The process of buying a home can be a real roller-coaster experience. Expectations build in the hearts of buyers—after a long search, they might think they have finally found the home of their dreams. Offers are made, inspections are conducted, and at the last moment something goes wrong and the whole deal falls through.
This can be devastating to clients, and it is also one of the more nuanced reasons a real estate agent is essential, even in an era of modern convenience where many companies would have you believe that agents are obsolete.
Real estate agents have to inspire confidence in their clients, especially when the chips are down. There are a million reasons why a deal might fall apart in the 11th hour and it can create deep discouragement. You need to act like a coach at halftime, ready to rally your clients to get back into the game. Part of being a great agent is being there to pick up the pieces when the dust has settled around a failed purchase.
Murphy’s law rears its ugly head often in real estate. You are not just around to facilitate the creation of contracts and arrange showing. You are a counselor and advisor. You might have to dry the occasional tear; you might have to talk folks back from ledge. It’s a big responsibility, but it’s also one of the reasons that the job is amazing. Here are some ways to keep everyone happy:
Manage expectations
When you promise the moon in an effort to land a client, you better make sure you can deliver. If you’re not in a position to provide everything a client needs or wants, then it’s best to let them find another agent. It’s hard to let go of business, but it will give you more time to focus on the buyers and sellers you’re already working with while galvanizing a solid reputation.
When you do decide to work together, have an intro meeting where everything is laid on the table. If this meeting is done properly, it will act as the foundation for the entire partnership going forward, so put some serious thought into what your game plan will be and make sure the buyer/seller has a realistic, black and white idea of how the process will go. From that point forward it will be on you to stay on track and avoid pitfalls. When they crop up, try to call them a mile out and let know clients know in advance. People deal with turbulence better with head’s up and can hear the pilot’s reassurances the whole time.
Have a plan B & C
Back-up plans are essential, but to keep things air tight, your back-up plan will need a back-up plan. When the bottom falls out one a deal, you can alleviate a lot of the pain and disappointment by immediately turning a client’s attention to the next thing. If there is no next move, stagnation will quickly take effect, and that in turn will lead to inaction. Some hang ups can be so severe that clients throw in the towel altogether. Having a list of new objectives waiting in the wings prevents client flight.
Stay in constant communication
Agents live in the world of real estate every day. The peaks and valleys don’t seem very extreme when navigating them is literally your day job. To buyers and sellers, the whole process can be a nerve-wracking nail-biter and agents should reach out as often as possible to provide updates and encouragement. Most clients probably won’t need such frequent attention, and you should let up if that’s the case, but always start out by constantly keeping them in the loop. It will let them know that they are in the competent hands of an agent that cares about their wellbeing.
Buying or selling a home will never fail to conjure up a wide range of emotions in the client. It’s not enough for agents to just bring technical knowledge to the table, they have to be adept when it comes to managing the expectations of everyone involved. It will make the hard parts easier and the exciting parts more fun.
