I recently received an email from one of my regular readers in Louisville, Kentucky. He wrote: "I have seen it happen so often, especially in real estate. Both the seller and buyer agree on a price, terms, conditions and usually it will be a simple smooth closing ... I have seen many deals that were lost where the attorney or the client start playing games of demanding things that weren't in the contract (after everyone agreed) or they say they will 'walk.' As you know, this happens in almost every business, if not by the boss, then a manager or employee. Most of the time it is NOT the money that motivates this action -- it is the excitement of 'Winning Always,' to outsmart others, to get the upper hand. These people are never satisfied with a simple win/win."
- Thank the person profusely for their courtesy, and
- Spell out the terms of our agreement -- "As I understand our agreement, I have agreed to do this ... and you have agreed to do that ..."
Mackay's Moral: A solid agreement keeps a meeting of the minds from becoming a clash of wills.