Posted on Aug 01, 2019
A favourite theme of English teachers (at least it was back in time when we went to school) was to compile an essay on “Comparing and Contrasting”. Usually to do with poetry or plays. And it comes to mind periodically when we think about the usefulness of some aspects of higher education – we once met a PHD who had completed their thesis on a comparison of two French authors of different periods. Enthralling.
We were reminded of this theme recently when we were selling two properties, which were both undergoing Due Diligence. With one property the agent shepherded the process through. He found a valuer acceptable to the bank. He made sure the valuer had plenty of comparatives. He found a building inspector and plumber, and took them on site. He made sure the parties had the LIM, and the IEP, and the property file. He made sure the DD progressed as it should through the process.
With the other property the agent called the buyer a couple of times to enquire how the DD was progressing.
It’s probably obvious by now where this “compare and contrast” story is going. The agent who became immersed in the DD process made sure the sale went unconditional. The agent who left the process to the buyer, ended up without a sale, and without a commission.