The real estate world is an incredible machine with a large number of moving parts. This can make it an unpredictable world, so agents never know who or what might come across their desk next. Being prepared in real estate is to be successful.
There are some sellers out there who will need you to hold their hands the whole way, whilst some are very demanding and confident. Some vendors will be very involved in the selling process, whilst others will be a little more reserved.
As an agent, you’ll need to find some common ground with the seller, with such a range of possible vendors out there, you’ll be wanting to check out these five tips below:
Don’t put sellers into neat little boxes
Human beings are as diverse as there are stars in the sky – there are so many personalities out there, that it’s impossible to categorise people. This goes the same way for sellers.
Putting vendors into a box and calling them “type 1” or “type 2” isn’t advisable. Just like every property sold is unique, so is each vendor. If we treat people as a homogenous mass then we lose the personal touch to our service. The personal touch is key in real estate.
At the end of the day, working with people is what makes the job of a real estate agent exciting. Yeah it’s challenging a lot of the time, but working with people is super rewarding; so get out there and relish that opportunity.
The informed seller – a bonus, not a crutch
You can hardly turn the TV on these days, without being bombarded by a reality show about property. Alongside these shows, online news and conversations with like-minded friends, all contribute to the knowledge a seller has. Turn this to your advantage.
These days, vendors are far more aware of what’s going on in real estate than they were before. Having an open and trusting relationship here is key to working with your seller effectively. This will form the basis for a mutually trusting relationship.
Be on the lookout for those who come into the relationship with little trust for estate agents. These individuals will think that they know best, but those who can let go and allow you to do your job will achieve the best results.
You can’t please everyone all the time
Sometimes you’ll find that some sellers will only choose a vendor based on commission fees. These penny pinchers are all about the figures, and you may be tempted to drop your commission fee to win the listing.
The reality is that this type of seller may go elsewhere, but end up selling the property for less. For example, they might pay 0.25 per cent less commission at your rival agency, but you might actually sell similar properties for $50,000 more than what they do.
Speak less, listen more when pitching to sellers
Once you begin to understand the vendor and his/her needs, you’ll gain valuable insights into how to best provide a service. This all comes down to people skills and listening to your client.
Factors like nasty neighbours, messy divorces, or other privacy concerns can affect the way a property is sold. You can only gain these insights by truly listening to your clients and asking the right questions.
In this instance, interviews based on questions rather than statements will be particularly effective.
Sellers love being in the loop
In real estate pretty much every situation will be unique, especially with so many personalities involved in the game. Continuing communication is the most effective strategy you could possibly hope to put in place.
This is a universal strategy and will work to reassure your sellers that you’re proactive and have the best attitude for them and their property. Make sure you exchange emails, phone calls and have a mid-way campaign meeting to avoid and smooth over any issues.
Without regular communication between you and the seller, misunderstandings can become a threat; potentially derailing an otherwise solid professional relationship.
Remember that those vendors who are well-mannered may turn rabid if you don’t communicate regularly; so make sure to give them no cause to see red.