Lately I've been feeling like today's first time home buyer is filled with so much knowledge, or rather more accurately - exposed to a lot of information that they seem to feel expertly prepared for all that is involved in the home buying process. However I also believe that most people feel vulnerable when under pressure. When faced with the reality or fear that they don't know all they could or should about a subject or scenario, they bluff or become defensive, shut down or worse avoid and flee.
A Realtor needs to be a Therapist and a Teacher.
Often it's been said that ‘Information without Analysis is useless" - I think this phrase is pretty accurate, especially when it comes to Real Estate. But on the flip side I also believe in the phrase - "Paralysis by Analysis" is also true.
After all with so many voices and opinions from rapidly expanding sources - The Web, The Blogs, Print, Radio, TV News, TV Realty Shows - Channel after Channel devoted to Real Estate and Home Related Issues, advice from friends, co-workers and family, it no wonder that when a young couple is ‘Up Against the Pressures of the purchase offer stage, especially the Multiple Offers Pressure' they feel over-whelmed. What's most troubling to me and perhaps to other Realtors is that when we do our best to counsel and guide them through this part of the process, sometimes WE are the least listened to, dare I say trusted, source.
"I've heard....."
My {INSERT - FRIEND, BROTHER, MOTHER, FATHER, MEDIA GURU} told me that when they were buying their home......."
"I read that you should never..........."
I do not take it personally or become insulted by this seemingly disregard of my advice. I remain calm and aim to be a steady, positive voice
I learned that I needed to do a better job of building the bond with the buyer client(s). I do my best to build a Team concept. Each real estate transaction may follow the same stages, but each is unique, and while you can never fully know what the other side will do in the negotiation phase, if you've prepared them well and your team has a solid plan of what to expect when the unexpected is a possibility then you've done the best you can.
A Realtor needs to be a Teacher and a Therapist.
In my practice I do my best to teach and counsel first time buyers at each step of the home buying process. When I feel that the time is right or more precisely in need of offering information and guidance about a subject, I like to tell a story about a past client and describe the issue(s) we faced and how we worked through it. (Of course I never reveal sensitive information about the person or deal). I feel that it's easier to relate too and absorb the info when a lesson is taught in this fashion.
However sometimes when I'm in the middle of story about a past experience intended to illustrate and provide information on a particular subject, I get interrupted by a client saying something along the lines of "Yeah I/we know". Sometimes it may seem that it's said with a tone meant to dismiss me, and perhaps they do know (but I never like to assume).
More often than not I believe its nervousness and the fear that they feel unprepared to continue the conversation. You can not teach if they are not prepared to listen and discuss.
I find a way to arm them with some materials or resources about the subject so that they can review it, and then I find another opportunity to discuss the topic.
I believe that I have a good sense of knowing when a person is nervous and unsure, even when it's not outright and obvious, and I apply a gentle approach when needed, usually this is most often utilized at the beginning of the relationship, but often it's needed at each new step of the process. But I also know when a firm nudge or outright kick in the pants is needed and appropriate. Open and honest communication between the client and the Realtor is the foundation to a good working relationship and building a winning plan.
One of the personal attributes I am most grateful for in my life is that I feel blessed with an abundance of patience. And I often tell my prospects and clients this as well.
I also tell them that they can ask me as many questions as they like, as many times as they like. I add that I do not know everything there is to know about Real Estate.
I go on to say that I strive and hope to learn something new everyday. I tell them that I will and do seek out advice from my broker and fellow realtors when I have questions.
I'm not ashamed of these statements. I want my clients to feel at ease, I want them to feel comfortable so that they will openly share with me their thoughts, concerns and questions.
So the lesson(s) here for First Time Home Buyers and for new Realtors is - there is no such thing as too much knowledge. Professional Analysis is crucial in Real Estate. Advice from family and friends is helpful. Feeling comfortable with your Realtor is key. We are here to counsel and teach, to guide and to support you. We want to do the best we can to make your dream of home ownership come true. We want to become your trusted advisor and earn your business and referrals.
I've heard it said that ‘In Real Estate properties are the commodity, Service is our business.' I believe this is a good, albeit a simplified description of our business and purpose.
It's never too early to build a plan. Surround yourself with trusted professionals. Communicate, prepare and make it happen.
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