By Scott Newman
The market is recovering—in some areas it’s even a seller’s market—and that means sellers can once again be a little more demanding…and a little more unrealistic.
So your client is turning into a “sellerzilla.” What do you do when your relationship with the client is on the line, but you need to get your point across? Read on…
Show Them, Don’t Tell Them
If my seller client isn’t willing to listen to my pricing advice and they think they know better me, I prove to them that I’m right. But I don’t do this through arguing, CMAs, or anything of that nature. Instead, I utilize their own two eyes.
If your client wants to list for $275,000 and you know the house won’t sell for more than $240,000, schedule 45-60 minutes with your seller prior to listing their home and take them to see homes for $275,000. When your client sees that the homes in his or her intended price point are bigger, nicer, and overall more appealing, then you significantly strengthen your argument without having to risk isolating your client.
They say it takes 21 days of doing something everyday to make it a habit. The same concept comes into play with unrealistic sellers. Continue reading »
By Sammer Mudawar
Buying and selling residential real estate is one of the most emotional transactions consumers conduct. Understanding client psychology, managing expectations, and using effective communication are the three most valuable skills that a real estate professional needs to develop for a successful career with less stress.
Understand the psyche of your client and your chances of a smooth transaction increase dramatically.
Is the client a standard seller who has lived and raised their family in the home for the past 25 years, but has not done many upgrades? Perhaps prepping this client for the possibility of offensive offers from cash investors will be important to making sure they don’t take things personally, or worse, become unreasonable sellers.
Understanding client psychology is important, however, equally important is they understand your psychology. It is vital to the client relationship that they understand your goals are in-line with theirs, and as a fiduciary you will only represent their best interests. Breaking down the walls in the beginning is one of the best ways to get on the same page as your client.
Here are two examples of how to manage expectations with buyers and sellers. Continue reading »