In this market it seems as though we are working much harder just trying to get the property to settlement.
Every Step In The Transaction Seems Difficult
Once we have a ratified contract we then have to negotiate home inspections items and after that, sweat the appraisal. Every step of the process has been made more painful and stressful. And on top of all of these obstacles I believe we add to the pain and stress, sometimes without even knowing it.
We Don’t Manage Expectations Well
I believe that the number one reason transactions can go bad is because we real estate agents
do a poor job of setting expectations. In my experience I have found when I try to “rush” the process and I skip that first sit down buyer meeting, the transaction is usually more difficult.
The First Client Meeting Is Important
When the first meeting is scheduled I like to tell perspective clients that we will NOT be looking at property that day…that’s setting the first expectation. Once in the meeting I explain how I work, the buying process and what I expect from them. Now they have a better idea as to what to expect throughout the process, even if they forget somewhere along the line, you can remind them of that first conversation.
The Meeting Works
Trust me, having this meeting works.
You have a listing presentation right? So why not a buyer presentation? Don’t be in such a hurry to jump and show a property when you have no idea who you are dealing with. In the long run you want your business to be a referral based business. If you don’t set expectations upfront, those clients will surely be disappointed in something that happened and you will not get any referrals from them. You may not even know what you did wrong! Could be that you didn’t do anything wrong, they just thought things were going to be handled differently.
You Need To Slow Down
So take a deep breath, slow down and take the time to meet with these perspective clients for about 30-40 minutes to set expectations. It will be time well spent.
Enjoy less stress by having smoother transactions by implementing these simple strategies today!
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As an active Realtor licensed in three jurisdictions, I approach real estate training from a different perspective. With over 18 years in the real estate business, I teach agents what it’s really like to be a real estate agent.