Under Promise, Over Deliver

By
Real Estate Agent with Century 21 Curry Agency

What is the difference between making a client truly ecstatic, and giving them the most miserable real estate experience they could ever possibly have? Its the expectations that we set for them that determine our level of success.

Sure, we know that with a listing, in this environment, there is a chance that it will sit on the market for a while. We can advertise it with wreckless abandon, bring buyers through by the busload, and price it appropriately, but still be faced with a longer time on the market than they are comfortable with. Its just reality.

And with buyers, I think the rule applies even more, since the media has dubbed the current real estate market as a "Buyer's Market," proclaiming that they should run out and get a great deal immediately. But what is missing from this proclamation? The fact that the great deal that the buyers should be getting, in most cases, is already priced in to the value of the home! All too often, buyers will see a list price and announce confidently, "since the list price is x, we won't pay more than x-y. Of course, we as real estate agents will ask "where did that price come from?" They will usually not have a definitive answer, but in many cases, feel that they must stick with their over-discounted "value."

The only way to avoid either of these dilemmas is to set the expectations at the right level. If we are familiar with the market, we know where they should be, so getting the data and setting it up front is critical. Otherwise, we could be taking them down a steep cliff without any brakes, and they will be unprepared for the crash in front of them.

Comments (1)

Ellie Shorb
Compass Real Estate - Chevy Chase, MD
Realtor DC, MD & VA Luxury Home Expert

Setting expectations is key and is certainly important as there are lots of parts of a transaction that are not in the sellers's control.

Dec 22, 2010 01:48 AM