For most of the year, has had excellent attendance. His leadership has contributed to very high productivity from this department. Contact the Lender for any changes they deem appropriate for a loan product that may require exact is able to handle his clients well and does not have any complaints against him. This year, we need to focus on what issues are causing such high turnover. (�� is a high performer and leads a team of high performers. She frequently has a smile on her face and you can tell she enjoys her job. has a tendency to erupt over minor things. �@$`�ոlDW.�Z]J0���������q��P��/C�E�O�Gw�0�@��5=Cw9�0�A��4Bk)"���@늭�ՙ�^X�m ’s position requires him to have sufficient technical skills, however, he does not speak up during technical meetings to discuss potential solutions. “Flaky” is probably the closest word that comes to mind when thinking of . needs to improve his acceptance of a reasonable work-personal life balance. Provided the verbiage is up to the task, the clause should escalate the offer just enough to land the deal without going too far over. In short order, he turned the team around to one of our best performers. has received good feedback from his team and his managers. is very good at dealing with customers on the phone, but when they come in the store, he doesn’t handle one on one contact very well. The purpose of using an escalation clause is to beat the other offers without overpaying for the property. These performance appraisal phrases will help supervisors to create their performance appraisal, by providing suggestions of phrases and wording to be used on appraisal forms. 2H����F� ��Zl�P��g��u�� [�5�0��T7��b#? View the full article: What Appraisal Gap Coverage is (& How It Can Help You Win in a Hot Market) on The BiggerPockets Blog. Arlo offers to pay any difference between the appraised … Effective performance reviews are a key part of employee engagement, and they can significantly improve the performance of your business. 2 0 obj !(!0*21/*.-4;K@48G9-.BYBGNPTUT3? Rote memorization of technical manuals is not the same as technical mastery. (�� It states that the buyers are willing and able to outbid the higher offer, at least up to a certain point. Appraisal clause – This applies to the Physical Damage portion of a Property & Casualty (P&C) insurance policy. works with customers very well. is usually very steady in her work, but there have been several instances where she has been unreliable. ’s years of experience communicating is evident in his wonderful communication skills. So, in this case, if they offered $415,000 and it came back at $400,000, they are guaranteeing they will pay at least $405,000. is a good supervisor, but has failed at managing his staff to high productivity. What I would like to discuss here is how the escalation clause might affect the deal when the appraisal is performed. (�wTv is very good at handling difficult situations with customers. DISCOUNT POINTS This clause may be used when the Purchaser is requesting an increase in price to cover additional points and closing costs to obtain a VA, VHDA, or FHA loan. is not very effective at managing her staff to high performance. has not made the transition from co-worker to manager very well. If the buyer can’t find financing, either party can cancel the deal. is not reliable for his effort and does not demonstrate a willingness to do whatever it takes to get the job accomplished. Add any text here, Strategies to become an employer of choice. But low real estate appraisals are more common than you think. consequences” for the gap between contract price and appraised value. has not fully understood why customer service training is important and frequently is late to class and does not participate. ��tO,a��]�t{'`r��z�ǰ8� _��mШ9'�����F�RTw�ai ��>K 2���d��W$�w��`�?O���3���b��@ �Yrw��Ү� ��+&k�ds��/`(wӸ�$��U9bx[k�=�j�H�۫7^�����%����Gր2᷒o�8�=*��4����\� i� h�Eݰ�e�e[֙ ����p:�Үj�r?���.\BFU��@&����$�USk!�h�gozب��`��G'��� She should continue to adapt this to her position in the company. should keep his conversations work related. Though our systems have been in place for many years and are well documented, does not have the aptitude to understand the technical nuances they present. (�� Since escalator clauses are not extremely common in real estate, one potential drawback of including an escalator clause is that the listing agent may not truly understand how it works. does not demonstrate a concern for what we think of him and whether or not we believe he is up to the job. As you appraise an employee’s performance, you can pack a powerful punch if you use certain key words.Here are the most effective words you can use in a variety of job performance appraisal categories:. With this said, is also one of our top employees for attendance and reliability. If no other offers are submitted, Brown's offer remains at $100,000. <> (�� can quickly build a positive relationship with people and understands how to relate with them. She is a loyal and trustworthy employee. If any such appraisal is for less than the purchase price, Buyer shall within days of the Binding Agreement Date have the right to request that Seller reduce the sales price of the Property to … reports necessary information to his coworkers. (�� rarely innovates and when he does, it seems forced. endobj If we know a task must be completed, we usually pass him over and find someone else to do the task. (�� takes on new tasks with ease, but when it comes time to communicate with other team members and train them on these tasks, John does not perform very well. Our company is composed of many teams and ’s ability to work with and understand the team dynamics has been beneficial to the firm. (�� (�� does not understand how to overcome client objections and instead gives up to early. 2. d�{��m���jK[ǖm��L We have tried all lines of negotiation has a cheerful attitude which makes others feel good when he’s around. ’s one of those team members you would love to have on your team. has shown a tendency to be a matter-of-fact manager, but in his position, thinking in a more resourceful manner would do him well. ���� JFIF ` ` �� C is too cautious – she is afraid of confrontation so she does not step out to assist when it’s necessary. is a good person, but any constructive criticism devastates her. (�� is not a technician, yet some basic technical knowledge is required of her role. schedules his time off well in advance. Once promoted to supervisor, she has taken a hands off approach to the detriment of her team. The most common Market Value clause amongst inferior GAP insurance policies is in relation to the motor insurance payout at the time of claim. does not understand how to deal with a difficult customer and too frequently passes the customer on to his supervisor. These can come One of ’s strengths is his use of candor and effective communication with his employees. If the insured has failed to pay the premium, the insurer must notify the lender 10 days in advance before canceling the policy. should work on being an active listener. If were a coach, he would be considered a “player’s coach.” He understands his team and how to motivate them to high performance. Posted by on Thursday, May 17th, 2018 at 12:05pm. promotes a team-centered environment. (��&��ʝOc��V�`V�-�cԨ��E QE^� �=��u�Z�� ��� �� (�� +OL� �v� {� The initial home sales contract almost always includes an appraisal contingency. (�� is quick to congratulate coworkers and builds an atmosphere of trust with his team. Her escalation clause goes up to a maximum of $110,000. This clause is a protection for the buyer because it allows him or her to get out of the contract without any legal consequences and without losing any money already deposited. A low appraisal may seem like a major misfortune when you’re selling your house — both for you and for your buyer. was very good at teamwork when he was just a member of the team, now that he is in a supervisory role, has lost much of those teamwork skills. As I say often, the more knowledge and information you have regarding our market, the easier it will be to make informed decisions! In such a fast changing world, keeping up with the latest technology can sometimes be difficult. (�� needs to bring his attitude under control. As an employee, was good at communication, as a manager, has proved an even more effective communicator. does not convey a positive image of the company to customers. 4 0 obj does not understand the different between “friend” and “coworker” and only wants to focus any energy on friendships and not building good working relationships. Appraisal gap coverage strengthens offers in any market. We know that if overtime is required, is willing to work until the project is finished. is very good at individual tasks, but he falls short in cooperating on group projects and in partnership with staff members. discourages creative solutions from her team. One unwritten rule of thumb when encountering an appraisal gap is to split the difference between the buyer and the seller. (�� is inner focused and does not think about the needs of those around him. seems to shrink when she’s around others and does not cultivate good relations with her co-workers. has an excellent impression among the management team, yet his fellow team members cannot stand working with him. The “GAP” is the time period between the closing of the sale and purchase transaction when a title commitment is issued to the buyer and the actual recording of the seller’s deed. (�� He seems to always be in “survival mode” without focusing on the goals necessary to move his team forward. (�� has a difficult situation with the team he manages, yet he has turned them around in excellent fashion. is known for his dependability and willingness to do what it takes. He is unwilling to work beyond his normally scheduled 40 hours. An escalation clause may serve as an invaluable tool in conjunction with a competitive offer. is one of the most technical employees we have. 3. This provides a bad impression for his coworkers and employees. In most areas of customer service does a good job, but when it comes to difficult situations, does not understand how to calm the customer down and follow the script. does not understand how to share tasks with others. An escalation clause can be used by a buyer in a multiple offer situation, but the state of Texas frowns upon them and they can be dangerous for buyers. If your client selects this choice, she … waives her right to terminate if the appraisal doesn’t satisfy the lender’s underwriting requirements. While most of his coworkers are willing to work late to get the project finished, seems content with leaving the work for others to do. has our trust because he’s proven to us he can get the job done. Add anything here here or just remove it.. is very prompt at the start of each work day. For the most part, is a personable guy, but when he gets upset, his attitude turns to shocking. A seller may want to continue to market their property while the buyer is working through clearing contingencies (financing, inspection, appraisal, etc.). In today’s market, we need some creativity and flexibility in dealing with customers, yet does not seem to understand that. Appraisal: The buyer won’t be obligated to buy the home if the appraisal value is lower than the asking price. When we need to implement new technology, we turn to first. contributes to the success of the team on a regular basis. (�� has a nice understanding of how to relate to people and make them comfortable. When you’re buying a home, lenders will extend a loan on the lower of either your contract price or the home’s appraised value. Her ability to grasp technology is an asset to our team. (�� The appraisal shall be a “certified apprai sal” of the Property (as that term is defined in O.C.G.A. needs to balance his personality out and not react so much to negative events. 2 hours ago Yes, there might be a form exactly for this. deals with very complex topics and discussions, yet always seems to bring it to a level of understanding the rest of us can relate to. Accepted offer came from a buyer utilizing an appraisal gap clause to offer an addition 10k over appraisal. a. has a natural rapport with people and does very well at communicating with others. However, during the summer months, frequently leaves early or takes a half day of unscheduled time off on Friday. 2. One of ’s core strengths is her ability to immediately connect with someone. An escalation clause, or escalator clause, is a method that allows the offer price to increase in desired increments. is a team player and understands how to help others in times of need. is a very reliable employee. ܠ follows the phone scripting in a rigid and inflexible way. <>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 5 0 R/Group<>/Tabs/S>> is able to create a sustain a positive, professional relationship with her coworkers, direct reports, and management team. 1 0 obj ;�j���€�ۓUIf9$��hk/�����+b����?���� ��� ���j���}G��Z�������� ��Z تZ�����ڥ�� �O� P��r�+r��� \�� needs to improve his technical understanding of his job. One of the difficult things a new manager must learn is how to emphasize the right things and downplay the other things. ’s shoddy attendance record must improve in the next 90 days or he will be terminated under the company’s attendance policy. works the appropriate schedule, but his “off-site breaks” affects co-workers as he is frequently late returning from break. consistently impresses us with her willingness to do whatever it takes to get the job done. It’s no secret that the Denver real estate market is insanely hot right now. understands how to handle difficult employees and manage a high maintenance staff, yet we continue to have above average turnover on his team. (�� Whenever a large project comes in, is always one of the first to volunteer to help to get the job done. Used correctly, the proper escalation clause verbiage can tilt the scales in an investor’s favor. (�� holds too many meetings; fewer would be more effective. has a difficult time thinking “outside of the box” and creating new and untested solutions. is an affable fellow, yet his strong personality turns off people around him. What To Know Before You Use An Escalation Clause In Real Estate If you’re looking to buy but it’s a seller’s market in your area, then it’s important you know the pros and cons of an escalation clause. seemingly can strike up a conversation with anybody. In the fast paced world of technology, things always seem to change so rapidly. needs to work on her technical knowledge. (�� We are interested in submitting an offer above asking and are confident that the house will appraise for over asking. Whenever we have a very technical problem, is one of the first people we turn to. takes great pride in his work. skillfully overcomes client objections. does not understand the intricacies of managing a high performance team and has yet to perform. When writing out a performance appraisal phrases for multiple subjects, it can be hard to create unique thoughts as well as find the best way to critique without evaluations being taken the wrong way. is an effective manager and understands how to supervise his employees to meet expectations. endobj ̭=3�=����(�d����AZՓ���} V��( �0�K(p�{��Z�Wt!�q��@ 91̄�aT���+!9��[u�� m�ʀ+T�D�6s�(�#4�~�Ҷ"�b@�0�@�N8��ǰ�G�FZ�����.77L���׮$+eOJ l��%Hp=:ѧ���֞��p��+>Ы_�O�A� h�+�$�d8�z OR ____ Multiple escalations are authorized not … makes a positive contribution to morale. can handle the run of the mill customer service situation, but the more complex issues seem to cause her to freeze and not react. He is always one of the guys on the team we go to when we need a lift. %PDF-1.5 does not effectively communicate – both written and verbal communication must be improved. Offer No. comes from a very individual focused work environment to a team focused one and has struggled to adjust. <> is a reliable performer and maintains a good schedule. Too often, his work results are inconsistent and need to be checked too frequently. is normally a very affable guy, but under times of pressure, he succumbs to it and needs to work on his choice of language and volume level of his voice. =� -Y��^���S?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������F?�?�@(��1� q� J?�c����r��������� ԕ>�,�H��2��)h ��( ��( ��( ���{q��? He has a gift in relating to people around him. $4�%�&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz�������������������������������������������������������������������������� ? is an asset because he can effectively work with other teams and departments. Simply put: ’s negative attitude negatively affects his work performance. (�� has a tendency to instigate problems between his coworkers. begins each day refreshed and ready for any challenges she will face. The HVCC added a few twists to the appraisal process, mandating separation of those ordering appraisals (lenders, mortgage brokers, etc.) (�� is a creative guy but he has a tendency to act before thinking. We have had no issues with ’s schedule – he has good attendance and does not deviate from the standard attendance policy. That is $20,000 less than the original offer. Clause in Our Contract About Appraisal Price (real estate, credit, property) User Name Remember Me Password [] Please register to participate in our discussions with 2 million other members - it's free and quick! always ensures his employees adhere to their lunch schedules and breaks. Recently while selling a home in Pittsford NY, an experienced agent had no idea how an escalator clause … faithfully commits to get the job done and consistently performs at or above expectations. (�� has consistently low marks on his customer satisfaction surveys. It’s nice to see how isn’t concerned about herself and continually contributes to the success of those around her. Still, they’re most often used in a seller’s market to incentivize the seller. 3. is a very loyal guy, but not a very dependable one. Many of ’s coworkers see him as unapproachable. lacks credibility in his messages. has an even demeanor through good times and bad. is a nice and affable guy who works well with others. ���RC"8�={��Q����],&c�a��]Hⴄ���ޫ�����ƪM�dv� Kd���*�A$�V�d�ݘ#(79�Si7��� ?SRbB �Ul����rO�K%�. keeps a steady, positive attitude that helps her employees know everything is ok – even when it seemingly isn’t ok! Over the next 90 days, should work on this skill. San Antonio real estate and property information provided by Kimberly Howell Properties. We are fortunate to have Greg on our team. His employees consistently complain of unreasonable expectations and we tend to agree. Jane will not bridge the gap between loan and appraisal but will agree to pay $1,000 more than any other buyer. is an innovator at heart – his skill at inspiring new ideas is an asset to our team. is inconsistent in supporting his teammates. This clause may be used when the Purchaser is requesting an increase in price to cover additional points and closing costs to obtain a VA, VHDA, or FHA loan. Two collision consultants offer different views. :��AȠ �������j���c�P�����y΀+�i4h]�`u���7H�l~u�EV������3�5T�pGq@�RC���l%V>^{s�K��1"����F/�?�@㰕�τ\�����`c�V5]�����Z��I����MII�H�P�K΀�����:2�`dc�AmpmܰP��6j����$x�� �M� 4�Q3Ԏ*�ݷ���:{�[92s�j���1"���hk88��#h� is a very good with punctuality, but her staff is not. For example, when the appraisal gap is only $1,000, a buyer might be willing to close the gap if the seller agrees to leave the lawn mower and do some small repairs. This Contract IS CONTINGENT until 9:00 p.m. on the written appraised valuation of the property (hereinafter "Appraisal") certifying the value of the property to be no less than the sales price (check with your lender, if applicable, to confirm that the Appraisal will be completed by the Deadline). (�� isn’t concerned about who gets the credit, just that the task gets accomplished. is willing to do whatever it takes to get the job done – even perform tasks or jobs that are not her own. Waives any contract provisions which would permit Buyer to terminate based upon the failure of the Property to appraise for an amount equal to or greater than the Sales Price, including the failure of the Property to satisfy any Lender underwriting requirements for financing based upon Appraised Value. In a bidding war for a house, an escalation clause -- also known as an escalator clause -- automatically raises your offer. Some contingency clauses are commonly used when making an offer. A contract clause like this is not a big deal when talking about conventional loans. If your client selects this choice, she … waives her right to terminate if the appraisal doesn’t satisfy the lender’s underwriting requirements. Mortgage availability: This gives the buyer time to find financing for the home. is one of our most proficient customer service trainers and demonstrates this when she’s working in customer care. In a bidding war for a house, an escalation clause -- also known as an escalator clause -- automatically raises your offer. (�� 릌|�� ]c\RbKSTQ�� C''Q6.6QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ�� L?" is not a dependable employee. �� � } !1AQa"q2���#B��R��$3br� When we have a situation that must get done, we turn to . For clause 26, type in the age your youngest child must reach before the person living in the home is expected to leave the family home. is not adept at documenting verbal communication. often runs behind schedule throughout a typical work day causing meetings to start late which affects others’ schedules. of the wording herein prior to _____(Time), _____(Date).