I have been practicing real estate law in Massachusetts for more than 40 years. In that period, I have participated in probably 25,000 or so real estate transactions. Early in the game, I realized that some opposing counsel, realtors, appraisers, mortgage people and other real estate professionals were cooperative, honest and/or enterprising. Others were dishonest, obstreperous and/or downright lazy.
Since Boston is in many ways a small town, I started keep a yellow sheet (now there are about 200 of these) in the middle drawer of my desk. As I dealt with people on deals, I made a determination that they were either “plus” or “minus”. I then divided my yellow sheet with a line, and placed the “plus” people on the left side and the “minus” people on the right side, and then put my sheet back into the middle drawer.
It has been amazing to me how helpful my yellow sheets have been through the years. It is more amazing how many times I have had dealings with people from 5, 10 or 15 years ago on new transactions. I check my sheets to see if they are there, and if they are “plus” or “minus”.
If they are “plus”, I bend over backwards to make the deal work. I accommodate people with extensions for financing, closing and inspections. I travel far and wide to make their life easier. They have earned this type of treatment because they treated me similarly in the past.
If they are “minus”, they are probably going to have a harder time speaking with me, and when they do, they may not like what they hear, I will never be unprofessional, but I will certainly not walk the extra mile to help them out. Sometimes, I will have an advantage, and if the people are “minus”, I will use attempt to use it to their detriment.
The moral of this story is that the real estate community in almost every city is smaller than people think. You may have an edge in some transactions. In others, you will be coming from off the pace. Guide your behavior on the basis that you will probably be dealing with the people on the other side at another time, with another deal. Make yourself a “plus” and you will always have a chance to do a great job for the person you are representing. Don’t ever make a long-lasting enemy in our business. The price you may pay is just not worth it.