Buying a house is a process, and often a very drawn-out one at that. As a realtor, you’re trusted by your clients to keep them on the straight and narrow and work to cater that process to their interests. This is, of course, in much the same way the selling realtor is doing the same for his clients selling the home. There’s a whole lot of positioning and deductive courses of action that come into play along the way. Realtors should be aware of the most common ways that their clients can put themselves at a disadvantage, and be proactive in nipping those problems in the bud.
Here at Real Estate Leads, our online real estate lead generation system continues to be very popular with both new and established realtors who need to get more out of their prospecting efforts. Once a client is acquired, there’s much that goes into retaining that client – both in the present and for future dealings as well. Being in the know about these potential ‘stumbles’, if you will, can go a long way in establishing you as the expert and one who truly has their best interests in mind.
Here’s 6 disadvantageous client behaviours to be on the lookout for:
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Too Much Emphasis on Aesthetics
Any real estate agent will be happy to show you as many houses as you want, but when buyers become overly caught up in how those houses look right now they are really limiting themselves and being detrimental to the overall big picture and long-term aim.
Many will dismiss houses that are dirty, outdated, or in need of small repairs. But renovation is really a thing, and a legit option much of the time. It’s all too common to have clients see some marks on a wall or a stain on the carpet and conclude that the home needs thousands of dollars of work.
Call it pessimism, call it whatever you like – but really do try to make these types of clients aware that it’s not helpful to dismiss what is otherwise a very ideal and accommodating home because of visual imperfections that can often be remedied quite inexpensively.
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Tipping Their Hand
Most often homes are viewed with the listing realtor in attendance. That changes the dynamic of any discourses quite considerably, and clients do themselves no favours when being too up front with their feelings on a home. Voicing criticisms can actually be quite harmful.
People tend to be quite finicky and uniquely dispositioned, and when it comes to their home there’s also matters of pride. Don’t allow your clients to give the listing party anything that might make them see your buyers (and perhaps even you) in a negative light.
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Waiting Too Long
Your clients have decided they want to buy a house? Don’t hesitate in getting your offer in. Taking too long to make an offer in a competitive real estate market drives buyer agents crazy, and it’s quite natural that it does.
Having too much time pass between a buyer viewing a home and making an offer can lead the seller to not take you as seriously as another party who expressed interest without delay and maintained communication. Do whatever you can to make sure you’re the realtor of that type of buyer, and not the first one.
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Seeing $$$ Only
We’re not debating here that how much your clients are willing to offer for a house isn’t very important. But you shouldn’t allow your clients to focus on that exclusively, or even predominantly. It’s not necessarily the highest offer that the seller will accept. Sometimes it will be the best structured offer.
The best offers are a mix of timing, the right price, and reasonable contingencies (like possession dates for example). Decide on a price but then being too firm on contingencies can also put you at a disadvantage.
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Ignoring Seller Wishes
Never forget to make your clients aware that they’re buying from another person who has to choose them as the buyer. Sellers become motivated for different reasons – maybe for some it’s all about the money, but for others it may be more about seeing their first home go to someone who will love it as much as they did.
Try to identify and understand these dynamics, and communicate them to your client accordingly before taking them into account as you communicate with the selling party.
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Lowballing with Counter-Offers
Last but certainly not least. It’s very common for sellers to not accept original offers, but be willing to consider a counter offer. Clients that are smart about it and make reasonable counter offers are great, ones that aren’t NEED you to step in on their behalf. Even if they don’t recognize the need for it initially.
Poor counter offers will frustrate a seller at the best of times, and insult them at the worst. They’ll be harming themselves and putting themselves in a disadvantageous position. Don’t give them the opportunity to do that and they’ll be very, very thankful for your intervention down the line!
Sign up for Real Estate Leads here and receive a monthly quota of qualified, online-generated leads delivered to you – and only you – for any region of any city or town in Canada. The consensus definitely is that it’s a great way to expand the reach of your prospecting efforts, and a smart investment in the health of your real estate business.
