Everyone is interested in real estate these days, in part due to the popularity of house hunting and flipping shows on television. While these programs are entertaining–and may inspire renovation ideas–they may give potential home buyers and sellers a skewed view of the real estate process.
While it’s obvious that one can’t purchase a home in less than an hour, these programs leave out a lot of the process, and may leave your clients—especially your first-time buyers and sellers—confused and frustrated. Here are some tips to help you manage your clients’ expectations:
Give them a realistic view of the real estate process. Most people get involved in the real estate process less than a handful of times in their lives. Additionally, we’re in a different market than we were in just a few years ago. When you speak with your clients, give them a realistic picture of the real estate process and include a time frame of events.
Explain the local real estate market. As a real estate professional, you know that the local market and the national market can look totally different from one another. However, your clients may not know that. Give your clients an overview of the local real estate market. Use Brian Buffini’s Real Estate Report to compare your local statistics with the national outlook.
Keep the lines of communication open. Your clients will have questions before and during the transaction, and even after it has closed. Let them know that you will answer all of the questions that they have. And, if there are questions that you commonly hear, be sure to address them with your clients, whether they ask you or not. They may not have thought to ask it or they may feel silly doing so.
Referral Maker™ real estate CRM tip: Referral Maker will help you keep in touch with your buyers and sellers. The real estate software will remind you when you need to contact them, and even makes it easy to refer them to your listings. Visit Referral Maker to learn more and to start your 30-day free trial.
Connect them with reputable home improvement professionals in your network. Both buyers and sellers may need to tap into your network of home improvement professionals. For your sellers, connect them with a great contractor or landscaper before they put their homes on the market to help them update or upgrade their homes and get them ready to sell, especially if you live in a competitive market. Your buyers may want to make improvements or renovate after the transaction has closed, especially if they’ve purchased a fixer upper. In both scenarios, it helps to connect your clients with a great professional who can give them an idea of how much any improvements will cost.
Watch your language. A home is the biggest investment that your clients will have in their lives, which makes buying and selling a big deal. Your clients will listen to what you say and how you say it, and pick up on any red flags. You don’t have to walk on eggshells; however, be aware of your tone and the words you use. And remember to reassure them—the whole real estate process can be confusing for your buyers and sellers. Use your professional skills to ensure that they feel empowered by the transaction.