In the Red Zone

Recently one of my colleagues likened the final 7-10 days before the closing on a real estate contract to "being in the red zone." For those not familiar with football of the American variety, the red zone is the twenty yards before the goal line.  NFL teams are ranked on their effectiveness in the red zone by percentages of touchdowns and field goals scored. This is equivalent to "closing the deal" in real estate.

When I started pondering this analogy further, I debated with myself about whether there actually are offense and defense in real estate.  Occasionally as an agent, one may feel on the defensive, to protect their client's best interests.  However, the period of time from agreement and signature on a ratified sales contract to the settlement table where parties transfer ownership of real property is one of mutual interest.  Both sides of the transaction, the buyers and the sellers along with their respective agents, want to get to closing (while still maintaining confidentiality and the best interests of their clients).  They share that goal.

Perhaps a better football comparison is the 2 minute warning. Let's consider the game clock to be the limiting factor and the whole team is working to get to the closing deadline with all issues resolved, all the money available, and the property in the condition as previously agreed in the contract. In both analogies, here is a goal and a time constraint (the number of downs or the clock).

Either way, this period leading up to settlement is busy.  Real estate agents, settlement coordinators, lenders, inspectors, and other professionals are solving problems, answering questions, working together in the best interest of their clients to reach the goal line.

I use three-page checklists as a guide through the period from contract to closing. This organized process helps me be particularly effective in the red zone of real estate.