Real Times Columnist Robert Lee sits down with Sonia Holt, author of "The Real Estate Quick Reference Guide," to discuss her new book and how buyers and sellers can benefit from lessons learned.

RT: If both the buyer and the seller have copies of "The Real Estate Quick Reference Guide" (SH Associates, $12.95), who wins?

SH: "They both do. If the seller can understand the buyer's process and if the buyer can see some of where the seller is coming from, I think that will help them both communicate better and take as much of the emotion out of the process as they can. The whole idea of a successful negotiation is to have a win-win situation."

Fifteen-year real estate veteran and marketing MBA Sonia Holt ought to know. She wrote the book "The Real Estate Quick Reference Guide" is relatively small and unimposing as books go but that's just the idea.

Taking a cue from the Internet age of concise (only 53 pages), but useful content, it supplies a quick digest of crucial information for both buyers and sellers alike who are about to engage in what could be the most expensive purchase they'll ever make.

Containing a digitally significant 10 components, the spiral bound walk-around manual offers information on choosing an agent, buying a home, new homes, selling a home, inspections, loans, title insurance and escrow. It also includes an appendix with home buying and selling flowcharts, as well as the obligatory real estate glossary.

For buyers

The guide helps buyers walk though and assess the difference between resales and new homes, while learning how to communicate with their agent and not waste time looking at undesirable homes. Easy-to-understand checklists also help identify what each buyer considers preferred features.

From the details of a written offer to identifying and resolving potential areas of conflict, the book also helps buyers craft agreements designed to keep changes to a minimum and to eliminate buyer's remorse. It dissects the home loan prequalification vs. preapproval process and takes the buyer through the loan application and its underwriting review as well as interest rates and approval.

For sellers

Sellers get assistance pricing their home and overseeing how the broker arrives at that price. They also get checklists of cost-conscious value-adding repairs and upgrades that help the home sell faster. Another checklist helps them put and keep their home in "show condition," also for a quick sale.

The guide examines the reasons homes don't sell and tells sellers what to do about it. The guide also takes the seller from the negotiation process, through inspections and into escrow.

For both buyers and sellers

Buyers and sellers get tips on choosing and interviewing the right agent by assessing them based on their philosophy and working style and the buyer's or seller's needs.

RealTimes.com asked Issaquah, WA-based Holt a few questions about her guide. Here's what she said.

RT: When the Internet has become such a force in housing, why a book?

SH: It's the ability to take it with you. The idea of making it small and compact with questions you can circle and go over with the agent and forms you can take with you when you preview a home. It's portable.

RT: The book addresses new homes vs. resale, but not single-family vs. condos, which make up an ever-increasing number of the homes consumers buy.

SH: I just plain over looked that. I tried to address the most important things that will create the same experiences with any type of housing, with some nuances. There are lots of books with 400 pages on everything you can think of. I think I'm into the big picture. There are a lot of people out there who don't want to invest the time to read a huge book and just need to understand a little bit of what's going on. I think I will include something on condos in the next edition.

RT: Because it's so helpful, this guide book could persuade a seller to go FSBO (for sale by owner). Is it useful for someone who decides to sell their own home?

SH: Absolutely, well, with the exception of selecting a Realtor, but at some point, when you give up, you'll need that section too.

Published: February 26, 1999

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