As a real estate professional, you know the importance of setting the right expectations with your clients. And there’s a lot to manage with everything from timelines to listing prices. So, how can you be sure you’re having the right conversations upfront? Can you be doing more to iron out those potential wrinkles in the process?
We explored some of the tips and suggestions that some of the best real estate agents swear by in their markets. Check out what other successful professionals are doing to see that you can ensure you’re setting the right home value and process expectations with your sellers.
1. Start Setting Expectations with Your Very First Meeting
You can’t predict every potential issue with any real estate transaction. But you can dispel myths and shed light on critical home value and timeline expectations with your very first client meeting. Start by introducing them to the process, even if they’ve sold a house before. Set the stage by making sure they understand what pitfalls may lie ahead. Remind them that your goal aligns with theirs – to sell quickly and for the most money. But you can avoid disappointments down the road by explaining that despite your best efforts, challenges may arise.
2. Create Handouts to Outline Your Process & Timeline
Consider creating a “home listing guide” for your clients. Many real estate agents use flyers and handouts to provide a step-by-step reminder of what to expect in the coming months. This can be a brief, bullet list of what usually happens within the first week or first month of listing. Or, you can get more detailed by outlining your process for handling marketing, open houses, showings, photography, and price negotiations, too. But when your clients have the right expectations about what you plan to do, there is less chance of friction or frustration. The key to success with these handouts is transparency, client education, and communication.
3. The Only Promise You Should Make Is to Expect Changes
The market is ever-changing, so ongoing coaching is critical. You know better than to make promises to them about selling their home that you can’t keep. But one commitment you can make upfront is that change is part of the process. For example, prepare your sellers for adjusting their listing price. Make them aware that some home repairs might be necessary in order to get the best offers. Your sellers should be ready to field a call from you telling them the dynamics have changed and be ready to adapt based on your advice.
4. Back-Up Your Reputation with Action
If you are making inadvertent promises, like some agents who advertise things like, “80% of my listings sell within the first three weeks,” be ready to back them up with action. Your sellers might have heard good things about you and already have a mindset that you are the master at super-fast transactions. If that’s the case, you can set the expectation with them that should their home NOT sell within those first three weeks, you plan to have a meeting with them to discuss what might need changing.
5. Provide Solutions & Options (Like Listing Profit Remodeling!)
Your sellers like to know they have options. As their real estate agent, you can help manage expectations and tackle challenges by having an arsenal of options and solutions in your back pocket. For example, referring your sellers to Listing Profit Remodeling might be the best way to make those home improvements needed to sell quickly and for top dollar. Educate them on available resources, like ours, which allows sellers to leverage the home equity they have to make renovations now and pay at closing.
Managing your sellers’ expectations is a pillar of your job description. So tap into some of these tips for improving your communication process. And let Listing Profit Remodeling be the partner you need to help your clients make those necessary home improvements, sell faster, and get the best offers!