Managing Client Expectations in Times of Change

Real Estate Sales Representative with Royal LePage / Pro Ledger Online Software

Managing client expectations is always important, but it becomes especially crucial when the market is changing.

Here are a few strategies that can help:

  1. Be upfront and honest: Do not be afraid to tell them about the difficulties they may encounter during the purchasing or selling process. This can aid in establishing reasonable expectations and preventing confusion down the road.

    Former real estate coach Kelle Sparta says that "...while you don’t want to scare people by listing everything that could go wrong, you do want to acknowledge the more probable bumps in the road. That means sometimes telling a client things they don’t want to hear but need to know."

  2. Communicate regularly: Provide clients with regular updates on the status of the buying or selling process. This keeps clients informed and reduces the possibility of surprises.

  3. Set clear expectations: Clearly communicate the steps involved in the buying or selling process, the timeline, and what the client can expect at each stage.

  4. Be responsive and available: Whether it's responding inquiries, giving customers details about properties, or setting up viewings, make sure to be responsive and accessible to clients.

  5. Offer information: Provide additional resources such as mortgage calculators, home staging tips, and local market statistics to help clients make informed decisions.

  6. Be adaptable: Be open to adjusting expectations if the situation changes or if unexpected obstacles arise.

  7. Manage expectations during the negotiation process: Help your clients understand the negotiation process and current market conditions by being honest with them about what is and is not possible.

  8. Follow up after the sale: After the sale has been made, follow up with the client to see if they have any further questions or concerns.

How are you managing client expectations during these uncertain times? Share your tips as a comment below.

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