Communication

I had 3 different calls yesterday from clients of 3 of our associates. Each of the clients was initially complimentary of the service they had received thus far . . . and each one made sure I knew that they LIKE our agent. These folks all seemed to be nice and rational people.

All 3 of them were equally frustrated with their experiences and were calling me to see what I could do to get them out of their agency agreements with their agent. What interested me about the whole thing was that none of these people were angry - no yelling and screaming whatsoever. In each call, I simply asked what the issues are and then let them vent for as long as they felt they needed. These were not short conversations.

I listened carefully and took good notes throughout each monolog . . . I asked each one if there could be an opportunity for the agent to "Make things right" . . . any 2nd chances? I concluded each call with the simple question: "Where from here?"

In all 3 cases, the "Where from here?" answer was the same . . . "I want out of this agreement!"

How could this be? What possibly could happen with 3 unrelated scenarios in which perfectly rational people have reached an irreversable level of frustration with their agents?

The most common phrase?

"I've lost confidence in my REALTOR!"

The bottom line for me is that each of these agents definitely did their job. They are all high performing agents in our Market Center and are well trained. I could assure myself that they were not procedurally deficient . . . but this undertone of client dissatisfaction and frustration was downright disturbing to me - especially THREE independent cases in the period of 3 hours.

So I went back to my notes, and here's what I found:

"We made an offer on a foreclosure and did not hear anything for a week. Our offer was OVER list price. We have now learned that house actually sold for less than we offered to someone else. We don't understand and believe that our agent dropped the ball."

"The lender wouldn't give us the financing (VA) we asked for, and then the financing he arranged changed at the last minute." I talked with the lender who had found a loan that would save this buyer THOUSANDS of dollars at closing AND was 3/4 point less interest . . . the cheese moved, and that loan went bye-bye before the closing.

"Our agent was sending us properties that were perfect but not in the school zone we want" - I asked if the agent knew which school zone they wanted and they replied that they weren't certain it was ever discussed.

"I listed my house at a fair price, but it needed some work. It didn't sell in 3 months, so we reduced it below market . . . Still no buyers, so we fixed what was broken and now we just want to SELL. Our agent has stopped calling us." I asked: "What is your motivation for moving? Do you have a personal reason to move on quickly?" ... "YES! My family is in crisis and lives in my home town. I MUST get there to be with them." When I counseled my agent, I learned that the client had never whispered a hint of this urgent personal need.

This post could get VERY long if I don't sum things up :-)

These are all good people attempting to transact real estate in what is proving to be a VERY challenging market. Even the people who are supposed to know what they are doing (Seasoned agents) are being blindsided . . . and our clients who are looking to us for iron-clad guidance lose faith when things don't happen as we set them up to expect. 

COMMUNICATION in this murky cess-pool of monsters will go a LONG way.

Be careful what you set your clients up to expect. Lean toward the pessimistic side. I ALWAYS advise my clients that bank owned properties are unpredictable at best. All the rules are out the window. These are NOT normal transactions, and these asset managers can do weird stuff . . . and it's not the listing agent's fault.

Communicate with your clients EVERY day while in a transaction and let them know what you are doing on their behalf. They MUST know every step of the way that you are doing your best. Confidence wanes quickly when there are periods of lapses of communication.

For Heaven's sake, PLEASE ON THE FRONT END learn the client's PERSONAL motivation for diving into the real estate market. There are many people in many scary life moments right now. Most will not tell you what's going on in their personal lives until you demonstrate that you care . . . Just ASK! They'll tell you.

More often than not - ESPECIALLY in this time when the entire media empire is screaming doom and gloom and scaring and confusing the bejesus out of everyone who is even contemplating a move, the folks deciding to move have a REAL reason for doing so.

Effective Communication builds confidence and loyalty . . . and leads to the realisation of everyone's goals.

Best,

b

Barry Owen

Career Development Coach

Principal Broker

Keller Williams Realty - Nashville, TN - Green Hills - The FLAGSHIP

www.theowengroup.net Communicating daily with home Buyers and Sellers in Middle Tennessee

www.creatingspaces.blogspot.comBarry's other blog

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