What the other client has usually said at the table was generally, I guess they don't care . They are getting their check. Probably not the best impression.
Would you run the 26 miles of a marathon and NOT cross the finish line?
I go to almost all my closings. If I'm not there a team member is there.
To many problems can come up at the last minute.
I always go to the closing.
Absolutely... The buyer/seller feels more confident that you are there. Also, it is an opportunity to further bond with the client.... take photos... a extend a closoing gift. Some gives the buyers a survey at the closing.
Some managing brokers warn that you may say something wrong. Others say you should go. I attend!
Most of my clients are out of state or out of country so no one is at the closing. When i do a local one even though we review all aspects before closing and soon the HUD will be reviewed three days in advance, it is a nice gesture to be there.
Yes indeed. You have babied the transaction all the way through...should be there to represent either your buyer or your seller..
Charles - in a word yes! Whether it's for your buyer or your seller it's not just for the documents but moral support. Having said that, I'll tell you that I am in the minority in attending closings but in the end it really is important and makes you stand out.
Charles, I go to 99%. I have to be out of the area to miss one, and then I send another staff member.
Most closings, probably not. Though, it's a great idea to be there if your clients are there, especially iif some snafus crop up.
I am surprised this would even be a consideration not to attend. Whether representing the buyer or seller, it can be an emotional experience for both sides of the party. You are there not only to offer moral suppor but to answer any questions that may arise out of the process.
In addition, as the closing is the point where 99% of complete the transaction, you'll want to make sure the financial terms match the spirit and documented intent of the deal.
For the 48 hours leading up to closing, my client will likely hear from me by text or phone about every 4 hours to keep them posted to the process, a review of the initial HUD as soon as available (looking forward to the new 3 day cooling period about to hit our industry) and often unless they are immediately moving in will celebrate with lunch / dinner of their new home or sale.
In my state it is the law that the broker or a representative attend.
I do not attend closings.
just looking back through some of the old Q and A's. Just leaving a comment so you know i was here :)
As a Broker, I attend many of my agents closing. I have only missed 1 closing in the last 9 months. I was out of town of vacation. I made sure the loan officer was there.
Charles Ross - it's a personal choice.
I 'skip' few only and prefer to be at all the closings.
whenever possible, yes, very much so.. shows you care
I always ask my sellers if they would like me to be present at the signing. Even if they say no, I will try to arrive at the title company a few minutes prior to their appointment - just in case. Most everyone tells me that my attendance is no necessary, but I let them know that I'm only a phone call away in case anything comes up. People seem to appreciate this, and I have yet to receive a panic call from the closing table. Is it important to attend? Yes, if the seller is receptive to the idea.
In terms of customer service, I like to be there until the very end. It's such a joyous time anyway.
Charles - I think it is absolutely necessary, whether to support a local seller or represent an out of state owner, I can say that I have only missed two settlements. For the first I was getting married and my broker attended in my place and the other was a double booking at the same time on opposite sides of the County (a team member went to the other). There is nothing like having a knowledgeable person at the settlement table to help diffuse and last minute understandings and provide a warm welcome to the new owners.
If you have ever sat at a closing and watched an attorney explain a nine page document in one brief sentence, or use words like "customary", "usual"; or (my favorite) joke about the necessity of some lender required instrument, escrow or fee; and even worse get a blank document signed, then you understand why being there is important. I have attended closings where the buyer was to bring funds to pay off a debt, a builder was to escrow for weather related completion items, and where the upfromt MIP was not on the HUD. We have all seen typo's on legal descriptions, and have had closings delayed while a title company worked to get a judge to sign off on a clerical error that created a clouded title.
Won't the client love the fact that you had "more pressing matters" to do? One thing I know, were I the client and something I would expect my REALTOR® to catch were missed, there would be one less business card in my files! No, I don't think it is optional. May I quote my first Broker, H. Gordon Weaver: "I've GOT to be in control." I have witnessed his taking three layers of bark off of slothful and incompetent attoreys, lenders and realty agents. He took his job serious. I find more and more that things I thought he was over reacting to, were set right by his attention to detail, and his embarrassment when his associates dropped the ball. LORD, thank you for a great real estate teacher.
As a minister, selected by a family to conduct a wedding or funeral, I would find it impossible to provide the needed services. As a mechanic, intrusted with the servicing of your automobile, I doubt you would shrugg off my failure to be in attendance. My service as a REALTOR® may be somewhat differnt than those of a minister or mechanic, but no less important and much harder for a substitute to assume my role.
One may reason that the commission was earned when the sales agreement is consumated, but beyond "earning a commission" there remains promised & expected services yet to be fulfilled. Every REALTOR® wants to believe "they could not have been successful without me." So, short of something such as a medical emergency, death, automobile accident or being unavoidably detained by something like airline flights delayed or cancelled, WHY WOULD I NOT BE THERE?
I always ask the client if they would like me to be at the signing of closing papers. Some times they say "yes" but not often.
Many of my clients are out of town. Most of my closings are done without either the Buyer or Seller present. We do not often have a closing table in Arizona. I am careful to study the HUD-1 before closing.