Clients Who Get Real Estate Advice From Everyone - Good or Bad?

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Real Estate Agent with Online Real Estate Agent Training

Clients Who Get Real Estate Advice from EveryontWhen it comes to buying and selling real estate, everyone is an expert.    They feel compelled to give their opinion and expert advice at every turn.  As a real estate agent we know that everyone who voices their opinion isn't necessarily an expert, but we do understand that if we are to maintain a good working relationship with our clients we must respect the person giving our client advice.  And this is not always easy to do.

Getting Advice From Everyone

Parents, co-workers and friends have the constant ear of the client.  The client could innocently (or not so innocently) be updating people on the progress they are making in the home buying or home selling process.  That is when the well-meaning friend or co-worker go to work.  They give advice on everything from financing options to what should happen during the course of the transaction.  The advice isn't always bad, but what both parties fail to understand is that every one has a different home buying and home selling experience.

Every Transaction is Different

No two real estate transactions are ever the same.  Every one has a different financial position and market conditions are constantly changing.  When someone tells your client they got an extraordinarily low interest rate, or that the seller repaired every issue from their home inspection or their agent gave them a huge rebate, there is ALWAYS more to the story.  Those are the pieces of the story that the friend or co-worker fail to disclose, but your client thinks that this is the norm and want to make a similar request.

What About the Parents?

Parents are a different story.  Their intentions are good because they want to protect their child from making a mistake...a costly mistake.  This is completely understandable because this has always been their role.  But when they step in to protect their child from the "big bad real estate agent",  they are essentially saying that we didn't do such a good job helping our child make important life decisions on their own.  Parents should certainly give their opinion if the child requests their opinion, but making demands on their child or the agent during the process is a different story.  At some point, the child will have to learn to tactfully tell their parents that they appreciate their input, but they can make decisions on their own.  Of course, if the parent is making a financial contribution their opinion does carry more weight.

How Do You Handle These Situations?

When all is said and done, the real estate agent must learn how to handle all of these well-meaning parties.  These people are obviously important to the client and therefore we must respect their input while at the same time correcting their statements and managing the expectations of our client.  It's not always easy to convey this message to our clients, but if we don't at least try, it will be a long and potentially difficult transaction.  How do you handle situations where your client is getting input on what to do from their parents, friends and co-workers?  Let me know in the comment section below.

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Rainmaker
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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

I think it's natural for people to ask their friends and family for their input, but doing so can definitely get in the way of a successful transaction.

I had buyers who were asking their real estate community where they lived (in a different state) for advice, and the advice they were getting did not apply at all in my state.  We wound up parting ways before they bought a place since they just would not believe I was giving them the proper advice regarding the process in New York. Their friends in New Jersey HAD to be right since they were in real estate also.  Ugh.

Sep 08, 2015 02:00 AM #1
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