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Goombas Wanted--The Art of Setting Realistic Expectations

By
Real Estate Sales Representative with Keller Williams Realty--Boerne Hill Country

HELP WANTED AD:  Do you laugh in the face of killer goombas?  Call us.  $80,000 a year plus a free house.  A parent can dream can't she?  Having a son that loves gaming (maybe not to THAT extent) and has an eye for animation...seeing this Farside cartoon made me laugh.  It also made me think...how we as agents...maybe set an expectation for clients that not in the realm of reality. 

There's not a day that goes by that I don't hear ads on the radio for "first-time home buyer" neighborhoods promising folks that they will never have to pay rent again when they buy a house in their neighborhood.  Sounds good in theory, but it's our job to set the correct expectations...not only for their good...but for ours as well. 

When a first time buyer calls you what do you do?  Do you immediately put them in your car and start showing them homes based on what THEY think they can afford?  Or, do you set them up with a good lender who can clearly explain to them what the reality is and what they need to do to get to the point of buying their first home?

If they find out that they are not quite qualified to buy...do you blow them off?  Or, do you take the time to map out a strategy for them to achieve their goal of being home owners? 

First-time home buyers can be the foundation of a great real estate business.  How we treat them...hopefully with respect...and how we groom them...can make or break the opportunity for those folks to be clients for life.  Flinging a dream that cannot be attained (at least in the near future) can do more to hurt our business than help.  Small steps...achievable steps will bring those first-time buyers to a place where they see dreams realized and develop a trust relationship with you that will not be easily broke.   

Colleen Fischesser Northwest Property Shop
NextHome Experience - Chelan, WA
A Tradition of Trust in the Pacific NW since 1990!

Claire, loved your title to this post! First time home buyers are driving this market right now. While every client should be treated with respect, sometimes the first timers just need a little more help and that should always pay off in a very statisfied client for life.

Mar 11, 2010 04:20 AM
Lisa Delzompo 951-704-4559
Sand to Sea Properties, Inc. - Palos Verdes Peninsula, CA
Experienced, Trusted, & On Your Mission: Home

Our son has nerves of steel in the face of Orcs, zombies, terrorists from Imaginary Lands, and soldiers who existed in the distant past.  I hope there is a job for him up the street from the Goombas job.

Mar 11, 2010 04:25 AM
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

 

Love me some Gumbas! :)

I agree completely and wrote a post recently about clients I have who were ditched by 3 other agents and lenders. Me and my favorite lender have been working with them and we are almost ready to start looking, armed with commitment letter!

It's what makes this job rewarding.

Mar 11, 2010 04:30 AM
Claire Record
Keller Williams Realty--Boerne Hill Country - Boerne, TX

Thanks Colleen... You're right about the first time buyers driving the market. They are the ones getting the incentives.  Setting correct expectations will be key! 

Lisa...Glad to know I'm not alone having a son with the qualifications set in the ads.  I just sent it to him in an email... 

Candice...good for you!  Having been a realtor for 18 years...some of my best clients who are now half million dollar clients were once my 70K clients.  You treat them right and they will be loyal for life.  You grow with them. 

Mar 11, 2010 04:35 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Setting clients' expectations from the beginning saves you and your clients time and frustrations. Sometimes clients' expectations are as high as the sky and it is up to an agent to bring them back to Earth, carefully and realistically explain the process, condition of the market, educate, outline mutual responsibilities, etc. 

Jan 18, 2018 01:05 AM