Buying or selling real estate property can be very stressful. After all, it is one of the biggest investments in one’s life which could take a lot of soul-searching and contemplate before deciding to buy or sell any real estate property.
This is where a real estate agent comes in, where they may be able to help clients cope with the pressures and stress factors that generally affect both buyers and sellers.
For real estate buyers
A real estate agent needs to consider that there are a lot of circumstances that can be stressful for client-buyers should they consider doing it themselves, which can be a major selling point for agents.
Let’s face it, inexperienced buyers have limited or even little knowledge regarding the real estate purchase process, where they could sometimes doubt their capacity to make an offer, dealing with an unreasonable seller, etc.
For agents, they must offer solutions that will help inexperienced buyers, so that they can cope with the pressures and stress of the real estate purchase process.
Here are some tips that real estate agents could leverage when dealing with buyers;
- Help them identify what they need and want
Real estate agents need to be very helpful in determining a buyer’s real estate needs and wants when planning for property investment or residential use. This will help buyers save a lot of time and energy by narrowing the search process down to what they need and want in their property of choice.
For instance, advice buyers to make a list of things that they expect to find in their dream property, as well as the specific must-haves for their homes, such as the number of bedrooms, bathrooms, and other features they are looking for.
- Secure a loan pre-approval
Applying for a loan can be daunting for first time buyers, which is why it is critical for real estate agents to use this as leverage to impress a potential client by helping them facilitate a loan pre-approval.
This will help buyers to estimate their budget for their planned home purchase, as well as be able to have the funds available for a deposit so they can rest assured that the purchase is a go.
For instance, when choosing to participate in an auction it can greatly help to know how a buyer can bid on a property, especially when other bidders may not be able to put up their deposits to secure it.
- Provide helpful insights on how they could manage their finances
Real estate agents need to seriously impress upon their buyer-clients to seriously consider managing your finances well, so they can be assured of their financial position to purchase a home without
Whether it’s the capability to pay off existing debts or consolidation of their financial obligations such as car payments, student loans, or credit card payments, being prudent and smart with their spending can help strengthen their chances of getting a loan pre-approval.
- Buyers must be realistic
Buyers may list down the things and features they want to see in their dream house. But the big question is if they may be able to afford it. Agents need to advise their buyer-clients the need to be more flexible about giving up some of their desired features that could cost them more money so they could sustain their regular mortgage payments.
- Sell yourself
Convince your buyer-clients that you are the ideal real estate agent that they can count on who knows the local market and could help you find the best deals, as well as save them the trouble of getting stressed with the real estate purchase process.
For seller-clients
Similarly, real estate agents need to understand that sellers can get overly-stressed especially when they feel they are not getting any good offers on their property, issues arising on the property title, property damage after inspections, and appraisals that are lower than the asking price, among others.
To cope with all these stress factors as a seller, real estate agents can take advantage of the following tips to sell themselves to seller-clients.
- Help them devise a plan to sell
Impress upon your seller-clients the need to plan when they consider selling their home and weigh their options before deciding to sell. Help set their expectations regarding the paperwork, costs, marketing activities, etc.
This will also help you as the real estate agent establish your expertise and authority, which can be a good selling point for potential clients who would look up to you for their real estate needs.
- Maintain open communication lines
While occasionally it may take a bit more time to list their property, keeping communication channels open with both the seller-client and market is necessary. For instance, there are a lot of homeowners in Australia that need time to think things through before deciding to buy which could take a few days or months.
As an agent, you need to impress upon your seller -client that you make yourself available to answer queries or clarifications.
- Always take control of any situation
A real estate price negotiation can sometimes turn ugly, so to avoid such problems from occurring and driving away potential buyers, always make sure to act and respond professionally. Agents always need to stay cool and professional in any real estate transaction.
Being professional and cordial can help you provide professional advise to your seller-clients to help them make better and smarter decisions. Take criticisms with a grain of salt and try to weigh the feedback if client observations so you can leverage it for future transactions and partnerships.
- Convince them that you are the right one for the job
Convincing seller-clients to hire you as their real estate agent can be tough, but the best way to get their buy-off is to help sell their property by taking loads of stress and pressure off their shoulders.
Always remember that real property transactions can take a toll on people’s emotions, so find a way to provide a solution that would ease the pressures and stress by proving yourself as a reliable and trustworthy real estate agent that can help them sell or buy real estate property without hassles.