Real estate agents would agree that there’s more to just clinching property deals for clients because, before that, one of the biggest challenges among agents is how they set and manage expectations for their clients.
Client expectations can be deal-breakers and how an agent sets and manages it with their client can end up winning more clients if they do it right, but can also be a reason to lose clients and adversely affect your real estate career in a snap.
Real estate agents need to make sure that they know how to set and manage the expectations of their clients so here are some helpful tips to ensure that it is done properly and correctly.
Honesty is still the best policy
It pays to be genuine and honest with your clients, but sometimes it can be tempting to forget about it. Worse, setting the wrong expectations with clients can do more harm than good.
It can be as simple as saying a “yes” or “no” for a client, but you choose to do a “maybe” to “play safe”.
When faced with situations where you cannot be sure about what to tell your client, make sure to do your research so you can be sure about your answers.
Being honest and genuine about the actual situation or price of the property is always a determining factor in a client’s decision-making process, so make sure that you are honest and truthful about it.
Educate and empower clients
The main reason why a client goes to a real estate agent is that they mostly have little or no knowledge regarding real estate.
While the internet is awash with tips and information about real estate DIY, a lot of it can be inaccurate or worse produced “just for show.”
As an agent, it is important to educate and empower your clients regarding real estate. For instance, when it comes to negotiating a purchase price, buyers usually insist on making very low offers which can be insulting and disrespectful to sellers, which could end up wasting everyone’s time and effort.
What an agent should do is to make sure to talk with their clients and assess their preferences and financial standing, this is a great opportunity to educate them about the actual value and work out a strategy in negotiating with the seller.
Do not decide for your clients, rather, guide them through the process by educating them about everything they need to know and how they can achieve the best outcomes for their real estate journey.
Be always ready to communicate
It is always best to ask and determine the preferred communication method of your clients. Some may prefer face-to-face meetings, remote conferences, or through phone, etc. – however which way they want and take good note of it so you avoid miscommunication and be at fault of intruding their time doing something else.
You can take advantage of this as a communication opportunity to reach out to them and be able to provide updates when necessary or simply want to send out well-wishes for personal or professional accomplishments.
Be a good and active listener
Listening is critical when dealing with clients, but it is very important to understand that listening carefully, intently, and activities can help you understand your clients better and you, in turn, be able to address their concerns property and set expectations accurately.
Do not take everything your clients say for granted because you never know, it can be that simple detail that can be vital to helping them make their crucial decision.
Empathise and be compassionate
Don’t forget that buying and selling property is always an emotional process, which is something that your clients go through every day and is more than just a single property transaction.
Make sure to always be attentive for cues for what they are going through and show that you empathise and are compassionate towards them because it will make you a better agent.
Setting and managing client expectations in real estate is a very special skill that deals with a lot of communication, so make sure that you use this to your advantage and provide your clients with the best outcomes for their real estate journeys.