There’s a never-ending list of things to know and learn in the real estate industry. And while you may be heavily invested in coaching and training, your clients don’t want to know the details about what you’ve been learning. They just want you to get them through their transaction as smoothly as possible.
So while buyers and sellers may not be up to date on all the industry lingo and technology, here are five things your clients expect you to know:
1) Every listing in your market.
Clients expect you to know the local market. And we’re not just talking about new listings that pop up. We’re talking about the square footage, number of rooms, and property details for every home in the area.
People ready to buy, sell or invest are looking at listings daily. Don’t let them know more than you.
Whether you work with buyers or sellers, analyze your MLS hot sheet daily. By studying your MLS 10-15 minutes a day, you stay up to the minute on new listings, properties sold, price points, and price reductions. So when a client asks you what’s happening in your market, you know.
2) What their dream home looks like.
Every buyer has must-haves, needs, and wants. And they expect you to help them close on a home with as many of these items checked off as possible.
During initial meetings, ask specific questions, so you understand what they are looking for—and their motivation behind it. If the reason they want four bedrooms is to ensure space for a home office, you might be able to find something with three bedrooms that still fits their specifications. When you do the work to fulfill their ‘whys,’ you’ll get them much closer to their dream home.
3) How much they can afford.
Even if they don’t go into detail about their finances, buyers will expect you to know exactly what they can afford. Make sure they are working with a reputable lender, understand how changing mortgage rates affect their monthly payments, and have a realistic outlook on all the costs that come with homeownership.
4) Every personal detail they’ve ever shared with you.
Buyers, sellers, and even prospects expect you to be paying attention. Not only to their dream home specifications but to the details they share with you in conversation.
This is why updating your CRM is so important. If something new or noteworthy comes up during a phone call or meeting, take a couple of minutes to update your CRM. If nothing else, it gives you something personal to add to the next card or email you send to them.
When in person, bring a notebook and jot down the details about the dog’s name, the graduation date, or whatever else your client shares with you. At the end of the day, be disciplined enough to update your CRM with new notes.
5) How to negotiate.
Your client hired you for a reason. And they expect you to have their back.
When it comes to the transaction, there’s a lot of behind-the-scenes paperwork and details your clients aren’t aware of. But one thing they know agents do is negotiate. So whether you are negotiating the sale price, home inspection, or something else, be sure you have the skills to put your client in the best position.
Mastermind with agents constantly to learn what’s working for them in the current market. Every tip matters—gather as many negotiation skills as possible and watch your business grow.
In short, the more you educate yourself and practice your skills, the better you will become. What tips do you have for exceeding client expectations?