Can You Make Decisions for Your Client?

By
Real Estate Agent with Online Real Estate Agent Training

Can You Make Decisions for Your ClientBuyers and sellers look to their real estate agent for their expert advice.  "How much do you think my house would sell for?"  "How much should I offer on this house?"  "What items should I repair from this list of inspection items?"  "What should I do to make my offer stronger?"  These are just a very small sample of the many questions real estate agents are asked before, during and after the transaction.  But the main question we are asked is this, "What would you do?"

Who is Buying the House?

Afraid of making a bad decision, buyers will ask their real estate agent, "What would you do?"  Although we can't make a decision for them, we can give them our knowledge and expertise to help them come to their own conclusion.  If the property they are considering has all of the amenities they stated they wanted in their new home, than the answer is fairly easy.  But if they are simply tired of looking or have lost out on numerous properties in multiples, you may have to keep them focused on what it is they really want in their new home.  The home buying process can be exhausting, but you don't want your clients to "settle" for just anything.  This is a major financial decision that they are making and they need their agent to give them the pros and the cons so they can weigh all of their options.

What Do You Think of the Price?

Buyers and sellers are both extremely savvy.  Research has shown that the majority of consumers begin their real estate journey online.  Buyers look at various neighborhoods and know the average price for what they are looking for.  Sellers look at that very same information to determine what they feel their house is worth.  So when it comes time to put the house on the market, the seller can be firm with the listing price.  The job of the real estate agent is to analyze the most recent data and either confirm what the seller is thinking or gently let the seller know that the price they want isn't reality based.  On the flip side, buyers come into a neighborhood with a price in mind as well.  But that number may be low based on the current market conditions which the information on the Internet does not show.  The buyer may have to adjust their budget or select a neighborhood that they can better afford.  As their agent, if you don't help them manage their expectations upfront, you will spend a great deal of time looking for a needle in a haystack.

How Much Should We Offer or Accept?

After looking at houses, the next time I usually hear "What would you do" is when we are reviewing the comps for the property.  Unless the property is unique, the numbers will speak for themselves.   Both the listing agent and the buyer's agent will be looking at the same comps...that's assuming that each party is doing their job properly.    The seller can ask whatever they like, but it is up to the buyer to decide what the house is worth to them.   As their real estate agent, all you can do is compare condition and location of the various properties that they have looked at and those that have sold.   What we can't do is tell them how much they should pay for their house.   They are the only ones who know how much they love and want it.  In reality, buyers know what they should do, they are just looking for reassurance from an expert...and that expert is you and me.  So let's do our job, be patient, be nice and help them navigate through the home buying process.

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Candy Miles-Crocker

Real-Life Real Estate Training

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Rainmaker
1,017,707
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I don't make the decision-unless a rare situation calls for it (I'll share one below), but I do offer the facts and a fact based insight to all those questions. Especially price, on both sides of the deal, it's easy. Run the comps and know the property's value within the comps. Know your clients' needs vs. wants and lifestyle. I have looked at a client recently who was getting fed up with our multiple offer market and said "no, I will not write an offer on that condo for you, it's all wrong and you are prematurely compromising. Please trust the process, take a break even." Two days later he thanked me. 1 month later, we're in escrow on his IDEAL floor-plan & preferred condo association. I had to step up and I did, both on my advice and my search process for him. We're trusted advisers, so trust your advice.

May 21, 2015 11:05 PM #1
Rainmaker
204,629
Candy Miles-Crocker
Online Real Estate Agent Training - Chevy Chase, DC
Realtor - Real-Life Real Estate Training

Thomas, that was a great example of representing your client...well done!

May 21, 2015 11:19 PM #2
Rainmaker
1,506,461
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

I was listening to a story about a very nice agent who worked with a client for over a year and was about to give up. Her broker stepped in and after talking to her clients just one time had an offer in hand.

 

It reminded me myself first years in business.....

As you stated, a good experienced agent informs the clients about good and bad of every step and helps them( no pushing!) to make the decision that works the best for them at the right time for them, even if sometimes they do not see or understand  it. 

So, later you do not hear from them,'' it was such a good deal/offer/house and we missed it...''

Dec 16, 2018 03:33 PM #3
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Rainmaker
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Candy Miles-Crocker

Realtor - Real-Life Real Estate Training
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