Protect your reputation by avoiding these Top 7 Blunders.
In challenging times, a high standard of ethics is more important than ever.
Few things are more embarrassing in the course of selling a home than to have a prospective buyer tell a client, "your agent isn't doing you any favors."
Clients in this market have enough to worry about without second-guessing their service providers.
Appearing unethical, dishonest, or just downright sleazy kills your credibility. And in an industry where trust is integral to business, it can be a career killer.
Are you guilty of any of these Top Seven Career Killing Blunders?
1. Don't lie to your clients.
Lying to your clients is like lying to the media, your colleagues, your spouse or yourself. It's going to come back to haunt you.
2. Don't do a swap-out.
Telling a prospective client their asking price is perfect might get you that listing. But if you turn around a week later and insist on lowering the asking price before the listing has even hit the streets... or give a by-the-way, "there are tens of thousands of renovations that will have to be done before the home passes muster"...you're shipwrecking the way you're going to be perceived in the word-of-mouth that's soon to follow.
3. Don't take on more than you can understand
Unique characteristics are often the only way a house is going to stand out among a slew of similar price points. If you don't know how to sell something unusual, leave it to someone who does. Saying something's fantastic when you list, and calling it a detriment as soon as you turn your back, is not going to make a happy ending.
4. Don't generalize.
If a home you've listed hasn't sold, "price and condition" may be your standard answer. But before you start use the same line with every client, take some time to truly analyze the situation. Is there any kind of "extra" marketing you can leverage? Step outside the box, and brainstorm with a more experienced agent (or an online networking group).
5. Don't get caught using bad information.
If you're comparing the price of your listing with recent homes sold, make sure you use the same comps that an appraiser will use - and if you're not sure what those comps are, ask an appraiser. If you show comps only from the other side of town or of homes that don't compare, you'll lose credibility.
6. Don't devalue the property.
If the property comes with extras, everything has value. Don't be demeaning about that tennis court, pool or extra couple of acres, just because it's going to take extra effort to comp - or even to sell. Use something different as a unique marketing advantage and a way to stand out from the crowd - and let your client know how you're going to do that.
7. Don't underestimate their intelligence.
Just because you know a lot doesn't mean nobody else does. Treat your client like a peer - whether they're wealthy executives or barely scraping their way into a home. Don't take advantage of anyone who hasn't done their homework. And listen carefully to someone who has. Make sure that no matter where they're coming from, you're giving them the kind of information they need to make a decision - and let them make it.
In this market, word of mouth may be your best way of keeping your business strong. Make sure the brand you're building for yourself is one you're proud of, with honest, ethical, trustworthy strategic communications that won't kill you.
With 15 years of media experience as a news reporter, media trainer, crisis communications coach and message development expert, my goal is to help you get your message right to all the people you need to reach.
Lara Travars at The Travars Group
Helping you sound smart and stay out of trouble with communications counsel, strategy, message development and media training in the Raleigh/Durham/Chapel Triangle - and across the country.
Keeping it real. Great points. Our market here in the mountains of WNC is very challenging at the moment.