The 4 Contract Blunders That Can Wreck Your Deal Instantly

Just one slip, and you risk losing deals, frustrating clients, and leaving money on the table.

Good evening, real estate agents! 🏡 When the market’s unpredictable, every detail counts—especially when it comes to your contracts. Just one slip, and you risk losing deals, frustrating clients, and leaving money on the table.

But the good news? A few smart moves can help you avoid these costly pitfalls and stay in control.

Today, we’re breaking down the top four contract blunders that can ruin a deal in seconds—and showing you how to keep every deal on course.

Let’s get started!

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BLUNDER #1: GHOSTING ON COMMUNICATION

Lack of communication is a silent deal-killer. To win, you need open lines between both agents, allowing for clarity on expectations and needs.

  • Listing Agents: Make life easier by putting the seller’s preferred terms in the MLS agent-to-agent notes, and stay accessible to answer questions quickly. Even a quick call back can save hours of back-and-forth.

  • Buyer’s Agents: Read the comments carefully and align as many terms as possible with what the seller wants.

And don’t hesitate to ask, “Besides price, what would it take to make this a win for your client?”

Real-time conversations prevent misunderstandings, so don’t wait until there’s a crisis to communicate.

BLUNDER #2: WEAK OR MIA LENDER LETTERS

The quickest way to kill credibility? A vague lender’s letter or no proof of funds at all. A strong, detailed letter assures sellers your buyer is ready to roll.

  • What to do: Aim for a lender letter that confirms the buyer is loan-committed, not just pre-qualified. This letter should confirm credit, employment, and assets have been verified. Want to go the extra mile? Get the lender to call the listing agent directly to speak for the buyer’s financial stability.

  • Why It Matters: A weak letter signals uncertainty, but a solid one assures sellers that your buyer has the financing locked down.

Sellers are more likely to prioritize offers that demonstrate concrete financial backing, so make this step count.

*If you are a Premier Coaching Member, simply use your ‘ultimate addendum’ to avoid this mistake!

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BLUNDER #3: VAGUE REQUESTS FOR SELLER CONCESSIONS

Asking for concessions without specifics? That’s a recipe for last-minute headaches. Get clear upfront, so everyone knows exactly what’s on the table.

  • For Home Warranties: Clearly specify the warranty provider, duration, and exact cost.

  • For Closing Costs: Detail exactly what the funds will cover. Are they buying down the interest rate, covering property taxes, or paying HOA fees?

A lack of detail leaves room for disputes and delays that nobody needs.

Laying out these details prevents misunderstandings. When you skip specifics, someone ends up paying for it—literally.

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BLUNDER #4: COMPLEX CLAUSES GONE WRONG

Overcomplicating contracts with escalation clauses, waivers, or escape clauses can trip up even seasoned agents. These clauses require clear understanding by all parties, or they’ll come back to haunt you.

  • Escalation Clauses: Include a “not to exceed” cap so there’s no surprise sticker shock if the price escalates. Ensure the buyer is qualified to hit the top of the range.

  • Appraisal Waivers: These can be useful in cash deals but are risky with financed buyers unless the lender is on board. Verify the buyer’s funds if they’re guaranteeing an appraisal gap.

Otherwise, they could end up committed to a deal their lender won’t support.

  • Escape Clauses: Keep escape clauses clear and specific. For example, if your buyer’s offer is contingent on selling their home, outline terms for a backup offer if one comes in.

These clauses can be powerful tools, but they require clear communication with your client and the other side to avoid surprises.

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PRO TIP: SEAL THE DEAL WITH AN EXCLUSIVE BUYER AGENCY CONTRACT

Don’t let your hard work go uncompensated. Ensure your clients are on board by having them sign a Buyer Agency Contract. A signed Buyer Agency Contract locks in your role as the client’s exclusive representative.

Need resources for getting these signed with confidence?

Text BUYER to 47372 to access scripts, presentations, and tips to present your value and get that contract signed.

Remember, every detail matters in today’s market. Master these blunder-preventing moves, and you’ll watch deals go from shaky to signed.

TAKE ACTION TODAY

Join our Premier Coaching for free, and get daily coaching sessions, expert scripts, and the strategies you need to tackle prospecting head-on. Sign up at https://premiercoaching.com.

And if you’re ready to take that next big step, consider joining the EXP Realty team. Visit https://whylibertas.com/harris or text Tim directly at 512-758-0206.

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AND THAT'S A WRAP!

Lovely evening,

Tim & Julie Harris
Harris Real Estate Daily

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