Happy New Year!!! Hopefully, 2016 is already off to a wonderful start for you.
Ya know, I learn new things every day and sometimes the best lesson learned is the one we have been taught but are reminded of regularly.
NOT EVERYONE PRACTICES REAL ESTATE! I make a point to explain the role of the “main players” in each transaction to my clients as we get a deal off the ground. I always remind them that I am their “go-to” but if the question is not meant to be answered by me then I’ll direct and invite the correct person into the discussion so that questions and concerns can be quickly cleared up. Keep in mind, there are usually about 35-40 people involved in a normal purchase or sale and with that many moving parts … there’s bound to be a few questions during the deal. Remember who you are talking to … is it a loan officer, another agent, your client? The way we curtail our discussions often depends on who we are talking to.
Don’t be afraid to ask clients if this is their first deal or how much they know about buying or selling a home (most seem to think they know more than they do) when you get started with them. Have a few questions to ask them that can help you know how educated they are and how much attention you may have to give to your explanations and answers to them about different things.
One of the worst things you can do is assume a client knows and understands what you are talking about. For example, I can’t tell you how many time we come up to a contingency removal deadline and buyers and sellers alike say something in the way of “what is that” or “I’m not sure I know what you’re talking about but whatever you say.” Remember, the deal belongs to the client … not to the agent. Make sure they understand the things that are happening because the decision made should be theirs … not yours.
If you are a buyer or seller, don’t be afraid to ask your agent (or any vendor) to slow down or to explain something. Sometimes, we do unintentionally get ahead of ourselves but are happy to take it back a notch to make sure you know what’s going on. In all truth, it’s great to be reminded from the customer sometimes that we need to do this … so thank you in advance for bringing me back to Earth in case I leave you behind.
Finally (agents), don’t forget that not everyone operates their business they way you do. For example, I give my clients a lot of detail about transactions so they are “in the know.” However, I periodically find myself in a transaction with a loan officer that perhaps pays less attention and talks to a buyer like they buy and sell homes every day. Often, it can leave a buyer intimidated because they feel silly for not knowing and then my phone rings with twenty questions about what the heck the loan officer was talking about. Ultimately, I have to remind the loan officer that this is a buyer that may need more explanation and invite him/her back into the conversation to provide clarity. BUT … knowing we don’t always get to pick the vendors we work with on every deal … I like to give a quick summary about the client so everyone knows what their needs are and really what my expectations of communication are throughout the transaction.
Be patient and be as detailed as you need to be. It’s a lot easier taking the extra time to explain something on the front end than to have to fix problems later or dig yourself out of a hole for not explaining something correctly the first time.
All the best out there!
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