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Educate Your Prospects And Clients

By
Education & Training with GetMyHomesValue.com
Part of your job as a real estate professional is to educate your clients and prospects on every aspect of real estate. You have to assume they do not know anything about real estate, because actually most of them know very little. You may actually find yourself repeating the same thing over and over again...but this is how most people learn.

You cannot assume that your contacts are going to understand how a Realtor gets paid and that you do not get paid unless a home sells and that is the reason why you enter into a Buyer Agency contract before showing homes. They need to understand how imperative it is that they have a Mortgage Pre-Approval in place before you go and look at homes because it is not fair (to anyone) to show them homes they cannot afford. They need to be educated that it is not our job to show homes to someone that is not willing to work with us, in fact a Realtors job is to provide the absolute best service possible and it is tough to do that without the client being committed.

You must educate "Potential" clients as well. You must hold "State of the Market" educational seminars where you teach people the facts about the real estate market as it truly is, not what the Media over dramatizes for entertainment purposes. You must teach people how it is a buyers market and how interest rates are still incredible.

The moment you got your real estate license you became an Educator with the sole purpose of teaching (sales) the public all about real estate so that you have more leads than you know what to do with.
Ronald Stead
Valley HomeSteads - Woodstock, VA
Your HomeTown Real Estate Professional

Nice point.  I think we often take it for granted that everyone knows what we consider  are very simple things in the business.  Thanks for the post

Ron

Oct 26, 2007 05:11 AM
Denise Brophy
Re/Max Realty Specialists - St Johns, NL
ABR ePRO CERC

Hi Rory:

I always tell my buyer clients that by the time they close their new home, they should as much about the current market as I do.  Good post.

Oct 26, 2007 05:12 AM
Curtis Biggs
Envision Mortgage Solutions - Schaumburg, IL

halleluiah on the mortgage pre-approval!

While your at it, let them know that if they did not provide income, employment and savings/investment information to the mortgage guy (/woman/person), then the pre-approval is not worth the paper it's printed on.

Pre-approval is supposed to mean get me a contract and an appraisal and we're ready to close.

It's supposed to mean that all of the proof, all of the questions of the lender have already been answered.

Take care, Curt

Oct 26, 2007 05:14 AM
Abe Do
Olympia, WA
Good post, educating our clients is extremely important and often is the difference in a transaction.
Oct 26, 2007 05:16 AM
Laura Stickler
Berkshire Hathaway HomeServices Homesale Realty - Lebanon, PA
e-PRO, eCert, GRI, Associate Broker, RealtorĀ®

I agree 100%.  I chose real estate as my first career choice and I am currently working on getting on my feet with a commission only job.  I am 21 years old and I have a lot of friends that don't understand anything about the homebuying process or the Realtor's role in that process.  Personally, I am very thankful that I got into real estate before buying a home. 

I also find that it is best to educate people in a way that they can understand.  If you use real estate lingo, it can get very confusing and frustrating for your clients.

Oct 26, 2007 05:16 AM
Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi Rory;

In today;s market we must educate our clients.. Good Luck!!!!

Anthony

Oct 26, 2007 05:32 AM
Rory Wilfong
GetMyHomesValue.com - Lancaster, PA
Sales Coach and Trainer

RON - As Realtors we take a lot for granted and that must change. Have great success.

DENISE - That is some great advice for your clients. Have great success.

CURTIS - It is all about the Pre-Approval. Why on earth would you waste your time with someone who simply tells you they can afford the houses you are going to look at. I never showed a buyer any house at any price range w/o a buyer agency and a pre-approval letter from a lender I trust. Have great success.

RYAN - Can be all the difference. Have great success.

LAURA - Sounds like you have a great attitude and you are so right in educating in a language they understand. When someone understands they are a much easier sale. Have great success.

ANTHONY - Good luck to you as well. Have great success.

Oct 26, 2007 07:38 AM
Adele Irving - Easton Area Homes
Prudential Patt, White Real Estate - Easton, PA
It's all about educating the client and undoing the damage the media does.
Oct 28, 2007 01:42 PM
Rory Wilfong
GetMyHomesValue.com - Lancaster, PA
Sales Coach and Trainer

ADELE - You are absolutely correct!! Make sure the media does not get in your head. Have great success.

Oct 29, 2007 12:25 AM